Luxury brand consumption in emerging economies: review and implications

Kineta H. Hung, David K. Tse

Research output: Chapter in book/report/conference proceedingChapterpeer-review

Abstract

The market for luxury brands has been growing rapidly in emerging economies over the past decade; yet, there are salient gaps in our knowledge. This chapter traces the socio-institutional forces that have given rise to the current market landscape in emerging economies. It then examines the literature on luxury brand consumption and delineates the personal motivations (e.g., achievement celebration, identity affirmation), social motivations (e.g., self-expression, image enhancement) and cultural theories (e.g., face-saving, family-pride) relevant to emerging economy consumers’ motives for luxury brand consumption. Using Chinese consumers as the point of departure and supplementing the conceptualization with insights from studies on Russian and Indian consumers, the chapter identifies four distinct groups of luxury brand consumers: global materialists, millennials, nostalgic compensators, and Tuhao consumers. The four groups are purported to emphasize intrinsic versus extrinsic motivations, and carry a present-to-future versus a past-to-present temporal orientation. The research and managerial implications are discussed.
Original languageEnglish
Title of host publicationResearch Handbook on Luxury Branding
EditorsFelicitas Morhart, Keith Wilcox, Sandor Czellar
PublisherEdward Elgar Publishing
Chapter6
Pages93-116
Number of pages24
ISBN (Electronic)9781786436351
ISBN (Print)9781786436344
DOIs
Publication statusPublished - 2 Apr 2020

Publication series

NameResearch Handbooks in Business and Management
PublisherEdward Elgar Publishing

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