Factors Influencing Consumer Purchasing Behavior Regarding Luxury Brands

Vimalnath V, Gururaj Phatak, Pushpa Hongal, Vishal Kumar R, Varsha Agarwal, Guruprasad Ramakrishna Naik

2023

Abstract

The luxury market in India is undergoing rapid growth, driven by enriched earning salary and profits in both urban and rural areas, a young demographic advantage, heightened visibility in retail, advertising, and greater consumer exposure. Factors such as fashion, lifestyle, social value, and the willingness to spend are influencing modern shoppers to purchase luxury brands to fulfil their psychological needs and boost their self-esteem. Owning luxury merchandise has become a statement of one’s essence. This research aimed to delve into the complex dynamics of consumer purchasing behavior (CPB) in relation to luxury branded products. The study utilized several factors, including Materialism, Price-Quality considerations, Social Status aspirations, and Brand Trust, as independent variables, to examine their potential impact on the dependent variable, Consumer Buying Behavior (CBB). Data were collected through a well-designed structured questionnaire distributed to 180 respondents who displayed a specific interest in luxury fashion clothing. The data collection process involved emailing the questionnaire to friends and colleagues, and the responses were systematically gathered and analyzed using the statistical software SPSS. It is important to note that the sample population of 180 respondents had limited diversity and may not fully represent the entire population, indicating a scope for further improvement in future research endeavors.

Paper Citation

in Harvard Style

V V., Phatak G., Hongal P., Kumar R V., Agarwal V. and Ramakrishna Naik G. (2023). Factors Influencing Consumer Purchasing Behavior Regarding Luxury Brands. In Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR; ISBN 978-989-758-687-3, SciTePress, pages 912-916. DOI: 10.5220/0012526600003792

in Bibtex Style

@conference{pamir23,
author={Vimalnath V and Gururaj Phatak and Pushpa Hongal and Vishal Kumar R and Varsha Agarwal and Guruprasad Ramakrishna Naik},
title={Factors Influencing Consumer Purchasing Behavior Regarding Luxury Brands},
booktitle={Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR},
year={2023},
pages={912-916},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012526600003792},
isbn={978-989-758-687-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st Pamir Transboundary Conference for Sustainable Societies - Volume 1: PAMIR
TI - Factors Influencing Consumer Purchasing Behavior Regarding Luxury Brands
SN - 978-989-758-687-3
AU - V V.
AU - Phatak G.
AU - Hongal P.
AU - Kumar R V.
AU - Agarwal V.
AU - Ramakrishna Naik G.
PY - 2023
SP - 912
EP - 916
DO - 10.5220/0012526600003792
PB - SciTePress