Okonkwo Prelims

(Joyce) #1

This analysis can be applied to any category of goods, but since this book is
concerned with luxury fashion goods, it will be related to the luxury goods
sector. Each of the points above are further expanded according to the
requirements of luxury goods:


1 What consumers buy Luxury consumers buy more than luxury prod-
ucts and services. They buy a complete package of experiences, feelings
and identities made up of the product, the service and the brand’s char-
acteristics.
2 When consumers buy Luxury consumers purchase luxury goods
whenever the opportunity arises. Luxury goods purchases often don’t
result from convenience as they are constantly desired and often fall
within the priority of luxury consumers.
3 Why consumers buy Luxury consumers do not buy luxury fashion
goods when they are required because the desire for luxury goods is not
fuelled by basic needs. Luxury products are ‘cravings’ and sometimes
‘wishes’, rather than functional needs, therefore there is a continuous
yearning to possess them. Luxury goods are objects of desire and desires
exist on a continuous basis.
4 Where consumers buy Luxury consumers buy their products mainly
in major fashion centres of the world where luxury fashion is prominent
in consumer lifestyles.
5 How consumers buy The majority of luxury consumers prefer to shop
in the physical stores in order to benefit from a complete product selec-
tion and also enjoy the luxury retail atmosphere. However, other shop-
ping channels such as the Internet and Mobile shopping are gaining
increasing influence in the luxury arena and consumers are continuously
shopping through these channels.
6 How often consumers buy Luxury consumers buy luxury goods as
frequently as is practically and financially possible for them. They often
do not evaluate the buying decision of luxury goods on a logical basis. As
previously indicated, luxury goods are objects of desire, meaning that if
consumers can help it, they would fulfil this desire on a continuous basis.
7 How often consumers use the products Luxury goods are highly rele-
vant to consumers as a stamp of their personalities and lifestyles. As a
result, the products are used frequently.
8 How consumers evaluate the products The post-purchase evalua-
tion of luxury products is almost a non-representational occurrence. This
is because the appreciation of luxury goods extends beyond the products’
functional attributes to include abstract and symbolic benefits. As a
result, the evaluation focus is on the role of the luxury product in the life
of the consumer and the satisfaction that it provides. Since the symbolic
role of luxury products is continuous, their post purchase evaluation
remains immaterial.

chapter 3 63

the luxury fashion consumer
Free download pdf