A Study On Perceptions Of Consumers Towards The Luxury Goods

As representative goods of EU, luxury goods have swarmed into China's marketin recent years. China is a booming luxury goods marketing in the world. This articleexamines this phenomenon based on consumer perceived value. Many theoretical andempirical studies have made by marketing researchers in attempt to investigate theperceptions of consumers towards the luxury goods. However, there is a lack ofstudies of the relationship between different perceived values of consumers towardsthe luxury goods. In addition, few researchers analyzed the relationship betweenconsumers' perceived values towards the luxury goods and demographic statisticsvariables. At the same time, there are quite few relevant studies on perceived valuesof consumers towards the luxury goods in China's academic field. This study aims toanalyze the structure of perceived values of consumers towards the luxury goods, andtheir connection with consumers' personal characteristics. Methods employed in thisstudy included descriptive statistics, ANOVA, MANOVA, factor analysis, clusteringand Chi square.The result of factor analysis generated five factors, respectively named"Conspicuousness value", "Quality value", "Aesthetic value", "Self-gift giving", and"Uniqueness value", reflecting the structure of perceived values of consumerstowards the luxury goods. The result of MANOVA demonstrated that demographicstatistics variables are significantly different in perceived values factors of consumerstowards the luxury goods, and the relationship between them is analyzed. Clusteringanalysis accordingly revealed four different clusters, including cluster of "seekingconspicuousness consumers", cluster of "seeking perfect consumers", cluster of"self-gift giving consumers" and cluster of "seeking uniqueness consumers". Theresult of MANOVA showed these four clusters are significantly different in perceivedvalues factors of consumers towards the luxury goods, thus providing a managementimplication for the practitioners in marketing.