• Title/Summary/Keyword: Luxury Value

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Luxury Fashion Brands' Patronage of Arts and Culture as Corporate Philanthropy (럭셔리 패션브랜드의 사회공헌활동으로서의 문화예술지원)

  • Yi, Myeongseon;Beom, Seohee;Yim, Eunhyuk
    • Journal of the Korean Society of Clothing and Textiles
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    • v.45 no.3
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    • pp.546-558
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    • 2021
  • As consumers' demand for corporate social responsibility (CSR) has increased, luxury fashion brands have been providing support for arts and culture as CSR activities. The purpose of this study is to examine patronage of arts and culture as corporate philanthropy and to analyze the motives luxury fashion brands have for supporting arts and culture. The study investigates patronage of arts and culture through literature reviews and conducts case studies of luxury fashion brands' patronage. The results of the analysis are as follows: first, patronage based on public interest reduces the social costs of arts and culture and helps to create aesthetic experiences for the public; second, sustainable patronage is not only priceless PR for luxury fashion brands, it also supports the development of arts and culture; third, authentic patronage obviates the criticism that luxury fashion brands only support arts and culture for the purposes of profit, by separating business operations from patronage. In conclusion, those three elements are at the heart of patronage for the arts and culture and fashion companies need to support culture and the arts by taking a long-term perspective when it comes to creating social value.

The Study on Purchase Intention of Luxury Brand about Price Raising: Focus on Difference according to Consumer Characteristics of Consumption Value, Prior Knowledge, and Perceived Risk (명품브랜드의 가격인상시 구매의도에 관한 연구: 소비가치, 사전지식, 지각된 위험의 소비자특성별 차이를 중심으로)

  • Kim, Hwa Dong
    • Journal of Digital Convergence
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    • v.10 no.11
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    • pp.295-306
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    • 2012
  • This study analyzed empirically difference of purchase intention about price raising of luxury brand according to consumer characteristics such as consumption value, prior knowledge. and perceived risk. Fist, groups according to consumption value showed obvious differences. Group of pursuing uniqueness and ostentation value and group of pursuing quality and pleasure value showed positive purchase intention but group of pursuing social recognition value showed negative purchase intention. Second, groups according to perceived risk. didn't show difference and groups according to prior knowledge showed obvious difference. group of high prior knowledge showed positive purchase intention but group of low prior knowledge showed negative purchase intention. Third, analyzed result about interaction effect of consumer characteristics, Classified group of pursuing uniqueness and ostentation value, expressing high prior knowledge and Classified group of pursuing quality and pleasure value, expressing high perceived risk only showed positive purchase intention, The results of this study present implication to domestic companies aiming luxury brand that performing differently strategy of product and price according to target characteristics is more effective way in differentiating oneself from existing luxury brands and expanding market.

The Effect of Benefits and Online Shopping Risks on Channel Selection for Luxury Fashion Items (패션 명품의 추구혜택과 온라인 구매위험지각에 따른 쇼핑채널 선택)

  • Park, Hye-Sun;Kim, Hyun-Sook
    • Journal of the Korean Society of Clothing and Textiles
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    • v.35 no.1
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    • pp.13-25
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    • 2011
  • This study investigates the factors influencing consumer's channel selection for luxury fashion items, specifically the effect of (i) perceived luxury benefits, (ii) perceived online shopping risks, (iii) demographics, and (iv) purchasing behavior. A survey questionnaire was developed and implemented to measure the perceived luxury benefits, perceived online shopping risks, purchasing behaviors, and consumer demographics. A total of 396 responses were analyzed by one-way ANOVA, cross-tab, and multinomial logit analysis with SPSS18.0. The results are as follows. First, those who shop in offline shopping channels tend to be heavy buyers that look for product quality and conspicuousness. They perceive low risks from online shopping and purchase few bag items offline. Second, those who shop online tend to be men and perceive the high benefits of economic value. Third, those who shop in multi channels tend to be men, search for information via the Internet, and purchase few accessory items. Implications for multichannel strategies are suggested.

