Paper Title
Understanding the Perception of Urban Youth towards Luxury Products in India: The Case of Lifestyle Brands
Article Identifiers
Authors
Tanishka Agarwal
Keywords
Luxury, Purchase decision, Perception, Quality, Urban Youth
Abstract
The luxury world is often riddled with questions like, Why is there such inequality in the market for luxury goods? Why do some luxury items command a premium price while others lose value? When we discuss the market for luxury items, these kinds of queries come. The main purpose of this study is to identify the various factors influencing the demand for luxury goods and how these changes affect the volatility of these items' prices on the secondary market. Luxury items make up a sizable portion of the secondary market, which is a vast market. Also, the elements influencing consumers' "perception" of luxury items have hardly ever been covered in earlier studies. The goal of this study was to learn more about how people view luxury items and other elements that affect consumers' "buying decisions" and analyse those findings. Furthermore, the factors affecting consumer's "perception" towards luxury goods have rarely been discussed in prior researches. This study aimed to find out and analyze the perception of urban youth towards luxury goods and other factors that influence the “purchase decision” of consumers. A survey was conducted and responses from a sample of 100 were collected. This research has revealed that consumers are highly “influenced” by “quality” and in their purchase decision. There are many reasons for the same. Firstly, since luxury items are not products of necessity, people are busy procuring necessary things. Secondly, luxury is aspirational which has taken a back seat. The results of current research have provided an insight into analyzing the perceptions of young consumers towards luxury products and a better understanding of how various factors influence the purchase decision.
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How To Cite (APA)
Tanishka Agarwal (July-2023). Understanding the Perception of Urban Youth towards Luxury Products in India: The Case of Lifestyle Brands. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(7), 154-182. https://ijnrd.org/papers/IJNRDTH00064.pdf
Issue
Volume 8 Issue 7, July-2023
Pages : 154-182
Other Publication Details
Paper Reg. ID: IJNRD_201880
Published Paper Id: IJNRDTH00064
Downloads: 000121983
Research Area: Management
Country: Kolkata, West Bengal, India
Published Paper PDF: https://ijnrd.org/papers/IJNRDTH00064.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRDTH00064
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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