Psychological mechanisms behind access-based luxury brand consumption: Empirical investigation from the lens of new ownership paradigm

This research attempts to explore what prompts consumers to use luxury brands through access-based means of consumption. It is theorized that this disposition is a function of developing a sense of psychological ownership towards luxury brands (POLB) and antecedents explaining this state are proposed. Data collected from users engaged in borrowing and renting luxury is used to test the theoretical model. Results indicate that perceived control over accessed brands, intimate knowledge of these brands, and self-investment in these brands predict POLB. POLB further impacts the accessed brands’ equity appraised in the form of brands’ continuous usage and willingness to pay more. Notably, the access type moderates the influence of proposed predictors on POLB. The study contributes to the literature on luxury consumption through access and extends the applications of PO theory in a sharing economy. The study has practical implications for managing access-based luxury brands.