The Impact of Factors on Consumers' Conspicuous Consumption (고객의 과시소비에 영향을 미치는 요인 연구)

  • Byeon, Hyeonsu
    • Journal of Service Research and Studies
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    • v.6 no.2
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    • pp.201-214
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    • 2016
  • The main purpose of this paper was to review how luxury value is related to the consumer's conspicuous consumption and purchasing intention. The author formed luxury value which is including financial, functional, social, and individual value. In order to obtain the research results, the author conducted a survey and implemented statistical treatments. The results can be proposed as follows: First, financial, functional, social, and individual value was positively influencing on conspicuous consumption. Second, conspicuous consumption was impacting on intention to purchase. Third, it was suggested that the relative effect of individual value on conspicuous consumption was greater than other values. Thus it was concluded that consumers put a high value on conspicuous consumption.

A study on the influence of customer engagement on Chinese consumers' purchase intention and brand attitude of the luxury brand community (럭셔리 브랜드 커뮤니티에서 고객 인게이지먼트가 중국 소비자의 구매의도 및 브랜드 태도에 미치는 영향)

  • Danyang, Liu;Kim, Hyojung;Park, Minjung
    • The Research Journal of the Costume Culture
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    • v.28 no.5
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    • pp.621-638
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    • 2020
  • Luxury companies are striving to improve their communication with customers while paying attention to online promotion and marketing activities. As companies interact with customers in luxury brand communities via various channels, they yield consumers higher value throughout the effective consumption process. In addition, this connection enhances customers' understanding of the company, making it easier for companies to acquire empathy from customers. This study aims to analyze the value factors that affect luxury brand community members' purchase intention and brand attitude. This study utilizes online survey results of four hundred prestige brand community users in China. The results reveal the positive effects of customer engagement on customer psychological empowerment and flow, the positive impacts of customer psychological empowerment and flow on community identity and brand attachment, the positive effects of community identity on purchase intentions, and the positive effects of brand attachment on purchase intentions and brand attitude. Furthermore, the results show that community types and fashion involvement partially moderate customer engagement. This study provides theoretical suggestions for relationship marketing in the luxury brand community environment. Last, this study presents practical implications that companies could utilize to create an emotional connection with their community members, resulting in an increase of customer support.

The Effect of Luxury Fashion Brand Customer Equity Drivers on Customer Loyalty - Differences among Segmented Markets based on Purchasing Patterns - (럭셔리 패션 브랜드의 고객자산 구성요소가고객충성도에 미치는 영향 - 럭셔리 패션 제품 구매빈도와 구매액에 따른 세분시장별 분석 -)

  • Hwang, Yookyung
    • Fashion & Textile Research Journal
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    • v.15 no.2
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    • pp.219-230
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    • 2013
  • To generate future profits, luxury brands need to recognize and understand customers as individually important and analyze the impact factors that improve specific customer equity. With the growing recognition that customer equity is a key strategic asset, this study empirically investigates the effect of customer equity drivers on customer loyalty based on the study of Vogel et al.(2008) which expanded the Rust et al.(2000)'s study on customer equity. We empirically examine if the customer equity drivers have a different impact on customer loyalty. This study hypothesizes that the relative effect of customer equity drivers would be different depending on the purchasing behavior of consumers and examines the effects of them on the relationship of the drivers of customer equity and customer loyalty. We use stepwise multiple regression analysis to empirically test the relationship of value equity, brand equity, and relationship equity and customer loyalty. Relationship equity influences customer loyalty more strongly than value equity and brand equity. Customers seem to build loyalty based on the careful assessment of all costumer equity drivers (value equity, brand equity, and relationship equity). In addition, their relative impact is different depending on the purchasing behavior of consumers. A company cannot maintain all customer equity drivers at a high level with limited marketing resources; therefore, marketing investment for all customer equity drivers need to be allocated differentially depending on the purchasing behavior of consumers.

A Study of Luxury Bag Consumption as Media Focused on the Consumer Experiences of the 2030 Generation (미디어로서의 명품 가방 소비에 관한 연구 2030세대의 소비 경험을 중심으로)

  • Park, Jeongeun;Ryoo, Woongjae
    • Korean journal of communication and information
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    • v.71
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    • pp.157-193
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    • 2015
  • The purpose of this study is to critically interpret generational trends in contemporary Korea through understanding the consumer experiences of luxury bag purchases of women in their late 20s and early 30s. Previous studies on luxury consumption tend to focus on an analysis of the value of luxury products as a sign and a symbol, the characteristics or class identity of luxury consumers, or expressive behavior in terms of ideal self-image. While including these factors, this study also expands the scope to a reflexive understanding of the social structural context behind the phenomenon of personal consumption. This was achieved by considering consumption in terms of the style and practice of everyday life, as well as its opportunities and limitations. In particular, we pay attention to how luxury bags are reproduced as media, which is a process that is circulated back to consumption, and through this process, this study reflects on capitalist life and subjects.

