Luxury Value Perceptions Research Articles

Luxury value perceptions and consumer outcomes: A meta‐analysis

AbstractLuxury value perception is a well‐researched, yet fragmented domain. Extant research reports several dimensions of luxury value perception, where different investigations identify varying dimensions and their impact on several consumer‐related outcomes. However, such findings are inconsistent across studies, which are carried out across various contexts using disparate samples. In this research, we use the Theory of Consumption Value and Economic Theory to provide a comprehensive understanding of the dimensions, outcomes, and moderators of luxury value perception. This investigation synthesizes extant literature through a meta‐analysis to explain the inconsistent findings and offer new insights. The meta‐analysis integrates findings from 64 papers that report 74 separate studies with 32,587 participants/consumers. The impact of the dimensions of luxury value perception (functional, social, emotional, conditional, epistemic, and economic) on consumer outcomes (affective, cognitive, and behavior), and the moderating effects of several moderators (industry type, culture, gender, and publication year) are conceptualized and examined through meta‐analytic techniques. Some relationships are under‐researched in literature and cannot be tested, which provides scope for future investigations. This research is valuable for theory as we offer novel insights and identify boundary conditions that advance theoretical understanding of the domain. Managers will benefit from this holistic understanding as they may apply the insights obtained to formulate nuanced marketing and branding strategies.

Tourists’ Luxury Value and Sustainability Perceptions of South African Exotic Leather Products

Travelling mostly involves expenditure on products beyond daily consumables (i.e. tourism shopping), but sometimes tourists visit a country with the specific intention of acquiring goods unique to that particular context, either for personal or commercial use. This type of “shopping tourism” contributes to the growth of luxury markets such as the exotic leather industry. In stimulating shopping tourism and promoting the local exotic leather industry, it is crucial to understand tourists’ underlying perceptions and sustainable values that influence their luxury shopping behaviour. Using animal skins to create fashion accessories involves several environmental concerns and remains controversial among American and Chinese consumers, who rank among the world’s top luxury goods spenders. This research, therefore, investigated American and Chinese shopping tourists’ luxury value perceptions, sustainability excellence perceptions, and purchase intent for South African exotic leather products. Data was derived from a purposive sample including both American and Chinese tourists, aged 25 years and older, who had either visited South Africa in the past or intended to visit the country soon. A structured online questionnaire consisting of scales adapted from prior empirical research was developed. The English version of the questionnaire was translated into Mandarin and Cantonese for Chinese tourists. Data analysis involved two structural equation models (one based on the American and another on the Chinese tourists’ responses) to test hierarchical relationships among variables. The results confirm that personal luxury value strongly influences sustainability excellence and the purchase intent of exotic leather products for both American and Chinese respondents. These findings highlight the potential of positioning South Africa as a luxury shopping tourism destination for exotic leather products, thus contributing toward economic growth and employment opportunities. However, environmental concerns must be addressed to conform to Eastern and Western tourists' sustainable luxury value perceptions.

Masstige buyers: Profile, perceived luxury values and purchase intentions

AbstractAs the term masstige has only recently emerged, the literature on masstige branding and marketing remains relatively limited. More research is needed to understand better the distinct profiles of masstige and luxury buyers, their perceived luxury values and purchasing motives. Our study, involving 601 UK consumers, aims to address this gap. Based on consumers' self‐reported prior experiences with masstige and luxury brands, we identify four distinct consumer segments: Premium luxury Buyers, Masstige Buyers, Buyers of Both Premium luxury and Masstige, and Non‐luxury buyers who have not previously purchased either Premium luxury or Masstige brands. We then explore each segment's socio‐demographic profiles, their luxury value perceptions, and how these values influence their purchase intentions. Individuals across diverse income levels, spanning low, middle, and high, fall into four distinct segments with unique luxury perceptions. Premium luxury buyers are characterized as socially oriented perfectionists, while masstige buyers align with hedonic materialism. Buyers of both seek self‐distinction. Non‐luxury buyers spire for group conformity, prioritizing experiential enjoyment when given the opportunity. Furthermore, our study offers a practical value‐based positioning framework and a roadmap for brands looking to expand their target markets. This framework can be a valuable resource for luxury marketers seeking to refine their positioning and better align with the values that resonate with their target audiences.

