Evaluation And Development Of A Conceptual Model For Investigating Chinese Consumer's Perspectives Of Luxury Value
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Abstract
The researchers' goal in doing this study was to provide a theoretical framework that, based on focus group results and reviews of relevant literature, would explain to Chinese buyers how much luxury items are worth. A focus group discussion was conducted to get insight into the thought processes of Chinese consumers while evaluating the value of high-end products. Findings To better understand how Chinese consumers perceive and buy luxury items, this research integrates several perspectives into a multidimensional model. It provides a complete picture of how the Chinese consumer sees themselves and their community in luxury products. Researchers should be aware that their sample size was rather limited (just three sites), therefore their findings may not be representative of all Chinese clients. Due to the small sample size of this quantitative investigation, a measuring instrument based on the proposed conceptual model is required. For the theoretical model to be useful in future empirical studies, researchers would also want to test it further. Originality In addition to adding to the little literature on the topic of luxury in the Chinese market, our study has shed light on how the perceived value of luxury influences the buying behaviours and habits of Chinese customers. Additionally, it has provided theoretical insight into the phenomenon of luxury consumption. It might provide valuable insight into the Chinese luxury goods industry's marketing strategies.