Luxury Consumption: The Decision Process

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Author(s): Ranjit Singha (Christ University, India), Surjit Singha (Kristu Jayanti College, India), Alphonsa Diana Haokip (Don Bosco College, Maram, India), Rebeka R. Sreethi (Christ University, India)and Rejoice Thomas (Christ University, India)
Copyright: 2025
Pages: 34
Source title: Effective Marketing and Consumer Behavior Tactics for High-End Products
Source Author(s)/Editor(s): Vera Teixeira Vale (University of Aveiro, Portugal)and Adriana Coutinho Gradim (University of Aveiro, Portugal)
DOI: 10.4018/979-8-3693-8739-9.ch007

Keywords: Business & Management / Business Science Reference / Marketing and Consumer Behavior / Operations & Service Management

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Abstract

This chapter explores the luxury consumer decision process, highlighting the psychological, social, and cultural factors that influence luxury purchases. Consumers are driven by emotional and social motivations, such as self-expression and status, which shape their buying behaviors. Social and cultural differences require marketers to adapt strategies to diverse regional preferences. As digital technologies transform the luxury market, brands face the challenge of maintaining exclusivity while embracing e-commerce, social media, and influencer marketing. To remain competitive, luxury brands must leverage psychological insights and digital tools to create personalized, engaging experiences. The future of luxury consumption will depend on brands' ability to build meaningful connections with consumers, fostering loyalty and ensuring long-term success in an evolving market landscape.

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