Stimuli Behind Consumers’ Inclination Toward Luxury Brands: A Case Study of Youth Consumers in Colombo, Sri Lanka

Abstract

This quantitative research explores the factors influencing the preference of Sri Lankan youth consumers for luxury brands, presenting a base conceptual model to analyse these influences on inclination towards luxury brands. The study focuses on 170 youth consumers from Colombo, Sri Lanka. Results indicate that self-esteem, social status, and conspicuous consumption impact young consumers' inclination towards luxury brands. The findings reveal the importance of understanding cultural and social dynamics in crafting effective marketing strategies for luxury goods in Sri Lanka.