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Affordable luxury consumption: an emerging market's perspective
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Journal Article
Affordable luxury consumption: an emerging market's perspective
2023
Overview
PurposeThis study aims to focus on proposing and empirically validating a model that captures certain critical socio-psychological factors that nurture consumers' attitude towards affordable luxury brands in an emerging market context of India.Design/methodology/approachThe data were collected via a cross-sectional questionnaire survey from 491 customers of different fashion accessory luxury products in India. The data were analyzed through structural equation modelling (SEM) using AMOS 23.0 SEM software.FindingsThe findings of this study reveal that conspicuousness, status consumption, brand name consciousness, need for uniqueness and hedonism positively affect consumer attitude towards affordable luxury, which consequently affects consumers' purchase intention. The findings further reveal that age acts as a moderator in driving consumers' neo-luxury consumption.Originality/valueBy uniting various socio-psychological factors with consumer attitude and purchase intention in a conceptual model, along with studying the moderating role of age, this study responds to the calls for further research regarding affordable luxury and offers a more granular understanding of specific consumer motivations that guide Indian consumers' affordable luxury consumption.
Publisher
Emerald Publishing Limited,Emerald Group Publishing Limited
Subject
