Relationships among Purchase Intentions for Luxury Brands and Personality Traits Based on the Big Five

Abstract

Fujiwara and Nagasawa [1] verified differences in the degree of effect of the four psychological factors1 that constituted Japanese people’s preference for luxury brands on the development of purchase intentions for luxury food and car brands. This study is related to the study mentioned above and verifies the effects of consumers’ personality traits on purchase intentions for these luxury brands. It uses a personality trait classification method called the “Big Five personality traits” to perform an empirical analysis of the way that the five dimensions of personality traits4 influence purchase intentions for each brand. As a result, it suggests 1) that the purchase intentions of emotionally unstable consumers with a high dimension of Neuroticism for FERRARI and PORSCHE are significantly lower than those with a low dimension of Neuroticism and 2) that the purchase intentions of consumers who are highly devoted to art and have a high dimension of Openness to Experience for DOM PERIGNON, FERRARI, ROLLS-ROYCE and PORSCHE are significantly higher than those with a low dimension of Openness to Experience.