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한국복식학회(IJCF) 학술지영문홈페이지
[ Article ]
International Journal of Costume and Fashion - Vol. 20, No. 1, pp.27-43
ISSN: 2233-9051 (Print) 2288-7490 (Online)
Print publication date 30 Jun 2020
Received 27 May 2020 Revised 16 Jun 2020 Accepted 20 Jun 2020
DOI: https://doi.org/10.7233/ijcf.2020.20.1.027

Individual and Social Factors Impacting Chinese Millennials’ Luxury Consumption

Jung-Hwan Kim† ; Man Man Hsu ; Chi-lok Andrew Yuen
Associate Professor, Dept. of Retailing, College of Hospitality, Retail and Sport Management, University of South Carolina, Columbia, USA
Master of International Business, Darla Moore School of Business, University of South Carolina, Columbia, USA
Senior Lecturer, Dept. of Decision Sciences and Management Economics, CUHK Business School, The Chinese University of Hong Kong, Shatin, N.T., Hong Kong

Correspondence to: † jhkim@mailbox.sc.edu

Citation Kim, J.-H., Hsu, M. M., & Yuen, C.-I. A. (2020). Individual and social factors impacting Chinese millennials’ luxury consumption. International Journal of Costume and Fashion, 20(1), 27-43.

Abstract

This study examined individual and social determinants that impact Chinese Millennials’ desire for luxury status consumption which eventually influences their purchase intent of luxury fashion goods. Whether income derived differences in regard to the determinants exist or not was further investigated. A self-administered survey was employed to collect data from undergraduate and graduate students at a large university in Hong Kong, China. A series of regression analyses were utilized to test hypotheses. The findings of the study indicate that both individual (i.e., materialism) and social elements (i.e., need for uniqueness and social comparison) positively influence Chinese millennials’ desire for status consumption of luxury fashion goods, while social factors are the key drivers of low income group’s desire for status consumption. These findings provide major implications to academics and practitioners.

Keywords:

Chinese Millennials, Luxury goods, Status consumption, Purchase intent, Income

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