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Journal cover: Journal of Fashion Marketing and Management

Journal of Fashion Marketing and Management

ISSN: 1361-2026

Online from: 1996

Subject Area: Marketing

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Luxury consumption factors


Document Information:
Title:Luxury consumption factors
Author(s):Melika Husic, (School of Economics and Business, University of Sarajevo, Sarajevo, Bosnia and Herzegovina), Muris Cicic, (School of Economics and Business, University of Sarajevo, Sarajevo, Bosnia and Herzegovina)
Citation:Melika Husic, Muris Cicic, (2009) "Luxury consumption factors", Journal of Fashion Marketing and Management, Vol. 13 Iss: 2, pp.231 - 245
Keywords:Bosnia and Herzegovina, Consumer behaviour, Consumption, Design, Premium products
Article type:Research paper
DOI:10.1108/13612020910957734 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Abstract:

Purpose – The purpose of the paper is to analyse the luxury market and determine the factors that determine luxury consumption. Luxury consumption has been neglected, and yet many questions arise concerning the underlying dimensions of luxury shopping.

Design/methodology/approach – Two scales were used: questions concerning luxury consumption were used in order to determine the sample of luxury consumers, and a PRECON scale was used to measure individual differences in consumers’ prestige shopping preferences. After the scale validation process, factor analysis was conducted, along with regression analysis of all PRECON factors.

Findings – The results show that in this market consumers perceive quality as a brand determinant. Further, strong patron status suggests a “snob effect” among respondents, who buy exclusive items in an attempt to distinguish themselves. Hence, rare products indicate respect and prestige among the respondents. Furthermore, this paper defines two sub-categories, namely “old aristocracy” and “new money”, with the latter more ascendant in the case of a developing market. It also showed that luxury consumers behave similarly worldwide, regardless of economic or social surroundings.

Research limitations/implications – Luxury consumption should be put in the context of psychological determinants, and perhaps tested according to lifestyle.

Originality/value – This paper brings attention to luxury consumption, its motives and consumer styles.



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