Motivations toward luxury apparel consumption: An assessment on young generation in Ho Chi Minh City
Abstract
In recent year, Vietnam has viewed as a new potential market for luxury products. Additionally, lots of luxury brands got into Vietnam market as well as numerous shopping mall centers were built. The appearance of luxury product in Vietnamese lifestyle is increased during the time even though there is the fact that our country is poor country with very low GDP per capita. Therefore, in order to study more about that paradox, this research was conducted to investigate the factors/motivations that drive the customers toward the desire on luxury product consumption. Due to the broad category of product in luxury industry, the researcher decided to use luxury apparel as a proxy to carry out the study. In addition, young generation, aged from 18 to 35, would be the group that the researcher would like to access. Thus, this research is an attempt to examine the motivation factors that affect
the young customer toward luxury apparel consumption.
The research was conducted from September 2012 to December 2012 in Ho Chi Minh City. The reviewing of literature, related theories and former researches were used to find the appropriate research model for this study.
Using the research approach of quantitative method, the primary data was collected at the rate of 94.5%. After analyzing the data from 189 respondents through reliability test, descriptive statistic, factor analysis, multi regression and one-way ANOVA, the researcher got the final result which indicated that 3 main motivations drive customer to the luxury apparel consumption desire, which are: Bandwagon, Perfectionist and Snob.
Although there are some limitations of this study, the implications and recommendations can be further considered in order to understand the factors affecting the young customer desire on luxury apparel consumption as well as
improve the luxury apparel brand’s advertising campaign or other related purpose.