• Title/Summary/Keyword: Luxury goods

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Luxury Brand Consumption Values and Signal Preference Based on Cultural and Economic capital (문화자본 및 경제자본에 따른 럭셔리 브랜드 소비가치와 브랜드 시그널 선호도)

  • Lee, Minhee;Lee, Yuri;Ahn, Minyoung
    • Journal of the Korean Society of Costume
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    • v.64 no.4
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    • pp.91-105
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    • 2014
  • As luxury goods market has expanded and has become more affordable, luxury consumption value has become more diversified. The purpose of this study is to classify visible characteristics of luxury consumption by the degree of logo clarity, and to explain this classification in relation to personal luxury consumption values. Also, the study utilized the concept of cultural capital, in addition to the concept of economic capital, in order to aid understanding of current new luxury consumption trend and give directions on brand signal strategies for luxury brands. In order to develop a survey that could measure an individual's cultural capital, focus group interviews, each composed of 5 women in their twenties and thirties, were conducted. Then, the survey was conducted on 230 females residing in Seoul who have purchased at least one product from a luxury brand within a year. The results suggest that luxury consumption can be explained by 'self-oriented value' and 'others-oriented value' as suggested in precedent studies. However, no significant difference was found between economic capital and these two luxury consumption values. However, the more cultural capital one possesses, the more one is likely to pursue 'self-oriented consumption value'. In studying the correlation between luxury consumption values and preference for brand signal clarity, respondents with 'self-oriented consumption value' has shown low preference towards highly visible brand logo when design and quality were equivalent. Also, respondents with 'other-oriented consumption value' has shown high preference towards highly visible brand logo.

Impact of Social Exclusion Type and Presence of Others on On-going Purchase Intention When Purchasing Fashion Luxury Goods -Moderating Effect of Self-efficacy- (패션 명품 구매에 있어 사회적 배제 유형과 타인의 존재가 구매진행의도에 미치는 영향 -자기효능감의 조절효과-)

  • Park, Hyun Hee;Jeon, Jung Ok
    • Journal of the Korean Society of Clothing and Textiles
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    • v.44 no.5
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    • pp.878-892
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    • 2020
  • This study investigates the influence of social exclusion type and presence of others on consumers' on-going purchase intention when purchasing fashion luxury goods. This study also identifies the moderating role of self-efficacy in which the interaction effect of social exclusion type and presence of others on on-going purchase intention. For the experiment, 2(social exclusion type: being ignored vs being rejected)×2(presence of others: presence vs absence)×2(self-efficacy: high vs low) factorial design was used. The findings of this study are summarized as follows. First, the result showed that there was no difference in on-going purchase intention according to social exclusion type. Second, the result showed that there was a significant interaction effect between social exclusion type and presence of others. Third, the three-way interaction effect of social exclusion type, presence of others, and self-efficacy was statistically significant. The results of this study provide useful information on which direction is needed to mitigate negative consumer behavior caused by social exclusion at the service interface.

Analysis of Marketing Strategy in Domestic Online Luxury Fashion Platform (국내 온라인 명품 패션 플랫폼 마케팅전략 분석)

  • Min Gyung Lee;Hyeon Ju Kim
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.1
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    • pp.361-372
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    • 2023
  • In this study, three luxury fashion start-up platforms, Balaan, Trenbe, and Must-it, were selected as research subjects. The purpose of this study is to compare and analyze the marketing mix strategies of each of the three online sites. The results of our study are as follows. First of all, the product strategies of the three luxury platform companies are characterized by the composition of products from high-end brands to SPA brands, and product composition such as kids, home living, Used goods and art in addition to women's and men's wear. In addition, the pricing strategies of luxury platforms show price differences depending on the luxury platform even for the same product. It is shown as a structure that directly determines margin. Therefore, in order to secure an edge in price competitiveness, each platform provided discount coupons and savings that are not available in offline stores such as department stores, providing opportunities to purchase luxury goods at a lower price than offline stores.Lastly, the sales promotion strategies of the three luxury platform companies was used include price discount promotions such as price discounts, discount coupons, and regular sales, and value-added sales such as membership registration/review points, events, product information, delivery services, social contribution activities, and SNS utilization.