A study of young women consumers' attitudes and purchase intentions towards luxury apparel & accessories in India

This research provides empirical support to the luxury value perception model (LVP) created by Wiedmann et al. (2009) influencing purchase intentions of luxury apparel and accessories of young generation Z women consumers, categorizing their value perceptions across functional, individual, and social dimensions. Data collected through a questionnaire across 209 generation Z women consumers of India and analyzed using structural equation modeling, depicts a positive relationship between Self-identity and Prestige in social networks with purchase intention of luxury fashion and accessory brands of young women consumers. Hence, the high involvement of consumers with luxury fashion brands directly influences their self-concept and low prestige in social networks inversely leads the consumers to make high-value luxury purchases. The findings of this research provide valuable insights to build business practices and strategies of luxury fashion and accessory brands trying to gain inroads in the Asian and most preferably Indian markets

The Influencing Factors of Online Marketing on College Students’ Luxury Consumption in China: Based on Grounded Theory

This study aimed at the influencing factors of luxury online marketing on the consumption behavior of Chinese college students in the post-epidemic era. In-depth interviews and grounded theory were used to study the influencing factors of content production by using the collected text and audio materials as coding sources. The study found that the main influencing factors are platform service, stimulated desire, luxury value, functional value, and risk perception. Among them, luxury value stimulates desire, and functional value increases the willingness to pay consumers. Consumers’ Risk perception will inhibit their willingness to pay for them. The impact of platform services on consumers is a neutral factor. Therefore, to promote the purchase rate of college students’ luxury online marketing, it is necessary to have good platform services, strengthen the luxury value and functional value, stimulate desire, and reduce risk perception.

ANALISIS PENGARUH LUXURY VALUE PERCEPTION DAN ETHICAL CONCERN TERHADAP PURCHASE INTENTION DALAM PEMBELIAN PERHIASAAN EMAS DAN PERAK DI DENPASAR

This study aims to analyze the influence of Luxury Value Perception and Ethical Concern on Purchase Intention in the purchase of gold and silver jewelry in Denpasar. This research includes a type of confirmatory research, which will explain the causal relationship between independent variables and dependent variables through hypothesis testing. The data used in this study are primary data. The primary data obtained was obtained directly from the questionnaire that had been filled out by respondents, namely people domiciled in Denpasar. The data collection method used in this study was the questionnaire method. The data analysis techniques used in this study are descriptive statistics and Second Order Partial Least Square (PLS) analysis techniques with the Smart PLS Program. The results of the hypothesis testing carried out showed that (1) there was a significant influence between Luxury Value Perception and Purchase Intention; (2) Ethical Concern has a significant influence on Purchase Intention. The implication in this study is that Purchase Intention can be achieved with Luxury Value Perception and Ethical Concern. Meanwhile, the conclusions obtained from the results of this study are (1) Luxury Value Perception has a significant effect on Purchase Intention; (2) Ethical Concern has a significant influence on Purchase Intention on the purchase of gold and silver jewelry in Denpasar.

The Paradox of Sustainability and Luxury Consumption: The Role of Value Perceptions and Consumer Income

For many years, the concept of sustainability and luxury has been considered a paradox. Despite scholars’ efforts to highlight the compatibility between sustainability and luxury, the limited studies have shown mixed and inconclusive evidence. By adopting the luxury-seeking consumer behavior framework, this study examines the relationship between luxury value perceptions (i.e., conspicuous, unique, social, emotional, and quality values) and sustainable luxury products consumption. It also identifies the value dimensions that most discriminate between heavy and light consumers of sustainable luxury products and examines the moderating effects of consumer income. Using 348 survey responses from actual consumers of luxury goods in Qatar, hierarchical multiple regression and discriminant analyses were conducted to test the hypothesized relationships. The results suggest that all five value perceptions explain a significant amount of variance in sustainable luxury consumption and discriminate between heavy and light sustainable luxury consumers. However, the moderating effects of consumer income in the relationship between values and sustainable luxury consumption revealed mixed results. The findings of this research provide key theoretical and managerial implications.

Exploring the antecedents of masstige purchase behaviour among different generations

Abstract The present study proposes the conceptual model, which traces the role of consumers’ high-quality consciousness, perceived brand equity, and luxury value perceptions on the intention to purchase masstige brands and tests it for the moderating role of generational cohort membership (X-ers, Y-ers, and Z-ers). To explore the relationship between variables of interest, we used a quantitative survey-based research design and emphasised a single product category – consumer electronics and a single masstige brand – Apple. The online survey questionnaire was developed on the Google platform and distributed among residents of Bosnia and Herzegovina using a snowball sampling technique. In the end, we received 354 usable responses. We used structural equation modelling and multigroup analysis to test the proposed conceptual model. Our findings suggest that quality consciousness is the most significant predictor of consumers’ intentions to buy a masstige brand, followed by perceived brand equity. Also, our results indicate that the relationships between independent variables (consumer-based brand equity, quality consciousness, overall luxury value) and dependent variables (intention to purchase a masstige brand) are contingent on generational differences. The present study deepens our scholarly understanding of masstige consumption and contributes to the theoretical notion of generation cohort theory in the context of masstige consumption.

