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Impact of value perceptions on luxury purchase intentions: a developed market comparison

Impact of value perceptions on luxury purchase intentions: a developed market comparison
Impact of value perceptions on luxury purchase intentions: a developed market comparison
Consumers derive subjective worth of any product of service based on their value perceptions. This study measures the impact of value perceptions on luxury consumption purchase intentions focusing on two of the largest luxury markets holding significant referent influence on consumers worldwide - namely the UK and the USA. Cross-sectional, survey-based methodology and structural equation modelling was employed to collect and analyse the data. The findings suggest that while functional value perceptions drive luxury consumption purchase intentions across both nations, social value has a significant contribution only among US consumers and personal value perceptions only in the UK. The results provide managers opportunities for strategic differentiation and brand positioning of their luxury brand in a cross-national context. The findings demonstrate that while the USA and the UK remain fairly similar on most macro cultural traits, consumer value perceptions differ significantly. Hence, a cautionary approach is advised in making generalised assumptions using national-level cultural indicators at consumer-level decision making.
2041-3831
40-57
Chattalas, Michael
0176e1a4-5c04-4fed-af9d-fea44bdbc6b6
Shukla, Paurav
d3acd968-350b-40cf-890b-12c2e7aaa49d
Chattalas, Michael
0176e1a4-5c04-4fed-af9d-fea44bdbc6b6
Shukla, Paurav
d3acd968-350b-40cf-890b-12c2e7aaa49d

Chattalas, Michael and Shukla, Paurav (2015) Impact of value perceptions on luxury purchase intentions: a developed market comparison. Luxury Research Journal, 1 (1), 40-57. (doi:10.1504/LRJ.2015.069806).

Record type: Article

Abstract

Consumers derive subjective worth of any product of service based on their value perceptions. This study measures the impact of value perceptions on luxury consumption purchase intentions focusing on two of the largest luxury markets holding significant referent influence on consumers worldwide - namely the UK and the USA. Cross-sectional, survey-based methodology and structural equation modelling was employed to collect and analyse the data. The findings suggest that while functional value perceptions drive luxury consumption purchase intentions across both nations, social value has a significant contribution only among US consumers and personal value perceptions only in the UK. The results provide managers opportunities for strategic differentiation and brand positioning of their luxury brand in a cross-national context. The findings demonstrate that while the USA and the UK remain fairly similar on most macro cultural traits, consumer value perceptions differ significantly. Hence, a cautionary approach is advised in making generalised assumptions using national-level cultural indicators at consumer-level decision making.

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Published date: 1 January 2015

Identifiers

Local EPrints ID: 429431
URI: http://eprints.soton.ac.uk/id/eprint/429431
ISSN: 2041-3831
PURE UUID: f7b0c6fc-4de6-45c6-b5fc-955c482e020a
ORCID for Paurav Shukla: ORCID iD orcid.org/0000-0003-1957-8622

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Date deposited: 27 Mar 2019 17:30
Last modified: 17 Jan 2020 17:34

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Contributors

Author: Michael Chattalas
Author: Paurav Shukla ORCID iD

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