Premiumisation in the Indian Luxury Watch Market Industry in Odisha

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Mihir Dash ◽  
Akshaya L.
Keyword(s):  
Luxury Brands ◽  
Indian Market ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Dummy Variable ◽  
Product Features ◽  
Price Range ◽  
Study Support ◽  
Functional Features ◽  
Value Add

The luxury goods segment in India has seen tremendous growth in recent years, with several international luxury brands entering the Indian market. Luxury goods are a niche market segment, wherein the consumers desire exclusivity and are willing to pay heavily for it. Thus, luxury brands are priced at a premium, to maintain their exclusivity. Obviously, the more unique and exclusive a luxury brand is, the higher its expected brand premium. The present study uses dummy variable regression to estimate the premia associated with luxury watch brands and product features. The results of the study indicate statistically significant brand premia, using which the brands can be grouped into distinct segments, and statistically significant product feature premia, including for gold-plated casing and titanium and ceramic straps, and for several special functional features such as world time and chronograph. The results of the study support the exclusivity hypothesis, that the exclusivity of luxury brands is the fundamental basis for luxury brand premium, through greater diversity of product variants in higher price range, using unique casing and strap materials and innovative functional features. This reflects the strategy of premiumisation of pricing of luxury watches, with greater emphasis on value-add features and complexity (total number of complications and moving parts).

Inconspicuous Luxury Consumption

2021 ◽  
pp. 65-85
Author(s):  
Aslı Tolunay Kuşçu
Keyword(s):  
Theoretical Framework ◽  
Value Proposition ◽  
Luxury Brands ◽  
Luxury Consumption ◽  
Luxury Goods ◽  
Economic Changes ◽  
Luxury Brand ◽  
Complex Development ◽  
Managerial Implications ◽  
Luxury Products

With luxury consumption still growing fast despite various challenges such as increasing competition, rise in rental luxuries, and in counterfeits, luxury brands are challenged with an additional and complex development: consumers' interest towards inconspicuous luxury products. Being one of the major characteristics of luxury goods, conspicuousness is losing its value among some luxury shoppers necessitating a new definition for luxury and a new value proposition for luxury brands. This chapter initially provides a review on luxury and on the different motivations that determine luxury consumption. Next, socio-economic changes that trigger the shift from conspicuous to inconspicuous luxury consumption is examined briefly. And finally, a discussion on why inconspicuous consumption is valued by consumers is followed by a theoretical framework on the motivations for inconspicuous luxury brand usage. The chapter then concludes with theoretical and managerial implications.

Perceptions And Attitudes Towards Luxury Brand Products

GIS Business ◽  
2019 ◽  
Vol 14 (5) ◽  
pp. 45-53
Author(s):  
R. SATHYADEVI ◽  
R. ASWINI
Keyword(s):  
Luxury Brands ◽  
Related Factors ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Perceptions And Attitudes ◽  
Actual Growth ◽  
Luxury Products ◽  
The Rich ◽  
Luxury Market ◽  
And Behavior

As consumers satisfy their feelings of pleasure and gratification through the luxury goods, the available luxury products will also continue to enhance its charm for consumers. The rich have no more a monopoly on the luxury goods. One of the most important factors leading to the actual growth of the luxury market is the introduction of luxury goods to the middle and upper-middle class. The present study attempted to analysis the knowledge, affection and behavior related discernment of the consumers on the luxury products.  For obtaining the objectives, the study adopted questionnaire to collect the data from the customers. The study collected data from the customer, who visiting the shopping malls for buying the luxury brand products. T  Test used to present the collected opinion of the consumers.  The study highlighted that most of consumers are depend with affect related factors to luxury brands compared with knowledge and behavior based factors.

Pre-loved luxury: identifying the meanings of second-hand luxury possessions

2015 ◽  
Vol 24 (1) ◽  
pp. 57-65 ◽  
Author(s):  
Linda Lisa Maria Turunen ◽  
Hanna Leipämaa-Leskinen
Keyword(s):  
Luxury Brands ◽  
Luxury Consumption ◽  
Luxury Goods ◽  
Content Type ◽  
Luxury Brand ◽  
Reputational Risk ◽  
Brand Marketing ◽  
Managerial Implications ◽  
Symbolic Value ◽  
Risk Investment

Purpose – The purpose of this study is to shed light on the consumption of second-hand luxury brands, identifying the meanings attached to second-hand luxury possessions in the context of fashion and, specifically, in the case of luxury accessories. Prior discussions of luxury consumption and marketing have focused on brand-new luxury goods, thus largely neglecting the emergence of markets for used luxury products. Design/methodology/approach – The empirical data for this study were generated through interviews with ten Finnish women and through fashion blogs concerning luxury goods that are bought second-hand. Findings – The findings show that second-hand luxury possessions are characterized by five different meaning themes: Sustainable Choice, Real Deal, Pre-loved Treasure, Risk Investment and Unique Find. The study highlights how consumers are able to achieve luxury experiences even without exclusive service, as the informants attached meanings of luxury to second-hand luxury possessions, especially with regard to the symbolic value and authenticity of the product. However, the meaning of authenticity appears to be a double-edged sword in this context, as consumers may also consider that they are taking a financial as well as reputational risk when acquiring a previously owned luxury item. Originality/value – This study brings forward novel viewpoints to discussions on luxury brand marketing by connecting the issue with the topical phenomenon of second-hand and luxury consumption. The study suggests important managerial implications for luxury brand marketers.

