There has been substantial research on luxury globally, but there is a dearth of studies empirically investigating the key relationships affecting luxury consumption. The aim of this paper is to consider the role of consumer vanity and brand consciousness and to set their relationships in context of luxury consumption.
To measure consumer vanity, brand consciousness, attitude towards luxury brands and purchase intentions, pre-established scale items were adopted. Self-administered questionnaires were distributed through luxury exhibitions and festivals in major cities of India. A sample of n = 342 luxury consumers was analysed using structural equation modelling.
The findings support that brand consciousness is mediating the relationship between consumer vanity and luxury consumption. Luxury consumers are primarily driven by achievement vanity. They are likely to evaluate luxury brands based on their price, fame and their ability to portray their professional achievements. They incur unreasonable costs to acquire the expensive, famous and prestigious luxury brands and conspicuously consume them to display their success and accomplishments.
The study provides an in-depth explanation of how consumer vanity is leading to consumption of luxury brands. The marketers may benefit by focussing on promotion of their brand's symbols and logos than on specific product features.
This is the first empirical examination understanding the mediating effect of brand consciousness as a mediator between consumer vanity and luxury consumption.
