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Consumer behaviour factors and contemporary trends on the luxury goods market

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  • Marija Antonija Pajić

Abstract

Regardless of the economic crisis all over the world, the market of luxury goods thrives continuously. The research aims to provide an extensive overview of the theoretical background of this occurrence and contemporary trends, analyse the consumer behaviour factors in buying luxury goods and the effect of online shopping as a form of digitalisation on the sales of luxury goods, with particular emphasis upon the sale of luxury handbags. The methods were consisted of an overview of relevant scientific and expert literature, reports of market experts for the luxury goods markets and official statistic databases. Research resulted in detecting digitalisation as the biggest change and trend of luxury industry. Online sales and revenues of luxury goods’ continuous growth indicates that digitalisation and its tools such as online shopping are an important consumer behaviour factor, affecting the sales of luxury goods, including luxury handbags, to a significant extent.

Suggested Citation

  • Marija Antonija Pajić, 2019. "Consumer behaviour factors and contemporary trends on the luxury goods market," Notitia - journal for economic, business and social issues, Notitia Ltd., vol. 1(5), pages 101-118, December.
    • Handle: RePEc:noa:journl:y:2019:i:5:p:101-118
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    References listed on IDEAS

    as
    1. Nwankwo, Sonny & Hamelin, Nicolas & Khaled, Meryem, 2014. "Consumer values, motivation and purchase intention for luxury goods," Journal of Retailing and Consumer Services, Elsevier, vol. 21(5), pages 735-744.
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    More about this item

    Keywords

    luxury goods; consumer behaviour factors; digitalisation; online shopping; social media;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • L67 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods; Household Goods; Sports Equipment
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

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