Topic
Luxury Fashion Consumption in China(Factors Affecting Attitude and Purchase Intent)
Instructions
Write a 300-word dissertation with 23 references about Luxury Fashion Consumption in China.
Answer preview
The global luxury fashion product consumption has generally declined following the 2008 financial crunch that shook financial markets and sectors world over (Cavender & Rein, 2009); however, the trends in Mainland China are unique, since the consumption rates have continued to increase. There is a particularly growing appetite for luxury fashion brands in upcoming Asian economies, most notably China, a situation this has contributed to the growth of the industry in the recent years (Li, Li & Kambele, 2012). While there is a dearth of research attention exploring the dynamics of such trends, the few studies which exist highlight several mediating factors. An empirical study conducted by Zhang and Kim (2013) showed that the Chinese consumers were buying luxury fashion products as a way of belonging to specific social classes, since social comparison created a situation where possessing luxury fashion goods was viewed as a symbol of success. Moreover, fashion innovativeness and consciousness created a positive attitude of Chinese buyers towards the luxury fashion products, which in turn resulted in more Chinese people purchasing the luxury products.
Word count: 3587