Key Determinants of Luxury Marketing Accordant with Sustainability-Oriented Value Perspectives

Thus far, Luxury as Usual has rested on conventual forms of value, such as rarity, excellence, and uniqueness. Nevertheless, today, luxury value perceptions have been changing dramatically, with the emergence of new luxury consumption patterns as well as sustainability-oriented value perspectives. The overarching aim of the current study is to guide tradition-bound luxury brands in attaining competitive advantage by tapping into the key determinants of sustainable luxury. In tackling the key determinants, the paper aspires to provide a theoretical lens by building on the “Four-Stage Model of Value Creation for Sustainability-Oriented Marketing”. This paper also offers a roadmap for luxury brands in transforming their traditional-oriented marketing strategies by providing a “4 × 6 Matrix for the Key Determinants of Sustainable Luxury”, which codifies and systematizes sustainability-oriented luxury marketing.

The role of luxury value perception in consumer behavior towards counterfeit luxury goods: the case of Moroccan consumers

The role of luxury value perception in consumer behavior towards counterfeit luxury goods: the case of Moroccan consumers

Conceptualizing masstige buying behavior: A mixed-method approach

This study is an attempt to advance the theory of masstige marketing by conceptualizing the masstige buying behavior. The masstige theory is in the infancy stage, with little advancement in consumer behavior. Therefore, a mixed-method approach was used to explore the antecedents of behavioral intention towards masstige brands. Based on the qualitative personal interviews conducted with16 iPhone users and drawing from theory, three dimensions of value and two dimensions of aspirations grounded in luxury value perception framework and conspicuous consumption theory were identified as the antecedents for behavioral intention towards masstige brands. These factors were used to develop a comprehensive theoretical framework that was tested through a quantitative survey (n = 378). The structural equation modeling approach revealed functional value, vanity value, and achievement signaling as the determinants of purchase intention for masstige brands. It was also found that purchase intention influences perceived brand happiness and attitudinal loyalty.

Is luxury democratization impactful? Its moderating effect between value perceptions and consumer purchase intentions

Luxury goods, once exclusive to the elite of the society, are now available to a markedly large customer segment, mainly due to the process of democratization. However, academic scrutiny on the influence of democratization on luxury consumption is lacking. This research aims to fill this crucial gap in the extant body of knowledge by offering a unified conceptualization of the construct - democratization of luxury. The study operationalizes this pivotal construct followed by empirical evidence on how democratization has a moderating impact on the relationship between different luxury value perceptions and luxury purchase intentions. This first academic empirical exploration on luxury democratization provides several theoretical advancements and aims to assist luxury brands in developing a coherent long-term positioning strategy to manage this unique challenge.

Luxury consumption and the moderating role of attitude toward counterfeits: The case of an emerging market

The purpose of this research is to investigate the moderating role of positive attitude toward economic benefit of counterfeit products in the relationship between luxury value perception and purchase intention of luxury brands among Iranian consumers. Data were collected using questionnaires, which were completed by 386 customers at various shopping malls. Structural equation modeling was used to test the direct hypotheses in Amos v.18, and moderated regression analysis to test the moderating hypothesis in SPSS v.19. The results indicate that financial and social value are important drivers of luxury value perception in shaping the purchase intention of consumers, while functional value is not involved in this regard. Moreover, attitude toward counterfeits, as a moderator, reduces the positive effect of luxury value perception on purchase intention. This research provides important insights not only with regard to market entry decision-making but also to develop marketing strategies for positioning a luxury brand in an Asian emerging market. The findings could be potentially generalized to other developing countries in the Middle East with analogous socioeconomic and cultural circumstances. While several studies have been conducted regarding counterfeiting and luxury brand consumption, this is an initial investigation on the moderating role of positive attitude toward economic benefits of counterfeits in the relationship between luxury value perception and purchase intention in the context of an emerging market. This research facilitates further investigations in this regard.

