The Empirical Study On The Influencing Factors Of Chinese Young Women’s Luxury Consumption

With the solid growth of China’s economy and the increase assets of the wealth group,China’s luxury consumption continues to increase.Luxury consumption,as an important driving force to the upgrading of consumption structure and economic development,has gradually become one of the focuses in the economics field.The research on luxury consumption in China start comparatively late,besides,the research results are scattered and most of them are based on qualitative research.Therefore,it is of great theoretical and practical significance to study the influencing factors of luxury consumption in China through empirical analysis.We propose a model of the factors affecting the luxury consumption of young women based on the generalized consumer purchase decision-making model,theory of luxury consumption motivation and consumption preference,and put forward the corresponding assumptions.In this paper,a questionnaire survey has been conducted and we analyzed the internal and external factors influencing mechanism for luxury consumption behavior through descriptive analysis and cross analysis of the obtained data;then,by binary logistic regression analysis of significant size and weight affect the internal factors of young female luxury consumption in China,we made the further verification and propose a luxury consumer behavior prediction model.Among the individual factors of Chinese young female luxury decision-making,family income per capita,origin and professional categories are the most prominent effects,while the occupation and personal income are also significant;From the personal subjective factor dimension,influence of conformity motivation and hedonic motivation on luxury consumption significantly the strongest while the design of luxury consumer is the most important from the product dimension;And consumers are sensitive to policy changes in the environment dimensions.Meanwhile,we examine the prediction accuracy of our binary logistic regression model luxury goods consumption behavior,and the results show that the prediction accuracy rate is 80.2%.Through theoretical analysis and empirical model,our research devotes to comprehensive understanding of domestic consumption habits and the development of local luxury goods industry;We focus on significant factors to strengthen the precise marketing,as well as upgrading of consumption structure by the balance of luxury consumption,health consumption and education consumption;Based on Logistic model and present luxury goods consumption status,our research also help guiding consumers to rational consumption.