IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i18p11730-d918528.html
   My bibliography  Save this article

How Do Perceived Value and Risk Affect Purchase Intention toward Second-Hand Luxury Goods? An Empirical Study of U.S. Consumers

Author

Listed:
  • Xingqiu Lou

    (Department of Apparel, Merchandising, Design and Textiles, Washington State University, Pullman, WA 99164, USA)

  • Ting Chi

    (Department of Apparel, Merchandising, Design and Textiles, Washington State University, Pullman, WA 99164, USA)

  • Justin Janke

    (Department of Apparel, Merchandising, Design and Textiles, Washington State University, Pullman, WA 99164, USA)

  • Gianna Desch

    (Department of Apparel, Merchandising, Design and Textiles, Washington State University, Pullman, WA 99164, USA)

Abstract

The second-hand luxury market is currently experiencing rapid growth. Despite the existing knowledge on consumer second-hand luxury shopping behavior, little is known about second-hand luxury consumption in the U.S. The purpose of this study is to investigate how U.S. consumers perceive second-hand luxury goods and the various factors that influence their purchase intentions, including economic, emotional, social, quality, green values, and perceived risk. An online survey was conducted to test the proposed relationships between the related variables in the conceptual model. A total of 340 eligible responses was collected. The psychometric properties of the proposed model were examined, and the multiple regression method was applied to test the hypotheses. Results of this study indicated that perceived emotional value, perceived social value, perceived quality value, and perceived green value positively influence U.S. consumers’ intention to purchase second-hand luxury products. The proposed research model shows a good explanatory power, accounting for 75.4% of variance in U.S. consumers’ purchase intention towards second-hand luxury goods. This research is one of the first attempts to understand the second-hand luxury consumption of U.S. consumers, a critical segment in the luxury resale market. Understanding consumers’ desired values regarding second-hand luxury goods will enable retailers and brands to develop effective marketing strategies and promote sustainable consumption.

