The effect of perceived scarcity on strengthening the attitude–behavior relation for sustainable luxury products

Purpose This study aims to examine whether, and how, perceived product scarcity strengthens the attitude–behavior relation in the case of sustainable luxury products. Design/methodology/approach Three online studies were conducted to examine the moderating role of perceived product scarcity on the attitude–willingness to pay (WTP) relationship in the case of sustainable luxury products. A preliminary study (n = 208) examined the existence of an attitude–WTP gap toward a sustainable luxury product (i.e. a bag). Study 1 (n = 171) investigated the moderating effect of perceived scarcity induced by a limited quantity message on the relationship between consumer attitude and the WTP for a sustainable luxury product (i.e. a pair of shoes). Study 2 (n = 558) replicated these findings using a different product category (i.e. a wallet) while controlling for demographic variables and examined the moderating role of consumer characteristics on the scarcity effect. Findings Consumers’ perceived scarcity for sustainable luxury products positively moderated the relationship between product attitudes and their WTP for the products. The moderating effect of perceived scarcity was significant for consumers regardless of their tendency toward socially responsible consumption and their preference for product innovativeness. Meanwhile, the scarcity effect was influenced by the consumers’ attitude toward the brand of sustainable products. Practical implications This research provides empirical evidence for marketers with clear managerial implications concerning how to immediately promote consumers’ acceptance of sustainable luxury products. Originality/value This study is the first to examine the role of scarcity strategy on strengthening the attitude–behavior relation for sustainable luxury products.

Are E-Commerce (Shopping) Companies Targeting the Right Segment in India

The traditional trade and business are increasingly getting tough competition from e-commerce. E-commerce has reached most of the consumers in the urban sector and the youth, but the challenge lies in front of the companies so that it reaches the rural sector and the aged people. The rural population of India has to go to nearby cities to purchase luxury products. E-commerce can widen its area of operations and come to their help. Also, thanks to Jio, the people aged more than 45 and the retired are increasingly getting digital in the urban areas. Many of them still purchase the old-fashioned way, but they may adapt to e-commerce as they are adopting the digital world. Here, e-commerce can get new market segment without changing much in their logistics. A thing that is critical within the digital marketplace is the profound understanding of people, their behavior, and their community.

The Democratization of Luxury Products with Influencer Marketing

Female influencers, who are enthusiastic about disclosing their lifestyles to the masses on social media on topics ranging from giving personal skin care to themselves at their homes to matching different outfits and creating combinations for date nights as the latest fashionistas, to preparing diet and healthy meals for having a fit body shape, or showing how to exercise to have a balanced work-out, try to change the lifestyle habits and the conversation topics in the lives of many young people by presenting themselves as opinion leaders, view affecters or digital penetrators (Deniz, 2021, p. 49). Lifestyle influencers who prepare make-up tutorials in which they set the new trends by also adding parts from their own lives such as going shopping and purchasing different outfits, and going for a meeting with a group of friends at a restaurant with a luxurious product such as a bag, not only help the dissemination of brand awareness, but also motivate young people to try new masstige products by inciting them to hedonic shopping. Many lifestyle influencers are fond of luxury products and they prepare vlogs in which they open a special luxury product such as a bag and this can be named as a transformation of luxury products because these special goods that address to the elite become visibly available to the masses through social media, which is a populous tool. This research aims to show what influencer marketing is in fact about and how influencer marketing creates brand awareness of luxury products by showing these products as a part of influencers’ lifestyle. The results show that influencers’ introduction of luxury products on social media helps the democratization process of luxury products.

Specific Features of Luxury Products Branding

In this modern world characterized by rapid change, the role of marketing is increasingly important. Developing a brand is one way in which a competitive advantage can be achieved. The work defines the concept of luxury through the prism of marketing, shows the specifics of marketing in the luxury products market and the key factors that influence the demand for luxury products. The paper found that the key to success is to effectively create a market strategy whose main goal is to create a strong and emotional long-term relationship between the brand and the consumer. Also, the new trend of "abundant rarity" has led companies in the luxury goods sector to strive to strike an optimal balance between exclusivity and affordability.

The role of socio-psychological and personality antecedents in luxury consumption: a meta-analytic review

PurposeThis paper conducts a meta-analytic review of literature focused on the salient socio-psychological and personality antecedents of luxury purchase intention. It investigates the role of moderators that can assist an effective market segmentation of the luxury market in both emerging and developed economies.Design/methodology/approachThe final analysis includes 95 effect sizes from 42 studies conducted in 15 countries, spanning 5 continents, from 2000 to 2020. The review examined moderating role of Hofstede's cultural dimensions, market type (emerging vs developed) and other study characteristics.FindingsFindings show that socio-psychological antecedents had a more salient role than personality antecedents in driving luxury purchase intention (LPI), across both emerging and developed markets. Normative influence, status consumption and materialism exhibited a stronger influence on LPI in emerging markets than developed markets. Further, stronger effects for normative influence and status consumption on LPI were found in high power distance cultures. The role of seeking uniqueness was more salient and the role of normative influence was less salient in studies with a higher percentage of females. Conspicuous consumption was a stronger driver of LPI for fashion luxury products than other luxury products. The study also proposes distinct definitions of status and conspicuous consumption as there is often theoretical overlap of these constructs in literature.Research limitations/implicationsA meta-analytic review may leave blind-spots due to lack of sufficient number of studies investigating certain theoretically relevant moderators. The authors discuss these gaps, along with study limitations.Originality/valueTo the best of the authors’ knowledge, no previous study has conducted a meta-analytic review of the antecedents and moderators of LPI. With the extension of luxury demand beyond the developed countries in the West to the “new rich” consumers in the East, it becomes imperative to conduct a meta-analysis for a richer understanding of the drivers of luxury demand across different cultural orientations and market segmentations.

