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What Are the Factors Influence Chinese Consumer Behaviour on Luxury Goods?

Essay by   •  February 28, 2018  •  Research Paper  •  12,770 Words (52 Pages)  •  1,029 Views

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Running Head: LUXURY GOODS

What are the factors influence Chinese consumer behaviour on luxury goods?
[Name of the Writer]

[Name of the Institution]


Acknowledgment

For this research, I would like to thank my family, friends and specifically my supervisor, for supporting and guiding me throughout my journey of learning. Without their support, it would not have been possible for me to conduct this research.


Declaration

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

Signed __________________                 Date _________________


ABSTRACT

Because of the increase developments of national economy as well as the improvement in purchasing power of people, the consumption of luxury products in China is also experiencing certain developments. Despite of the increased growth of luxury goods consumers in China, there have been little studies conducted that are related to the attitude of Chinese consumers for purchasing luxury goods and brands. Research studies pertaining to luxury consumers are mostly linked to their drives behind the consumption of these goods. The interesting question is that why most Chinese people prefer to purchase luxury goods. Therefore, an increased understanding of Chinese luxury goods consumption might help this industry on global perspective. This study is conducted to assess the various factors that influence Chinese consumer behaviour towards luxury goods purchasing. Research aims and research questions were developed, and past studies related to luxury consumption in China were discussed. Primary data was collected through surveys from luxury goods consumers in China. The study found that factors such as improved self-image, improved social status, quality, price, lifestyle changes, increased income, show-off factor etc. drive Chinese consumers to purchase luxury goods, hence impacting their behaviour towards these goods.

Key Words: Luxury Goods, Chinese Consumer Behaviour, Luxury Market in China


Table of Contents

ABSTRACT        I

LIST OF TABLES        VI

LIST OF FIGURES        VII

CHAPTER 1 – INTRODUCTION        1

Background of the Study        1

Problem Statement        3

Research Aims and Objectives        4

Research Questions        5

Significance of the Study        5

Structure of the Dissertation        6

CHAPTER 2 - REVIEW OF LITERATURE        8

Definition of Luxury        8

Luxury Goods in China        10

Buying Behaviour towards Luxury Goods        14

CHAPTER 3 – RESEARCH METHODOLOGY        18

Research Design        18

Research Philosophy        19

Data Collection Method        19

Research Instrument        21

Sampling Technique        22

Participants and Sample Size        22

Data Analysis Method        22

Ethical Considerations        23

Limitations of the Research        24

CHAPTER 4 - RESULTS AND DISCUSSION        25

Results        25

Discussion        36

CHAPTER 5 - CONCLUSION        40

REFERENCES        42

APPENDIX        50

Informed Consent Form        50

Survey Questionnaire        51


LIST OF TABLES

Table 1 - Gender Characteristics        25

Table 2 - Age Characteristics        26

Table 3 - Income Characteristics        27

Table 4 - Area of Respondents        28

Table 5 - Frequency to Purchase Luxury goods        29

Table 6 - Types of Luxury Goods purchased        30

Table 7 - Purchase of luxury products        31

Table 8 - Luxury products and Price        32

Table 9 - Reasons to purchase luxury brands        33

Table 10 - Opinion towards luxury brands        35


LIST OF FIGURES

Figure 1 - Gender Characteristics        25

Figure 2 - Age Characteristics        26

Figure 3 - Income Characteristics        27

Figure 4 - Area of Respondents        28

Figure 5 - Frequency to Purchase Luxury goods        29

Figure 6 - Types of Luxury Goods purchased        30

Figure 7 - Purchase of luxury products        31

Figure 8 - Luxury products and Price        32


CHAPTER 1 – INTRODUCTION

        This chapter introduces the research topic to the readers by discussing background of the study, problem statement, highlighting the research aims and objectives as well as research questions, significance of the study, definition of key terms used throughout the study, and structure of the study followed throughout the research.

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