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Revitalizing Department Store Shopping Value and In-store Experiences: A Case Study on Debenhams and Selfridges

  • Claridge, Christina;Hur, Eunsuk
    • Journal of Fashion Business
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    • v.25 no.6
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    • pp.81-101
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    • 2021
  • Traditional department stores have been struggling to attract customers for several years. Many retail stores have closed in recent years, even before the COVID-19 pandemic. The reinvention of in-store shopping value and experience is imperative to attract customers and reinvigorate retail business. The purpose of this study was to discover which in-store components can improve customer experiences and loyalty while also identifying dissatisfaction issues in consumer experiences in department stores. The data was collected from two consumer groups-luxury department store (Selfridges) customers and mid-market department store (Debenhams) customers-to identify the types of value and experiences they seek most often. The findings showed that to enhance their store patronage, Debenhams should reposition their brand image in a way that allows customers to connect with their self-image and lifestyle by improving efficiency and convenience and prioritizing the utilitarian and social value types. By contrast, Selfridges should enhancetheir store atmosphere, visual merchandising and sensory experiences by maximizing slow retailing experiences and emphasizing the aspirational self-concept image for symbolic and hedonic value. This research uncovered the existence of numerous overlappingvalue dimensions, each of which contributed to the enhancement of the others. Several young customers expressed their support for ecologically responsible, cost-effective second-hand luxury products. Instead of focusing merely on conventional value dimensions, department retailers should determine how environmental and ethical objectives can be fulfilled. This study explained how department stores can craft their in-store environments to appeal to their customers' preferred value types to ensure success in a competitive market.

A Study on the Plan Composition of Public Part of the Luxury Resort Hotels in Jeju-Do (제주도 특급관광호텔의 공공부분 평면구성에 관한 연구)

  • 박철민;김학진
    • Korean Institute of Interior Design Journal
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    • no.38
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    • pp.153-163
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    • 2003
  • In order to overcome such limits of hotel sales, the role of hotel public section, such as eating and drinking facilities, is very important. Moreover, city hotels increase the value of public section by providing various event for citizens as well as and services for banquet. Since Jeju has urban hotels and resort hotels mixed together, their Plane types and area composition based on the characters of customers using the public section are different from ones of other cities. The purpose of this study is to provide basic material for the qualify improvement of the luxury resort hotels in Jeju. We examine the tendency of the systematic Plane composition of the Public sections which take different types of customers, such as Jeju people and tourists, into consideration, analyzing the plane types and the area composition of the luxury resort hotels in Jeju. The study shows that the public part of hotels always had great impact on hotels sales depending on the compositions of plane and area.

The Effect of Fashion Orientation and Consumer Needs for Uniqueness on Buying Intentions for Luxury Brands (패션성향과 소비자독특성욕구가 명품구매의도에 미치는 영향)

  • Jeon, Kyung-Sook;Park, Hye-Jung
    • Journal of the Korean Society of Clothing and Textiles
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    • v.29 no.2
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    • pp.231-241
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    • 2005
  • The purpose of this study was to identify the buying intentions for luxury fashion brands. The data used in this study were gathered through surveying university students living in Seoul metropolitan area. The variables included in this study were demographics, which are gender, age, academic major, area of residence, expenditure for apparel, pocket money, and family income, and fashion orientation and consumer needs for uniqueness were included as personal value variables. All demographic variables except academic major and area of residence were significantly related to the buying intentions. Among the fashion orientation factors, fashion intered was significantly related to the buying intentions while fashion leadership and importance of being well-dressed were not. Consumer needs for uniqueness was indirectly related to the buying intentions for luxury brands through fashion interest. The creative choice counterconformity was positively related to fashion interest, whereas the unpopular choice counterconformity was negatively related to it.