Illuminated Manuscripts: Secular

Illuminated manuscripts with non-religious content—texts on literature, medicine, science, warfare, geography, hunting, and history—typically derive from illuminated Classical and Late Antique texts. Over time, the direct, explicatory images accrued additional features and sometimes transformed into full miniatures with settings and humans performing actions or demonstrating effects. Artists relied mostly on convention and formulae but can be occasionally glimpsed responding to the necessity of producing an original image. As with religious books, secular programs can be analyzed to discern particular agendas, usually of commissioners or intended recipients, while the books themselves had practical application—instructions on building a siege machine or what plant not to consume—as well as serving as luxury products for reading, presentation, even performance.

Luxury during trade tensions. The influence of economic animosity, cosmopolitanism and patriotism on intention to buy foreign luxury products

PurposeUsing trade tensions as a background scenario, the study aims to investigate the dynamics of coexistence between cosmopolitan trends and the patriotic moods of luxury consumers, and how these feelings interact with both economic animosity and intention to buy luxury products originated in the hostile country.Design/methodology/approachThe analytical framework was tested through an empirical survey carried out on Russian and Chinese consumers. In total, 766 questionnaires were collected and were analysed using structural equation modelling method.FindingsResults confirm that patriotic sentiments and economic-based feelings are negatively associated with intentions to buy luxury products that originated in the hostile area. Furthermore, results show that cosmopolitanism positively influences intention to buy. However, the positive effect of patriotism on economic animosity combined with its indirect effect on the intention to buy may reduce the strength of luxury products.Practical implicationsThe study has practical implications since it identifies strategic suggestions for luxury companies' managers. More specifically, they have to be aware of the patriotic trends affecting Russian and Chinese consumers and should actively seek to leverage local partners' knowledge in order to better connect with customers' expectations.Originality/valueThe study contributes to a better understanding of the influence exerted by cosmopolitan orientation and patriotic feelings on luxury goods purchase intentions. The study also examines cosmopolitanism and patriotism as antecedents of animosity, which have not been extensively researched in the past with respect to the luxury sector.

Quiet versus loud luxury: the influence of overt and covert narcissism on young Chinese and US luxury consumers' preferences?

PurposeThis study examines the impact of narcissism on young luxury consumers' preferences for quiet versus loud luxury products in China and the United States. As young consumers are increasingly becoming the bedrock of global luxury growth, it is imperative for marketing researchers and practitioners to understand the psychological and social needs of these consumers.Design/methodology/approachA two-study examination of young Chinese and US luxury consumers suggests that the two types of narcissism influence luxury consumption in different ways. Study 1 is a survey of young Chinese consumers that examines how the impact of narcissism on luxury purchase is mediated by social attitude functions and moderated by social anxiety. Study 2 is an experiment conducted in both the United States and China that establishes the causal relationship between the different types of narcissism and purchase intention toward quiet versus loud luxury products.FindingsBuilding on an overarching framework that integrates both the narcissism literature and social attitude function theory, this study shows that overt narcissistic (vs. covert) consumers hold a value-expressive (vs. social-adjustive) attitude toward luxury products, which leads them to prefer quiet (vs. loud) luxury. In addition, higher levels of social anxiety enhance the mediating role of narcissistic consumers' social attitude functions.Originality/valueThis study advances understanding of young Chinese and US luxury consumers' narcissistic consumption patterns by proposing and empirically testing a novel research model that examines the mechanisms by which overt and covert narcissism leads to a different preference of quiet and loud luxury via the routes of different social attitude functions.

IMPACT OF CONSUMER PERCEPTION ON PURCHASE INTENTION OF LUXURY PRODUCTS

Though the current era has seen a huge extent of recession, due to the Covid 19 issue. But, the consumption of luxury products is seen to be remaining unchanged, even after the recession period. The concept of luxury can be seen in every place. It is the term which is commonly used by the individuals in their daily life. Luxury is the dream of every person for leading an exclusive lifestyle. It is the main element in the field of marketing management and also is a tagline in the campaigns of advertising and commercials. The study is done to examine the effect of consumer perception on the purchase intention of the luxury products. The respondents of the study are the consumers of luxury products residing at Chennai and they are selected through simple random sampling. The collection of data needed for the study is carried out using a questionnaire and the analysis is done by executing regression. The results of analysis show that the purchase intention was highly influenced by the consumer perception.