Value-Based Segmentation of Generation Z Women Consumers of India : Replication and Validation of Model

This research aimed at understanding the luxury value perceptions of generation Z women consumers of India by using the luxury value perception model (LVP) given by Wiedmann et al. (2009). This study tried to validate and replicate the Wiedmann model, which categorized luxury values as financial, functional, individual, and social, using the emerging generation Z women consumers of India as a context. Data were collected from 208 women consumers across India using an online questionnaire from January – March 2021. The findings validated the usage of the LVP model to create homogeneous clusters based on the preferred luxury values of the generation Z women consumers. The overall luxury values which motivated the Indian generation Z women consumers towards luxury purchases are hedonic values (self-gift giving extravagance) followed by functional value (uniqueness) and then individual values (materialistic value). The results also validated the research done by the authors (Hennigs et al., 2012) later, finding interesting similarities between Indian, German, and US consumers. By identifying the drivers of luxury purchases for young emerging women consumers of India, the outcome of this research would enable luxury brand marketers and branders to build successful marketing strategies to be more profitable.

Role of religiosity and the mediating effect of luxury value perception in luxury purchase intention: a cross-cultural examination

PurposeThis study aims to explore the relationship between consumers’ religiosity, their perceived functional, individual and social value of luxury and their luxury purchase intention.Design/methodology/approachThe proposed relationships were explored in an intercultural setting by using samples from two considerably different cultures, Saudi Arabia and India. The identified constructs were measured by adapting the established scales. Statistical tests including exploratory factor analysis, multi-group confirmatory factor analysis and covariance-based structural equation modeling were applied to test the conceptual model and research hypotheses.FindingsThe results show that religiosity is not found to be negatively related to luxury purchase intention in both samples. Moreover, it was found that the functional and social values produce positive mediating effects, whereas the individual values (materialism, hedonism) of luxury products negatively mediate the relationship between religiosity and consumer purchase intention.Practical implicationsThis research suggests that a non-traditional strategy may be effective to market luxury goods to religious consumers such as suppressing the materialistic aspect to focus on the quality and functionality aspects of the products.Originality/valueThe role of luxury value perception as a mediator between religiosity and luxury purchase intentions has not been studied in the previous researches to the best of authors’ knowledge, and is therefore, the unique contribution of this study. This research addresses the gap in the existing body of knowledge by probing how religiosity effects perceptions of luxury value and resultant luxury purchase intention.

Emerging adults’ luxury fashion brand value perceptions: A cross-cultural comparison between Germany and China

ABSTRACT This paper explores the differences in luxury fashion brand value perceptions between German and Chinese Generation Y’s emerging adults. This study chose Chinese and German young adults aged between 18 and 25 as the primary data source. An online self-administered questionnaire was selected as data collection method. One hundred and ninety-nine observations were retained. Sample size was deemed sufficient to test our hypotheses based on the most conservative minimum-sample-size methods. The outcomes indicate that the multi-dimensional nature of luxury fashion ascertained in literature appeals to Generation Y’s emerging adults across both countries. However, multiple unexpected cross-national differences regarding the importance attributed to specific value dimensions of luxury fashion are found. Chinese emerging adults have higher socio-symbolic, hedonic, and functional as well as higher price value perceptions of luxury fashion compared to their German peers. This study helps luxury fashion brand managers to attune their customer value propositions to the expectations of Generation Y’s younger cohort members from Germany and China under consideration of cultural particularities. Results suggest that marketing strategies conceived in disregard of cultural dynamics might prevent luxury fashion brands from fully leveraging market potentials across different geographies.

Does Perception of Luxury Differ in Eastern (Collectivism) Verse Western (Individualism) Cultural Orientation: Evidence from Pakistan

