The Influencing Factors of Luxury Consumption Tendency of Chinese Consumers

Abstract

With the continuous improvement of China’s economy, China’s luxury consumption has increased rapidly in the past decade. China has become the world’s second largest consumer of luxury goods. Although there is still much room for the development of China’s luxury consumption market, market management and consumption behavior are still immature. In addition, some data show that the consumption growth of China’s luxury market has slowed down, and luxury brands are facing severe market tests, both opportunities and challenges. Therefore, it is of great practical significance to deeply study the purchase behavior of Chinese luxury goods. At present, most of the research on the purchase behavior of luxury consumers only stays on the appearance of consumption behavior, and there is little research on the motivation and purchase behavior tendency of Chinese consumers towards luxury brands. Therefore, from the perspective of consumers, this paper made an empirical analysis on the relationship between luxury brand motivation and purchase behavior tendency. Taking Chinese luxury consumers as the research object, over 340 questionnaires are handed out. With 135 effective responses, it was found that luxury consumption motivation and consumer purchase tendency are closely related.