The Impact of Lifestyle and Attitude Functions on Luxury Goods on Emotional Attachment Towards Luxury Brands

2017 ◽  
Vol 7 (2) ◽  
pp. 21-40
Author(s):  
Mohammad Kashani ◽  
Alireza Aslani ◽  
Mohammad R. Esfidani ◽  
Seyed Reza Seyed Javadin
Keyword(s):  
Social Status ◽  
Age Groups ◽  
Emotional Attachment ◽  
Luxury Brands ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Luxury Products ◽  
The Impact ◽  
The Relationship

The purpose of this article is to investigate the effect of individuals' life on the consumers' emotional attachment to the luxury products. The mediation role of individuals' attitudes has been investigated for the relationship between lifestyle and emotional attachment. First, the respondents have been divided into four categories that relate to their lifestyle - concerning their income and desire for social status. Then, the authors deal with the investigation of lifestyle effect on the emotional attachment to the luxury products. The attitude of different age groups has been investigated by the mediation role of the lifestyle and emotional attachment. Finally, elements have been investigated including the accurate recognition of brand by the aristocratic class, communicative and non-communicative motives in different lifestyles, and the relation between price and brand prominence. The findings show that the individual's lifestyle influences on the emotional attachment to the luxury products, as well as the existing attitudes in different age groups mediate the relation between lifestyle and emotional attachment to the luxury brand. The aristocratic class accurately recognise the signs of luxury brands. Also, the motives of communicative and non-communicative individuals are expressed in a variety of styles. Finally, a connection between price and brand prominence is discussed.

Exploring the impact of religiousness and cultureon luxury fashion goodspurchasing intention

2019 ◽  
Vol 10 (3) ◽  
pp. 768-789 ◽  
Author(s):  
Hasan Aksoy ◽  
Olaide Yusuf Abdulfatai
Keyword(s):  
Religious Beliefs ◽  
Cultural Orientation ◽  
Subjective Norms ◽  
Luxury Brands ◽  
Luxury Goods ◽  
Content Type ◽  
Luxury Brand ◽  
Intention To Purchase ◽  
Purchasing Intention ◽  
The Impact

Purpose The purpose of the paper is to investigate the effect of religiosity and culture on Nigerian Muslim consumer’s intention to purchase luxury goods. Design/methodology/approach The survey included a sample of 372 Nigerian Muslims from the middle and upper-income groups who live in Lagos and Kano in Nigeria. Findings Plenty of luxury brands are seeking to find ways to overgrow in emerging markets. Focussing on Nigeria, this study identifies Nigerian people’s cultural orientation, religious beliefs and examines the social and personal variables affecting the consumers’ purchasing intention for luxury goods. This study stresses that Nigerian consumers’ intention to purchase luxury products are impacted by attitude, subjective norms and culture. However, Nigerian people’s intention to purchase luxury goods is not influenced by religious beliefs and Islam morals. While culture has a significant relationship with both attitudes towards behaviour and subjective norms, the religious beliefs encourage both subjective norms and a positive attitude towards the behaviour. Research limitations/implications This study has limitations in connection with two of its major objectives. The study applied the perspective of Nigerian Muslims. Thus, the research will not be able to clarify the fact that beyond this limited geographical area. Future research may widen the focus on cultural and religious beliefs on the intention to purchase luxury goods by adding other elements, such as normative beliefs and attitudinal beliefs. Practical implications The findings of the research define some implications for marketers with regard to the importance of social norms and religion in point of increasing the purchasing intention for luxury goods. Findings reflect that Nigerian consumers are impacted by subjective norms and cultural orientation. This means that luxury consuming is seen to achieve social recognition in the society. These results show that improving social acceptance through luxury goods consumption may create profitable outcomes for luxury brand firms. Originality/value The attractive findings of the study proposed that luxury brand managers should balance their investment in terms of the use of word-of-mouth, reference groups and fashion magazines to develop a favourable attitude towards luxury brands through. Although cultural values, references groups and consumer’s beliefs critically matter for luxury consuming, religious beliefs of Nigerian consumers have no effect on consumer’ purchase intention for a luxury product.