A Study on Bobos Style and Buying Behavior of Fashion Goods (보보스 스타일과 패션제품 구매행동)

  • 이유경
    • Journal of the Korea Fashion and Costume Design Association
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    • v.3 no.2
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    • pp.23-34
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    • 2001
  • This study aimed to investigate the Bobos style which represents new upper class in the information age and has influence on fashion world, and present the marketing strategy for that. As a result, Bobos' buying behavior of fashion goods and marketing strategy for that were as follows. The first, Bobos fashion style and their characteristics of buying behavior were 1. the pursuit of luxury and high quality 2. the pursuit of blending taste and of the traditional bourgeois and the bohemians 3. the pursuit of utility and practical thing 4. the pursuit of self expression and sense 5. the pursuit of natural and antique taste 6. pursuit of cultural and artistic aspect. The second, marketing strategy for Bobos' buying behavior of fashion goods were as follows. 1. Blending of the traditional prestige and freedom should be reflected on fashion goods. 2. The utility and natural style of fashion goods are needed. 3. The non-conspicous self expression and artisticㆍcultural taste should be reflected on fashion goods.

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Conspicuous Consumption of Leisure Apparel according to Social Stratum Variables and Leisure Activities (사회계층 변인과 여가활동에 따른 과시적 여가의복소비)

  • Park, Eun-Hee
    • Journal of the Korea Fashion and Costume Design Association
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    • v.19 no.2
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    • pp.101-115
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    • 2017
  • This study classified social stratum variables of adults in their 20s to 50s by subjective and objective measurements and classified leisure activities into groups to examine the conspicuous consumption of leisure apparel. A total of 365 adults in their 20s to 50s living in Daegu and the Kyungbuk area were selected considering their jobs and residences. SPSS PC+ 20.0 was used to analyze the data with frequency analysis, factor analysis, reliability examination, cluster analysis, ANOVA, Duncan-test, Scheffe-test, and ${\chi}^2-test$. The results of this study are shown as follows. First, 'Jogging/Walking' was found to be the most favorable activity in the examination of leisure sports activities among the participants and showed a difference in gender. Second, leisure activities were pastime-culture activity, sports activities, static activity, volunteering, and relaxing, and these activities were grouped into non-participant, active and passive leisure activities. Conspicuous consumption of leisure apparel was classified into personality oriented, luxury goods-oriented, and other people-oriented. Third, there was a significant difference in the sub-factors of the conspicuous consumption of leisure apparel (personality oriented, luxury goods-oriented, other people-oriented) according to the sub-factors of subjective stratum(economic power, social position, level of consumption, cultural level and overall stratum consciousness). Fourth, there was significance in the objective social stratum variable by the types of leisure activities. Significant differences were found in personality orientation, luxury goods-oriented, and other people-oriented in conspicuous consumption of leisure apparel by the types of leisure activities. Finally, there were significant differences in economic power, level of consumption, cultural level of subjective social stratum by gender, sports activities and volunteering in leisure activities, as well as other people-oriented conspicuous consumption of leisure apparel. This study also found significant differences in economic power, level of consumption and cultural level of social stratum by age, as well as other people-oriented conspicuous consumption of leisure apparel.

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Impact on self-satisfaction of shopping tendencies and purchasing behaviors for luxury goods (명품쇼핑성향과 구매행동이 자기만족도에 미치는 영향)

  • Lee, Jeong-Min;Park, Sook-Hyun;Lee, Kyung-Lim
    • The Research Journal of the Costume Culture
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    • v.25 no.1
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    • pp.16-31
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    • 2017
  • This paper aims to identify the impact on self-satisfaction of shopping tendencies and purchase behaviors for luxury goods. The research was conducted by survey method using questionnaires. The subjects of this study were female consumers from 20 to years old with a high purchasing capability for luxury goods. Using the statistics program SPSS 21.0, factor analysis, reliability analysis, one-way ANOVA, and multiple-regression analysis were executed. The analysis results are summarized below. For shopping tendency depending on ages, pleasure pursuit tendency showed insignificant difference in 40~50s, but significant difference in 20~30s. For the self-satisfaction, the interpersonal satisfaction showed the difference by age group, which was much higher in the respondents in 30~50s than those in 20s. Individuality pursuit tendency and rational shopping tendency had impact on self-satisfaction and rational shopping tendency on interpersonal satisfaction in 20s. Pleasure pursuit tendency and rational shopping tendency had impact on self-satisfaction and interpersonal satisfaction and pleasure pursuit tendency on the economic satisfaction in 30s. Pleasure pursuit tendency had impact on self-satisfaction and economic satisfaction and rational satisfaction on interpersonal satisfaction in 40s. Pleasure pursuit tendency and rational shopping tendency had impact on self-satisfaction and interpersonal satisfaction in 50s. High quality had impact on self-satisfaction and economic satisfaction and practicality on interpersonal satisfaction in 20s. High quality had impact on self-satisfaction and interpersonal satisfaction in 30s. High quality had impact on interpersonal satisfaction in 40s. High quality had impact on all elements of self-satisfaction for the respondents in 50s, practicality had negative impact on interpersonal satisfaction.