Social, functional, and personal value perceptions are the basic dimensions of “luxury.” However, the subjective character and the relativity of luxury create difficulties in defining and measuring it. One category of relativity is cultural relativity, where divergent cultural framings and continual philosophical debates regarding luxury drive complexes and ambivalent consumer attitudes. This study examines differences in luxury value perceptions and their influence on luxury purchase intentions among collectivists and individualists. For this, we applied the Aliyev & Wagner (2018) model to the Pakistani environment. Attributes of Value perception included 1. Uniqueness, 2. Conspicuousness, 3. Quality, 4. Price, 5. Hedonic Value, 6. Subjective Norms (acceptability in a social circle), and 7. Satisfying Extended-Self. Empirical validity was established by conducting a survey using a close-ended questionnaire. Data was collected from 416 respondents which were consumers of luxury brands in Karachi and analyzed using confirmatory factor analysis and structured equation modeling multigraph analysis. The results showed that quality and price seems to have a positive and significant impact on Luxury Purchase Intention (LPI) in both cultures, with price having a more pronounced effect in individualistic culture as compared to collectivism, whereas extended-self remained insignificant for both. Conspicuousness and Subjective Norms seems to have a positive impact on LPI, whereas the same seems to have a negative effect on LPI. Meaning these have a perception of luxury in collectivist culture but not individualist culture. Similarly, Hedonic and Uniqueness seem to be driving the concept of luxury in individualistic cultures, as it has a significant positive impact on LPI, on the contrary, these two have a negative effect on the perception of culture in collectivism. Hence, the findings suggested that cultural relativity is a crucial factor in luxury perception, and luxury brands should consider cultural sensitivities when designing their products and communications.

Exploring relationship between value perception and luxury purchase intention

Purpose Although India is home to the world’s largest millennial population, so far, hardly any studies exist that explain the key drivers leading to the luxury goods consumption among this generational cohort. Therefore, the purpose of this paper is twofold: first, to develop and empirically test the conceptual framework designed to measure the relationship between luxury value perceptions and purchase intentions among the young Indian luxury consumers, and, second, to examine the moderating effect of gender in the relationship between luxury value perceptions and purchase intentions. Design/methodology/approach A purposive sampling technique was employed to collect the data from young luxury fashion consumers. Statistical tests including confirmatory factor analysis, multi-group analysis and structural equation modeling were applied for data analysis. Findings The findings show that the conspicuous value is the most significant determinant of luxury purchase intention followed by the experiential value, susceptibility to normative influence and utilitarian value. The uniqueness value was found to have weak relationship with purchase intention. Furthermore, results revealed that the relationship between the luxury values and the luxury buying intentions does not vary significantly between male and female. Originality/value This is one of the first studies that provides meaningful insights to the academicians and marketing practitioners about why millennials buy luxury fashion brands in emerging markets like India.

SOCIAL VS. FUNCTIONAL LUXURY VALUE: THE IMPACT OF SOCIAL MEDIA INTERACTION ON CONSUMERS’ LUXURY VALUE PERCEPTION AND PRODUCT CHOICE

When social media users post their opinion on social media, they might expect to receive a favorable evaluation from others (e.g., ‘like’ on Facebook and ‘heart’ on Instagram). On the contrary, when users read and evaluate other’s posts, they are less likely to care about others. What’s more, if users spend more time on social media, posting would make them more care about others. This research answers the question ‘Does social media interaction alter the way we perceive value and affect different choice? Three studies show 1) how social media interaction affects consumers’ luxury value perception and the mediating role of social media self-view (interdependent vs. independent self), 2) how main effect and mediated relationship are different between two groups divided by participants’ time spent on social media (high vs. low: ±1 SD) and 3) how the type of social media interaction (post vs. “like”) affects handbag choice between social and functional luxury-superior option.

Standing out vs fitting in: luxury value perception and acculturation

PurposeThe purpose of this paper is to understand the impact of American culture-oriented values, Chinese culture-oriented values and self-improvement values on luxury value perception through acculturation by examining an acculturated sample (Chinese living in the USA), a host cultural sample (Caucasian-American) and a home cultural sample (Mainland Chinese).Design/methodology/approachIn order to examine the acculturative changes of Chinese living in the USA in terms of the influence of American and Chinese culture-oriented values and self-improvement values on their luxury value perception, data were collected via three online samples: host (American), home cultural (Chinese) and acculturated (Chinese living in the USA). Effects of acculturation were tested via comparisons between acculturated to host and home cultural samples.FindingsCompared to that of Mainland Chinese and Caucasian-Americans, luxury value perception of Chinese living in the USA is jointly influenced by both American and Chinese culture-oriented values. The influence of cultural values on luxury value perception of Chinese living in the USA is not strengthened by their wish to integrate into the American culture or to maintain their Chinese culture. Nevertheless, Chinese living in the USA show more significant self-improvement (standing out) and conformity (fitting in) motives in luxury value perception when they wish to integrate into the mainstream culture.Originality/valueThe authors surveyed acculturated sample, host and home cultural samples to test the bidimensional acculturation model (Berry, 1997) in the context of luxury consumption. Although the conceptual model is not fully supported, this research broadens current understanding of the effect of acculturation on luxury value perception.