Luxury consumption: The decision process

Title

Luxury consumption: The decision process

Creator

Singha, Ranjit; Singha, Surjit; Haokip, Alphonsa Diana; Sreethi, Rebeka R.; Thomas, Rejoice

Description

This chapter explores the luxury consumer decision process, highlighting the psychological, social, and cultural factors that influence luxury purchases. Consumers are driven by emotional and social motivations, such as self-expression and status, which shape their buying behaviors. Social and cultural differences require marketers to adapt strategies to diverse regional preferences. As digital technologies transform the luxury market, brands face the challenge of maintaining exclusivity while embracing e-commerce, social media, and influencer marketing. To remain competitive, luxury brands must leverage psychological insights and digital tools to create personalized, engaging experiences. The future of luxury consumption will depend on brands' ability to build meaningful connections with consumers, fostering loyalty and ensuring long-term success in an evolving market landscape. 2025, IGI Global Scientific Publishing. All rights reserved.

Source

Effective Marketing and Consumer Behavior Tactics for High-End Products;pp.167-200

Date

01-01-2025

Publisher

IGI Global

Coverage

Singha R., Christ University, India; Singha S., Kristu Jayanti College, India; Haokip A.D., Don Bosco College, Maram, India; Sreethi R.R., Christ University, India; Thomas R., Christ University, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 979-836938741-2; 979-836938739-9;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.4018/979-8-3693-8739-9.ch007

https://www.scopus.com/pages/publications/105008486631?origin=resultslist