Determining Consumer Purchase Intention Toward Counterfeit Luxury Goods Based on the Perceived Risk Theory

This study aims to understand the impact of financial, psychological, and social risk dimensions on attitude and intention to purchase counterfeit luxury goods. Data were collected through a questionnaire conducted with 116 Angolan consumers and were treated with structural equation modeling. The results revealed that only financial risk and social risk were influential in attitude toward counterfeit luxury goods. Attitude had a significant influence on the intention to purchase counterfeit luxury goods. The research contributes to the literature because there has been no previous study in an African country that seeks to understand the purchase intention of counterfeit luxury goods according to risk perception theory. On the other hand, this study is one of the few to report that social risk perception positively impacts attitudes towards counterfeit luxury goods.

A NOVA CULTURA DE CONSUMO: UMA ANÁLISE ECONÔMICA DA INFLUÊNCIA

O presente trabalho foca na questão da nova cultura de consumo alavancada pela geração milenial e pela geração Z. A visão contemporânea do consumidor vê o indivíduo pertencente às novas teias sociais, certificando o grande papel da influência digital na busca pela promoção do status e da aceitação social. Isso promove no comportamento do consumidor, o esforço de maximizar as ações do grupo, minimizando o utilitarismo econômico. Dessa forma, num cenário de exploração de informação, o consumidor sofre três tipos de tendências: Bandwagon effect, Veblen effect e o Herd effect . Esses efeitos são parte da nova teoria do consumidor chamada de behavior comsumption. Como metodologia utilizou-se uma análise exploratória e bibliográfica tendo por base os dados do IBGE e do Relatório Internacional Delloitte – Global Powers of luxury goods, 2021. Como resultados e discussões observou-se que o fenômeno do consumo de status está cada vez mais presente, visto a presença de marcas VIPs suscitando uma grande circulação de renda.

Specific Features of Luxury Products Branding

In this modern world characterized by rapid change, the role of marketing is increasingly important. Developing a brand is one way in which a competitive advantage can be achieved. The work defines the concept of luxury through the prism of marketing, shows the specifics of marketing in the luxury products market and the key factors that influence the demand for luxury products. The paper found that the key to success is to effectively create a market strategy whose main goal is to create a strong and emotional long-term relationship between the brand and the consumer. Also, the new trend of "abundant rarity" has led companies in the luxury goods sector to strive to strike an optimal balance between exclusivity and affordability.

On measures to prevent theft of cell phones

Despite the fact that in recent years a number of committed crimes in Russia has decreased in general due to the taken measures, crimes against property are still prevalent within the overall structures of crime and considered a major problem. Theft of cell phones has a special place in this structure. It is worth noting that although the cell phones have acquired many additional functions, in recent years they are no longer the luxury goods and are in the category of everyday things that are now necessary (and available) for almost all classes of citizens. An analysis of the market for cell phone sales in Russia shows that over the last years the number of cell phones has increased significantly, while in large Russian cities their number equaled the number of residents (which means 100 phones per 100 inhabitants). The author, on the basis of statistics, points out a clear trend of continued growth in sales of smartphones, as well as an expansion of the market for expensive devices. Based on data on crime situation generally the article further shows that theft make up more than half of all crimes committed. This number, of course, includes theft of cell phones, but due to the lack of data on this specific type of theft, it is difficult to determine where they stand in the overall picture. The author provides a classification of this type of crime according to the place and the ways these crimes are committed, illustrating them with the materials of particular criminal cases, and gives practical recommendations to mobile phone users that will reduce the risk of smartphone theft. Having studied the domestic and foreign (UK, USA) experience in the field of combating such crimes, the author examines a number of measures aimed at preventing cell phone theft. The author believes that the solution to these problems in particular may be the adoption of a law on the state database of mobile phones, as has already been done in some foreign countries.

High-end luxury wine demand and income inequality

Purpose The purpose of this study is to explore the relationship between income inequality and the demand for high-end luxury wine. The consumption of luxury goods has experienced dramatic growth since 2000 but inequality has been neglected by scholars working on luxury consumption. The exploratory research focuses on wine demand between 2000 and 2019 and analyzes the impact of income inequality among other factors, including gross domestic product (GDP) per capita and GDP growth. The authors want to discern whether highly unequal countries import more expensive wine when compared to countries with lower inequality. Design/methodology/approach The authors prepared different data sets based on the year and the trade value of each country to compare the differences and commonalities. The regression models incorporate particular foreign trade statistics (average unit price of wine) as an objective variable and the Gini coefficients to measure the relation between the demand for high-end luxury wines and inequality as an explanatory variable. The models also incorporate other control variables such as economic and institutional conditions. Findings The analysis demonstrates a positive relationship between the unit price of imported wine and the level of income inequality of the importers. This research suggests that conspicuous consumption, as a means of social distinction, is a major driver of the luxury wine market. Other significant factors include GDP per capita and geographic proximity. However, countries with a high power distance and bad governance do not purchase more luxury wines than others. Hence, rather than the social acceptation of wealth and corruption, the consumption of luxury wines is driven by the levels of economic development and inequality. Originality/value This paper is exploratory research that discusses an underexplored issue: the impact of income inequality on the consumption of luxury goods such as high-end luxury wines. It contributes to the literature on wine consumption, luxury business and income and wealth inequalities. These fields are rarely approached together and the research emphasizes the potential offered by such a perspective.

Gilt Groupe: Desperately Seeking a New Business Model How Discount Luxury Sites Struggle in the Economic Recovery Era

Gilt Groupe is a favorite website for luxury bargain hunters spending their lunch breaks with style. The company, founded in 2007, already has a well-established reputation and is expected to generate close to $1 billion in annual sales by the end of 2012. Its online platform uses the “flash sales” method, offering limited-time availability of high fashion, travel, home décor, and culinary bargains to its members. Membership, originally by invitation only, is now open to all. The idea of moving “sample sales” online was first realized on a European website, Vente-Privee.com, which now has more than 13 million customers. Following Gilt’s introduction in the United States, flash sales skyrocketed and led to the launching of many new sites, which have proved popular both with consumers seeking impressive discounts on uber-luxury goods, and with exclusive brands wanting to unload their unsold stock quickly