Chinese Consumer Reasons for Purchasing Luxury Brands in the UK - Dissertation Example

Luxury goods are not necessities and consumers don’t buy them solely on the basis of functionality, the key factor behind their decision to buy luxury products is the perception they have of the product based on the self-esteem and pride the luxury product can give them. For this reason, the study focuses on the perceptions our sample has about the luxury brands that they are consuming. This premise is supported by Willis (2008, p.245) in his research published in Journal of East and West Business, he suggests that the Chinese are attracted to Western products on the basis of their appeal and image, they feel that the possession of the luxury products can add power and luster to their self-image as perceived by their social circle and family.

The functionality of the product is often superseded by the perceived enhancement of image and self-esteem in the eyes of peers and colleagues (Willis, 2008). The respondents were presented with the question that what compels them to pay a higher price for a luxury brand that could have the same functionality as that of a lower-priced brand?It was inferred from the responses that the majority valued fashion and social acceptance as the key factor behind purchasing luxury products. It can also be inferred that the functionality of the product ranked pretty low on the list of reasons for buying the product.

The personal value and the role of social interactions are significant determinants of purchase evaluation and the consequent purchase behavior (Wang, Hi & Li, 2012). Since the interviews were conducted in person, some discussion was also part of the responses, some other findings were: • Quality was although expected from a luxury product; it was not a decisive factor in the purchase decision. • Consumers seek luxury brands to coincide with their personality so that the qualities of the brand can be seen reflected in their personalities.

One of the respondents emphasized that “They are not just products with higher price and quality, but something can indicate someone’s social identity and lifestyle.”• Respondents were asked about their own unique definition of luxury, some defined luxury as “self-indulgence”, “pampering oneself” and “an exhibition of wealth”. The common inference from the responses was that nearly all spoke of intrinsic values they derived from the brand and no one mentioned the price factor.

Perhaps the higher price and qualities were expected from the luxury brand, they did not need to be stated.• On the issue of whether a higher price was justified one of the respondents summed it up as “if the price bothers the person so much, then perhaps the luxury product is not for them, after all, they can and do get the same functionality from the lower-priced or copied version. The luxury brand is for superior tastes.” The majority of the respondents believed that the price was justified because the brand offered much more than just functionality.