Antecedents Affecting the Purchase Intention of Millennials Towards Luxury Fashion Goods: A Mixed Methods Study

Abstract

This study explored the factors that persuade young consumers to have a positive intention to purchase luxury fashion goods. This study followed a mixed methodology approach. In-depth interviews were utilized to identify the most significant factors that encourage young consumers to purchase luxury fashion goods. Quantitative data collection was carried out on 218 Indian young consumers to validate the results derived from the qualitative analysis on a comparatively larger sample. Structure equation modeling using AMOS 21.0 was used to test the hypothesized relationships. The findings indicated significant relationships that exist between the factors that influence young Indian consumers and attitude towards purchase of luxury fashion goods and its subsequent effect on purchase intention. The study provides researchers with a better understanding about this consumer cohort, which is the "millennials" and provides luxury goods manufacturers and retailers with important implications to develop effective marketing strategies in the Indian luxury goods market.