An Analysis of Purchase Behaviors of Department Store Users based on Types of Preference for Luxury Brands (백화점 이용고객의 명품브랜드 선호도 유형에 따른 구매행태 분석)

  • Sun, Zhong-Yuan;Na, Seung-Hwa
    • Journal of Distribution Science
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    • v.11 no.10
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    • pp.5-15
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    • 2013
  • Purpose - With the increase in fervor to purchase luxury brands, new social problems have arisen, such as excessive preoccupation with luxury brands and high preference for forged luxury goods. Therefore, the issues related to luxury brands, termed "Luxury Syndrome," have emerged as an area of great interest for researchers and practitioners. However, previous studies neglect to categorize this preference for luxury brands. Therefore, this study aims to identify the different purchasing behaviors of consumers using the types of luxury brands preferences as parameters. Research design, data, and methodology - This study arranges a causal relationship model assuming that purchase behaviors positively (+) affect typified preference for luxury brands and purchase intentions. We administered a questionnaire survey to the purchasers who bought luxury brands from department stores to secure additional data necessary to verify the hypotheses in this study. We then processed the data using SPSS 19.0. We further analyzed the basic data using frequency and descriptive statistical analysis, and verified the measurement tools through feasibility and reliability analyses. Moreover, this study uses multiple regression analysis to verify the hypotheses. Further, this study tests the path effect between luxury brand purchase attitude and purchase behavior, with non-intrinsic preference and intrinsic preference as the mediating variables. Results - Based on the results, the impact of tendencies of conspicuous consumption and self-monitoring on non-intrinsic preference was significantly positive (+), while the impact of tendencies of pursuit of a reference group, conspicuous consumption, and self-monitoring on intrinsic preference and purchase intentions was significantly positive (+). Further, non-intrinsic and intrinsic preferences positively (+) influence purchase intentions and the impact of non-intrinsic preference took an absolute portion. However, the tendency of dependence on brands negatively (-) impacts purchase intentions. The results showed that self-monitoring and conspicuous consumption tendencies have greater effect on purchase intention, which is mediated by non-intrinsic preference. In contrast, reference group following tendency has a greater effect on purchase intention, which is mediated by intrinsic preference. Conclusions - Based on the results, the study verifies that the consumption of luxury brands in Korea has not yet entered the settling period. The tendency for conspicuous consumption and the tendency for pursuit of the reference group were relatively important aspects for the consumers who prefer luxury brands non-intrinsically and intrinsically, respectively. Especially, it was found that the purchase intentions for forged brands originate from the tendency to depend on brands. Based on these findings, this study suggests the measures to develop and mature the luxury brands market, and reinforce marketing performance at the three levels, that is, government, distributors, and manufacturers. The luxury brands manufacturers should devote themselves to the production and design of products to catch the attention of mature consumers of luxury brands. The luxury brands distributors should then raise the level of Customer Relationship Management (CRM) for opinion leaders. Finally, the Government should prepare effective policies for the development of luxury brands and provide a variety of economic support.

A Qualitative Study on the Purchase Behavior for the Counterfeit of Fashion Luxury Brands (패션 명품(名品) 복제품(複製品)의 구매행동(購買行動)에 관(關)한 질적(質的) 연구(硏究))

