Investigating Consumers’ Personal Values that Triggers Luxury Fashion Purchase Intentions: With a Moderating Role of Consumer’s Demographics

Abstract

Consumer purchase intention towards luxury brands is influenced by various factors, both internal and external. The purpose of this study is to examine the values that drive consumers to purchase luxury brands during COVID-19. The study seeks to achieve four main objectives by examining four universal values, namely openness to change, conservation, self-enhancement, and self-transcendence, and their impact on purchase intention. We collected primary data from upper-middle-class youth and young adults through a questionnaire. Previous research shows that aspirational youth, including GenZ and millennials, are the primary consumers of luxury brands today. To analyze the data, we used Statistical Package for Social Sciences (SPSS) – version 25 and Analysis of Moment Structure (AMOS) – version 23. The results demonstrate that self-direction, stimulation, hedonism, achievement, conformity restraint, universalism, benevolence, and preservation have significant relationships with purchase intention. However, no significant relationship was observed between power attainment, security, and purchase intention.