Authors: Sheetal Jain
Addresses: Luxe Analytics, New Delhi, India; IMT Ghaziabad, Raj Nagar, Ghaziabad, Uttar Pradesh 201001, India
Abstract: Indian luxury market is expected to grow tenfold in the next decade. Young consumers are the key factor driving the growth of Indian luxury market. Yet, hardly any study has been performed to understand young consumers' luxury consumption behaviour in India. Therefore, the main objectives of this study is to examine firstly, the influence of personal and non-personal luxury values on consumers' attitude and subjective norms and secondly, the influence of these variables on consumers' purchase intentions and behaviour towards luxury fashion goods using theory of reasoned action (TRA). Results show that hedonic value is the key predictor of young consumers' attitude towards purchase of luxury fashion goods. In addition, conspicuous value and social value are found to have positive impact on consumers' subjective norms. The findings of this study have important implications for both academicians and practitioners.
Keywords: India; luxury values; luxury purchase behaviour; structural equation modelling; theory of reasoned action; TRA.
International Journal of Indian Culture and Business Management, 2021 Vol.22 No.1, pp.66 - 88
Received: 17 Jun 2019
Accepted: 01 Dec 2019
Published online: 04 Jan 2021 *