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Theravada Buddhism and Thai Luxury Fashion Consumption

Author

Listed:
  • Michael McAleer

    (Department of Quantitative Finance, National Tsing Hua University, Taiwan)

  • Ning Mao

Abstract

This paper reviews the Thai national character according to Hofstede’s (1991, 2001, 2017) cultural dimension theory and Komin’s (1991) nine values cluster (Psychology of the Thai people), analyses the social hierarchy of Thai consumers according to the Luxury 4P Taxonomy (Han et al., 2010), integrates the Theory of Cultural Capital (Bourdieu, 1984, 1986), and expounds the features of social class. The global luxury fashion industry has grown significantly in recent years, but much of the research has been limited to conspicuous consumption and social identity. This paper involves religious beliefs that are argued to influence luxury purchasing motives. The purpose of the paper is to develop an analytical framework to aid in understanding luxury fashion consumption in a Buddhist country such as Thailand in order to inform luxury products vendors on how to improve their marketing strategies.

Suggested Citation

  • Michael McAleer & Ning Mao, 2017. "Theravada Buddhism and Thai Luxury Fashion Consumption," Journal of Reviews on Global Economics, Lifescience Global, vol. 6, pages 58-67.
    • Handle: RePEc:lif:jrgelg:v:6:y:2017:p:58-67
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    File URL: http://www.lifescienceglobal.com/independent-journals/journal-of-reviews-on-global-economics/volume-6/85-abstract/jrge/2638-abstract-theravada-buddhism-and-thai-luxury-fashion-consumption
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    Cited by:

    1. Michael McAleer & Ning Mao, 2017. "Re-Opening the Silk Road to Transform Chinese Trade," Journal of Reviews on Global Economics, Lifescience Global, vol. 6, pages 225-232.
    2. Lim, Weng Marc & Phang, Cynthia Su Chen & Lim, Ai Ling, 2020. "The effects of possession- and social inclusion-defined materialism on consumer behavior toward economical versus luxury product categories, goods versus services product types, and individual versus group marketplace scenarios," Journal of Retailing and Consumer Services, Elsevier, vol. 56(C).
    3. Mao, N. & McAleer, M.J. & Bai, S., 2017. "Impact of Psychological Needs on Luxury Consumption," Econometric Institute Research Papers EI2017-19, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.

    More about this item

    Keywords

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    JEL classification:

    • N35 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Asia including Middle East
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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