The purpose of this paper is to understand the role of materialism and brand consciousness in determining the luxury consumption among the young Indian consumers.
In order to measure materialism, brand consciousness, attitude toward luxury brands and purchase intention, pre-established scale items were used to design the self-administered questionnaire. A valid sample of 342 respondents was collected through mall intercepts, in-store intercepts, luxury brands exhibitions and festivals and international airports. The relationship was tested using regression analysis.
The findings support that the materialism and brand consciousness are positively related to the luxury consumption in India and play an important role in predicting the behavior of the young luxury buyers. The Indian youth is buying expensive luxury brands as symbols of status success and wealth in order to fulfill their materialistic goals. The desire to own and possess the well-known and expensive brand names demonstrates the importance the consumers attach to the social and symbolic value of the luxury brands.
The study reveals that the young Indian luxury buyers choose to buy brands that are most advertised. Creative advertisements enhancing luxury brands’ symbolic and social value can be effective. The study has implications for the international luxury brands, as they are expensive, well known and famous among the global consumers.
The key contribution of the study is the establishment of materialism and brand consciousness as important antecedents in the development of attitude toward luxury brands among the young Indian consumers.
