How sustainable luxury influences product value perceptions and behavioral intentions: a comparative study of emerging vs. developed markets

Abstract

Coinciding with the rising development of emerging markets, sustainable consumption practices in these markets are increasingly in focus. In this context, we compare empirical results from consumers on four continents (three emerging markets and one developed market) in an experimental study to uncover patterns of preferences for sustainable luxury products (i.e., products that combine sustainability and luxury characteristics). Our findings illustrate that consumers’ quality, emotional, price, and social value perceptions, as well as purchase and electronic word-of-mouth intentions, are consistently higher in all three emerging markets compared to the developed market. We find that sustainability (vs. conventional) product features increase consumers’ product value perceptions and behavioral intentions, although this effect is partially stronger for the developed compared to the emerging market(s). We further show a positive sustainability effect for luxury products, this effect is stronger for mass-market products. Combining sustainability and luxury signals leads to similar effects in emerging and developed markets. Thus, emerging markets have a promising scope for incorporating sustainability characteristics into luxury products. Sustainable luxury consumption can therefore be understood as a manifestation of global consumer culture.

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ORCID for Hongfei Liu: orcid.org/0000-0001-8539-9054

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