Suggested Citation

  • Xingqiu Lou & Ting Chi & Justin Janke & Gianna Desch, 2022. "How Do Perceived Value and Risk Affect Purchase Intention toward Second-Hand Luxury Goods? An Empirical Study of U.S. Consumers," Sustainability, MDPI, vol. 14(18), pages 1-16, September.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:18:p:11730-:d:918528
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/18/11730/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/14/18/11730/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ting Chi & Jenisha Gerard & Alison Dephillips & Hang Liu & Jing Sun, 2019. "Why U.S. Consumers Buy Sustainable Cotton Made Collegiate Apparel? A Study of the Key Determinants," Sustainability, MDPI, vol. 11(11), pages 1-15, June.
    2. Ferraro, Carla & Sands, Sean & Brace-Govan, Jan, 2016. "The role of fashionability in second-hand shopping motivations," Journal of Retailing and Consumer Services, Elsevier, vol. 32(C), pages 262-268.
    3. Guiot, Denis & Roux, Dominique, 2010. "A Second-hand Shoppers’ Motivation Scale: Antecedents, Consequences, and Implications for Retailers," Journal of Retailing, Elsevier, vol. 86(4), pages 355-371.
    4. Dominique Roux & Denis Guiot, 2008. "Measuring Second-Hand Shopping Motives, Antecedents and Consequences," Post-Print hal-02022216, HAL.
    5. Mariadoss, Babu John & Chi, Ting & Tansuhaj, Patriya & Pomirleanu, Nadia, 2016. "Influences of Firm Orientations on Sustainable Supply Chain Management," Journal of Business Research, Elsevier, vol. 69(9), pages 3406-3414.
    6. Lastovicka, John L, et al, 1999. "Lifestyle of the Tight and Frugal: Theory and Measurement," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 26(1), pages 85-98, June.
    7. Chi, Ting & Sun, Yao, 2013. "Development of firm export market oriented behavior: Evidence from an emerging economy," International Business Review, Elsevier, vol. 22(1), pages 339-350.
    8. Kessous, Aurélie & Valette-Florence, Pierre, 2019. "“From Prada to Nada”: Consumers and their luxury products: A contrast between second-hand and first-hand luxury products," Journal of Business Research, Elsevier, vol. 102(C), pages 313-327.
    9. Turunen, Linda Lisa Maria & Cervellon, Marie-Cecile & Carey, Lindsey Drylie, 2020. "Selling second-hand luxury: Empowerment and enactment of social roles," Journal of Business Research, Elsevier, vol. 116(C), pages 474-481.
    10. repec:dau:papers:123456789/7634 is not listed on IDEAS
    11. Lindsay McCoy & Yuan-Ting Wang & Ting Chi, 2021. "Why Is Collaborative Apparel Consumption Gaining Popularity? An Empirical Study of US Gen Z Consumers," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    12. DUBOIS, Bernard & LAURENT, Gilles & CZELLAR, Sandor, 2001. "Consumer rapport to luxury : Analyzing complex and ambivalent attitudes," HEC Research Papers Series 736, HEC Paris.
    13. Shukla, Paurav & Banerjee, Madhumita & Singh, Jaywant, 2016. "Customer commitment to luxury brands: Antecedents and consequences," Journal of Business Research, Elsevier, vol. 69(1), pages 323-331.
    14. Inhwa Kim & Hye Jung Jung & Yuri Lee, 2021. "Consumers’ Value and Risk Perceptions of Circular Fashion: Comparison between Secondhand, Upcycled, and Recycled Clothing," Sustainability, MDPI, vol. 13(3), pages 1-23, January.
    15. Aurélie Kessous & Pierre Valette-Florence, 2019. "“From Prada to Nada”: Consumers and their luxury products: A contrast between second-hand and first-hand luxury products," Post-Print hal-02492707, HAL.
    16. Sheth, Jagdish N. & Newman, Bruce I. & Gross, Barbara L., 1991. "Why we buy what we buy: A theory of consumption values," Journal of Business Research, Elsevier, vol. 22(2), pages 159-170, March.
    17. Christodoulides, George & Athwal, Navdeep & Boukis, Achilleas & Semaan, Rania W., 2021. "New forms of luxury consumption in the sharing economy," Journal of Business Research, Elsevier, vol. 137(C), pages 89-99.
    18. Yoo, Boonghee & Donthu, Naveen, 2001. "Developing and validating a multidimensional consumer-based brand equity scale," Journal of Business Research, Elsevier, vol. 52(1), pages 1-14, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ting Chi & Olabisi Adesanya & Hang Liu & Rebecca Anderson & Zihui Zhao, 2023. "Renting than Buying Apparel: U.S. Consumer Collaborative Consumption for Sustainability," Sustainability, MDPI, vol. 15(6), pages 1-16, March.
    2. Zhongjie Wang & Chuanlan Liu, 2023. "Mining Chinese Consumer Minds: Motivations for Selling Unwanted Fashion Items in Online Resale Marketplaces," Sustainability, MDPI, vol. 15(16), pages 1-16, August.
    3. Chuanlan Liu & Jeremy M. Bernardoni & Zhongjie Wang, 2023. "Examining Generation Z Consumer Online Fashion Resale Participation and Continuance Intention through the Lens of Consumer Perceived Value," Sustainability, MDPI, vol. 15(10), pages 1-18, May.
    4. Chuanlan Liu & Sibei Xia & Chunmin Lang, 2023. "Online Luxury Resale Platforms and Customer Experiences: A Text Mining Analysis of Online Reviews," Sustainability, MDPI, vol. 15(10), pages 1-19, May.
    5. Claudia Arias & Javier Bernardo Cadena Lozano & Miguel Angel Bello Bernal, 2024. "The Role of Value in Extending the Lifetime of Products: An Analysis of Perceived Value and Green Consumption Values on Pro-Circular Behaviors of Repair and Reuse," Sustainability, MDPI, vol. 16(4), pages 1-26, February.
