Factors Influencing Buying Behavior Towards Luxury Retail Brands

Abstract

Over the past few decades, the luxury fashion market has seen substantial growth, drawing a variety of customers with a great appetite for high-end, exclusive goods. Luxury fashion retail businesses have assimilated into the consumer market, grabbing the interest of people looking for top-notch, cutting-edge designs and a sense of elevated status. Numerous elements, from psychological and sociological to economic and technological, have an impact on consumers’ purchasing decisions regarding luxury fashion retail businesses. For luxury fashion stores to create effective marketing strategies and satisfy the always changing needs of their discerning clients, an understanding of these characteristics is essential.