  • Kim, Il
    • Journal of Fashion Business
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    • v.8 no.5
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    • pp.41-59
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    • 2004
  • The purpose of this study is to analyze consumers' purchase behavior for the counterfeits of fashion luxury brands. The research method of the study used a naturalistic approach. The first participant observation was carried out in the internet sites in order to collect the data on the purchase behavior for counterfeits; and the second participant observation was applied in the Dongdaemun shopping mall, Namdaemun shopping mall and Itaewon shopping mall; finally 6 informants were selected and then an interview was held with them. The results of the study are as follows; 1. The reasons for the first purchase of counterfeits are variously shown according to life stages, and the repetitive purchase behavior is influenced by the degree of satisfaction for the first purchase. The information collection for counterfeits is widely made through various media, and especially the information collection is active and positive in the case of planned purchase but it is passive and negative in the case of unplanned purchase. 2. The most important criteria in purchasing counterfeits is the degree of similarity with luxury brands and other criteria include price, design, utility etc. The majority of purchase items is not clothing but miscellaneous goods which are more similar in terms of design and quality. The purchase of counterfeits is made by impulse purchase but the purchase of luxury brands is made by planned purchase. 3. The rationalization mechanism for the purchase of counterfeits is observed in all informants, which is a sort of defence mechanism for avoiding a guilty conscience to buy illegal goods.

A Study on Luxury Prohibition of Korean Personal Ornaments (한국장신구의 사치 금제 고찰)

  • 추원교
    • Archives of design research
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    • v.2 no.1
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    • pp.43-62
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    • 1989
  • The luxury is the expression of human being's ornament instinct. In this study, in order to grasp the moulding system of the Korean's personal ornaments, the process of luxury prohibition was reviewed to search for to which direction the ornaments developed in the frame of the prohibited style connected closely to the character of the personal ornaments. The proiod was fixed from the old society to the late Chosun dynasty era. The beginning of the luxury in Korea seems to be the start of the luxury burial at the time of funeral in the age of Koguryo., In the era of Koguryo, 10th year of King Dongmyung (B. C. 28), in the era of Baekje, 27th year of King Koi(260), the prohibition of dress regulation and the style of dress were conducted. The prohibition of personal ornaments in Silla was started from King Bup:Heung, and in the 9th year of King Heung-Duk, the prohibition was conducted in order to correct the luxury of the nobles and set up the social discipline. In the 11 th of King Il-Sung-Ni-Sa-Kum, the use of gold, silver and jade was prohibited in the civilian circles. The prohibition of Silla was succeeded to Koryo era, and in the 7th year of King Kwangjong(956), the system of Baekgwan Gongbok(uniform for government officials) was set up, and the system of Sasek Gongbok(four color official uniform) was set up in the 11 th year of the same King, and the prohibition of the personal ornaments such as crown and band is considred to have been conducted. The prohibition of gold and silver was conducted in the first year of King Sungjong(982), and in the 4th year of King Chungryul(l260), the order of wearing the dress and hat in accordance with the Yusan dynasty and the Mongolian customs were widely circulated in the royal court and vivilian circles. The strong influence of Mongolia made the taste of the traditional personal ornaments laste. The personal ornaments were used for the nobles until the age of the Unified Sillar but even the common people could use them in case they were rich, and such a circumstances made the use of foreign goods inflated. The prohibition of Koryo era was aimed at the prohibition of the foreign goods of luxury, and the classification of the social status.In the age of Chosun Dynasty, the production of gold and silver was feeble indeed but the oute reason of the prohibition was to eradicate the luxurious tendency, elevate the custom of eradicate the luxurious tendency, elevate the custom of thrift, and moreover, the gold, silver and jade were no the products of Korea and the prohibition was conducted but the true reason was afor the tribute tt China and the classification of status. The prohibition of Chosun dynasty was conducted first in the June of the 3rd year of King Taejo The major contents of prohibition was no use of gold, silver and jade, coral, agate, amber, etc. of th, wives of the Dang-Sang-Kwan (Court Nobleman) or their sons and daughters, and the same pheno menon was common even at the time of marriage. The people engaged in the secret trade there of wert beheaded. The personal ornaments in the prohibition were the pendent trinket, Binyo (crossbar) ceremonial ornamental hat, ring, earring, ornamental knife, hat string, hat ornament, belt, etc. Thl luxurious marriage expenses out of the luxury was severe, and lose of the marriageable age because 0 non-preparing the marriage goods was the national evil. The prohibition oC luxury was hard to bt kept to the nobles or rich people, the same as old days and present days. The prohibition of th{ luxury and personal ornaments of Korea had nothing to do with the commons, and it was limited tc the nobles and rich people. The prohibition was aimed to cultivating the custom of frugality by eradicating the luxurious atmosphere, but it was chiefly due to the tribute to the China and tht discrimination of the. status. We can say that the recent personal ornament was the flower of handi craft industry bloomed in the prohibition and regulation.

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