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Consumer Thirst for Luxury: Definition, Perception, and Consumption of Luxury Brands in Emerging Economies
Rehana Naheed, Maria Sultana, Shahzad Akram, Mazhar Iqbal, Zeeshan Ismail
Abstract:
The luxury brand industry experienced tremendous growth over many years. However, luxury brand research did not capture attention in emerging economies. Therefore, this research aims to develop a luxury brand definition, evaluate the luxury brand perception, and investigate the factors affecting the consumption of luxury brands in emerging economies, especially in Pakistan. This study extends the validation of self-congruity theory in the model of factors affecting luxury brand consumption. Data were collected from 343 students at main colleges in the capital city (Islamabad) of Pakistan from December 2024 to March 2025. A combination of convenient sampling and purposive sampling techniques was used to facilitate data collection. Results of data collected from 343 different college students of Pakistan show that premium, symbolic, and expensive are the most critical indicators in the definition of luxury brands. Factors’ results showed that physical and achievement vanity concern has no significant influence, but physical vanity view and achievement vanity-view have a significant influence on fashion consciousness. Consumer vanity has a direct and indirect effect on status consumption. This research will act as guidance to the managers while developing a marketing strategy for luxury brands, especially in emerging economies context.
Keywords:
Luxury brands; Definition; Perception; Status consumption; Emerging economies
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