Motivations of Impulse Buying of Luxury Goods

Abstract

Man-made decisions could be framed and motivated. In this study, we decided to look into specific motivations that would impact choice making of a specific type of consumers, one of which among-impulsive, loyal, need-based, bargaining, wandering consumers. After evaluating potential motivations of consumers, we decided to focus on "impulsive consumers" eventually, presuming this specific type of consumer would be influenced by factors that is reasonably measurable. After deciding the type of consumer, we would have to specify the type of goods we will be focusing on, to limit our choice of goods associated with specific characteristics. This could make the research easier as the task is more specific. We decided to concentrate on "luxury goods", due to their innate ability in such as, arising vanity in people. We utilised theories from previous studies of other scholars and have designed experiments to test the extent of the effect of such hypothesised phenomenon.