A study of consumer behavior on luxury goods

Abstract

Purpose This study aims to examine the consumer behavior on high fashion brands and relationships among variables like fashion orientation, price consciousness, influence of store attributes and impulse buying in the context of shopping. The study also aims to do a cohort analysis across two age groups (viz. 16-35 years and 36-55 years) to examine the relationships of the above mentioned variables. Design/methodology/approach A self-administered questionnaire was developed and was administered to 53 respondents in Bangalore through mall intercept survey and online survey. Findings The respondents mostly came out to be the consumers who perceive price as an indicator of exclusivity the consumers who rely on their own perception of the product's quality . The respondents in the age group 36-55 years are more luxury fashion oriented than the age group of 16-35 years. Store attributes are significantly important for age group 36-55than the age group of 16-35 Sense of belonging , Being well respected , Fun and enjoyment and "Security" came out tothe most important values. Most of the respondents watch Sports or News channel and read Auto or business magazines. Research limitations/implications This study was limited to Bangalore and the sample size taken is small. Practical implications The luxury stores could position themselves as exclusive and high quality. At the same time, store attributes seem to be an important influencing factor. Hence the retailers should pay attention to in-store experience. Also the retailers continually need to encourage consumers' impulse purchase through store ambience, variety and savvy sales persons. The consumers can be targeted through Sports or News channel and Auto or business magazines.