Key Factors of Emerging Luxury Brand Construction: Empirical Case Study of Korloff

2016 ◽  
Vol 20 (4) ◽  
pp. 607-614
Author(s):  
Zhiqing Jiang ◽  
◽  
Shin’ya Nagasawa
Keyword(s):  
Quantitative Research ◽  
Structured Interview ◽  
Brand Strategy ◽  
Luxury Brands ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Positive Effects ◽  
Brand Construction ◽  
Goods Market ◽  
Brand Attributes

The luxury goods market has been expanding worldwide since the early 1990s. In the marketplace, there are new entrants (emerging luxury brands) reputed to be leading luxury brands, especially designer brands, which neither provide new luxury like Coach, nor are similar to traditional luxury brands, such as Louis Vuitton. In this research, an emerging luxury brand also refers to a brand that provides luxury goods in or above the intermediate level of the luxury goods products hierarchy and was established in or after the 1970s. The purpose of this paper is to propose a conceptual framework for emerging luxury brand construction. It (1) defines luxury and emerging luxury brand, (2) reviews the theoretical basis of luxury goods and the brand strategy of luxury goods, (3) frames the nexus between luxury brand attributes and brand image, (4) conducts consumer survey and data mining, and (5) discusses and concludes the research. This research includes qualitative research (a semi-structured interview) and quantitative research (exploratory factor analysis and regression analysis). The results show that the location and atmosphere of luxury stores, E-commerce, online ads and newsletters, origin, iconic products, symbols, and PR events have positive effects on consumers’ impression of emerging luxury brands.

Recommercing Luxury Goods

2020 ◽  
pp. 117-141
Author(s):  
Floriana Iannone
Keyword(s):  
Luxury Brands ◽  
Luxury Goods ◽  
Luxury Brand ◽  
Collaborative Strategies ◽  
Brand Choices

The aim of the work is to show that, in the luxury segment, retail operators are called to greater challenges imposed by the expansion of new competitive pressures especially driven by the dynamics of the demand trends increasingly oriented towards sustainability. The work provides a picture of the omnichannel strategies and of the practices adopted by the most important re-commerce players worldwide currently influencing the luxury brand choices in reassessing the opportunity offered by the re-commerce of the so-called ‘gently-used' personal goods. The ultimate goal is to underline the need for new collaborative strategies for luxury brands in order to better organize the retailing activities in an omnichannel perspective, especially considering the opportunities opened by the theme of sustainability.

How Consumers’ Political Ideology and Status-Maintenance Goals Interact to Shape Their Desire for Luxury Goods

2018 ◽  
Vol 82 (6) ◽  
pp. 132-149 ◽  
Author(s):  
Jeehye Christine Kim ◽  
Brian Park ◽  
David Dubois
Keyword(s):  
Semantic Priming ◽  
Political Ideology ◽  
Social Stability ◽  
Sociodemographic Characteristics ◽  
Luxury Brands ◽  
Luxury Consumption ◽  
Luxury Goods ◽  
Conservative Ideology ◽  
The Status ◽  
Maintenance Goals

This research distinguishes between the goal of maintaining status and advancing status and investigates how consumers’ political ideology triggers sensitivity to a status-maintenance (vs. status-advancement) goal, subsequently altering luxury consumption. Because conservative political ideology increases the preference for social stability, the authors propose that conservatives (vs. liberals) are more sensitive to status maintenance (but not status advancement) and thus exhibit a greater desire for luxury goods when the status-maintenance goal is activated. Six studies assessing status maintenance using sociodemographic characteristics (Studies 1, 2, and 3a) and controlled manipulations, including ad framing (Study 3b) and semantic priming (Studies 4 and 5), provide support for this proposition. The studies show that the effect is specific to status maintenance and does not occur (1) in the absence of a status goal or (2) when the status-advancement goal (a focus on increasing status) is activated. Overall, the findings reveal that conservatives’ desire for luxury goods stems from the goal of maintaining status and offer insights into how luxury brands can effectively tailor their communications to audiences with a conservative ideology.

Luxury brand desirability and fashion equity: The joint moderating effect on consumers’ commitment toward luxury brands

2018 ◽  
Vol 35 (12) ◽  
pp. 902-912 ◽  
Author(s):  
Mélanie Pham ◽  
Pierre Valette-Florence ◽  
Franck Vigneron
Keyword(s):  
Moderating Effect ◽  
Luxury Brands ◽  
Luxury Brand

Slogans With Negations’ Effect on Sustainable Luxury Brand

2021 ◽  
pp. 183933492110466
Author(s):  
Felix Septianto ◽  
Joya Kemper ◽  
Gavin Northey
Keyword(s):  
Cognitive Flexibility ◽  
Communication Strategies ◽  
Experimental Studies ◽  
Effective Communication ◽  
Brand Attitudes ◽  
Luxury Brands ◽  
Consumer Responses ◽  
Luxury Brand ◽  
The Impact

The integration of sustainability within luxury brands is of increasing concern to practitioners and academics alike. Thus, it is important to consider how brands can develop effective communication strategies to promote sustainable luxury brands, particularly among an increasingly skeptical consumer base. This research thus investigates the impact of advertising slogans with negations (vs. affirmations) in this regard. Three experimental studies show that advertising slogans with negations (vs. affirmations) increase brand trustworthiness (Studies 1 and 3) and favorable brand attitudes (Studies 1 and 2) among consumers with high levels of skepticism. Notably, this effect is driven by an increased cognitive flexibility (Study 3). The findings of this research can assist sustainable luxury brand managers in developing effective communication strategies to increase favorable consumer responses to sustainable luxury brands.

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