STUDY OF DETERMINANTS OF PERCEIVED EXPERIENTIAL VALUE FROM LUXURY GOODS RETAIL IN AHMEDABAD CITY

Abstract

Luxury goods are defined as conducive to pleasure and comfort and also, hard to obtain. Building on the definition by Vigneron and Johnson (2004), we posit that luxury products can – either alternatively or cumulatively – deliver personal indulgence and social esteem on consumers, aside from the functional utility of owning or experiencing a good or service that offers superior value in terms of quality, design, performance, durability and overall customer satisfaction. Hence, by providing exceptional value and overall excellence, luxury products enable consumers to satisfy both or either of their socio-psychological and functional needs (Shukla, 2012; Wiedmann et al., 2007; Hennigs et al., 2012). Customer experience is again a real time concept, experience is more of personal and internal, this concept focuses more on the points of direct and indirect interaction between customer and organisation. Knowing such points of interaction is very vital in delivering complete customer experience. The present study is conducted in the city of Ahmedabad with sample size of 520. All the major luxury goods retailers are covered under the study. Major aim the study is to understand factors determining experiential value while customer is buying luxury goods from such organised retailers.