Factors influencing consumer-buying behavior of luxury fashion goods : a research on young consumers in Malta

Abstract

The concept of luxury has increased exponentially during the years. The materialistic lifestyle that some consumers are happy to lead encourages a sense of urgency in being a proud owner of a luxury good and entering the sphere of being referred to as a luxury consumer. The aim of the study was to analyze the factors that influence Maltese young consumer when purchasing luxury fashion goods, with close reference to the characteristics that makeup a luxury brand and the hedonic and utilitarian motivational dimensions behind such purchase. For the purpose of this study, quantitative measures were utilized whereby a highly logical questionnaire was distributed to Maltese young consumers through the use of social media platforms including Facebook and LinkedIn as well as through the University of Malta Registrar email invitation. SPSS software was employed for data analysis. After analyzing the data, the researcher concluded that the most valued characteristics of luxury goods are Aesthetics and Quality whilst Rarity was valued the least. Moreover, it resulted that hedonic motivations influence the purchase of luxury fashion goods. Finally, the author concludes that there is correlation between the characteristics of luxury goods and the motivation Some limitations to the study include the fact that the author used a convenience sample and hence representation to the whole population might not be reliable. Moreover, respondents being part of low-income occupations only amounted to 2 responses. This might result in reliability issues. The author also excluded to test the level of materialism that respondents have Although the topic relating to the factors that influence luxury goods’ is well studied, there is lack of research in the Maltese young consumer market.