    6. Ting Chi & Anastasia Frattali & Hang Liu & Yini Chen, 2023. "Regenerated Cellulose Fibers (RCFs) for Future Apparel Sustainability: Insights from the U.S. Consumers," Sustainability, MDPI, vol. 15(6), pages 1-13, March.
    7. Nayeon Kim & Kyungtag Lee, 2023. "Environmental Consciousness, Purchase Intention, and Actual Purchase Behavior of Eco-Friendly Products: The Moderating Impact of Situational Context," IJERPH, MDPI, vol. 20(7), pages 1-17, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Katharina Stolz, 2022. "Why Do(n’t) We Buy Second-Hand Luxury Products?," Sustainability, MDPI, vol. 14(14), pages 1-24, July.
    2. Kelcie Slaton & Sanjukta Pookulangara, 2022. "The Secondary Luxury Consumer: An Investigation into Online Consumption," Sustainability, MDPI, vol. 14(21), pages 1-17, October.
    3. H M Rakib ul Hasan & Chunmin Lang & Sibei Xia, 2022. "Investigating Consumer Values of Secondhand Fashion Consumption in the Mass Market vs. Luxury Market: A Text-Mining Approach," Sustainability, MDPI, vol. 15(1), pages 1-18, December.
    4. Ting Chi & Olabisi Adesanya & Hang Liu & Rebecca Anderson & Zihui Zhao, 2023. "Renting than Buying Apparel: U.S. Consumer Collaborative Consumption for Sustainability," Sustainability, MDPI, vol. 15(6), pages 1-16, March.
    5. Michel, Géraldine & Stathopoulou, Anastasia & Valette-Florence, Pierre, 2022. "Luxury is still alive and well: A spotlight on its multifaceted components," Journal of Business Research, Elsevier, vol. 153(C), pages 276-284.
    6. Ting Chi & Anastasia Frattali & Hang Liu & Yini Chen, 2023. "Regenerated Cellulose Fibers (RCFs) for Future Apparel Sustainability: Insights from the U.S. Consumers," Sustainability, MDPI, vol. 15(6), pages 1-13, March.
    7. Lindsay McCoy & Yuan-Ting Wang & Ting Chi, 2021. "Why Is Collaborative Apparel Consumption Gaining Popularity? An Empirical Study of US Gen Z Consumers," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    8. Adıgüzel, Feray & Donato, Carmela, 2021. "Proud to be sustainable: Upcycled versus recycled luxury products," Journal of Business Research, Elsevier, vol. 130(C), pages 137-146.
    9. Chuanlan Liu & Jeremy M. Bernardoni & Zhongjie Wang, 2023. "Examining Generation Z Consumer Online Fashion Resale Participation and Continuance Intention through the Lens of Consumer Perceived Value," Sustainability, MDPI, vol. 15(10), pages 1-18, May.
    10. Maria Rodrigues & João F. Proença & Rita Macedo, 2023. "Determinants of the Purchase of Secondhand Products: An Approach by the Theory of Planned Behaviour," Sustainability, MDPI, vol. 15(14), pages 1-18, July.
    11. Mauro Capestro & Greta Chiavegato, 2023. "Il consumo dei beni di lusso nel contesto della sharing economy: un caso di studio italiano," ECONOMIA E SOCIET? REGIONALE, FrancoAngeli Editore, vol. 2023(1), pages 53-70.
    12. Yanwen Ruan & Yingjiao Xu & Hanna Lee, 2022. "Consumer Motivations for Luxury Fashion Rental: A Second-Order Factor Analysis Approach," Sustainability, MDPI, vol. 14(12), pages 1-16, June.
    13. Tan, Teck Ming & Makkonen, Hannu & Kaur, Puneet & Salo, Jari, 2022. "How do ethical consumers utilize sharing economy platforms as part of their sustainable resale behavior? The role of consumers’ green consumption values," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
    14. Sharma, Amalesh & Soni, Mauli & Borah, Sourav Bikash & Haque, Tanjum, 2022. "From silos to synergies: A systematic review of luxury in marketing research," Journal of Business Research, Elsevier, vol. 139(C), pages 893-907.
    15. Turunen, Linda Lisa Maria & Cervellon, Marie-Cecile & Carey, Lindsey Drylie, 2020. "Selling second-hand luxury: Empowerment and enactment of social roles," Journal of Business Research, Elsevier, vol. 116(C), pages 474-481.
    16. Yini Chen & Ting Chi, 2021. "How Does Channel Integration Affect Consumers’ Selection of Omni-Channel Shopping Methods? An Empirical Study of U.S. Consumers," Sustainability, MDPI, vol. 13(16), pages 1-29, August.
    17. Padmavathy, Chandrasekaran & Swapana, Murali & Paul, Justin, 2019. "Online second-hand shopping motivation – Conceptualization, scale development, and validation," Journal of Retailing and Consumer Services, Elsevier, vol. 51(C), pages 19-32.
    18. Ting Chi & Jenisha Gerard & Alison Dephillips & Hang Liu & Jing Sun, 2019. "Why U.S. Consumers Buy Sustainable Cotton Made Collegiate Apparel? A Study of the Key Determinants," Sustainability, MDPI, vol. 11(11), pages 1-15, June.
    19. Chi, Ting, 2018. "Understanding Chinese consumer adoption of apparel mobile commerce: An extended TAM approach," Journal of Retailing and Consumer Services, Elsevier, vol. 44(C), pages 274-284.
    20. Barbara Borusiak & Andrzej Szymkowiak & Elena Horska & Natalia Raszka & Elżbieta Żelichowska, 2020. "Towards Building Sustainable Consumption: A Study of Second-Hand Buying Intentions," Sustainability, MDPI, vol. 12(3), pages 1-15, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:14:y:2022:i:18:p:11730-:d:918528. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.