Thursday, September 26, 2019

Research Methods Essay Example | Topics and Well Written Essays - 2000 words

Research Methods - Essay Example The phenomenon for luxury goods has changed as there has been the emergence of ‘new luxury’ products that are commonly consumed by the middle class. Conversely, ‘old luxury’ products include brands like Dolce and Gabbana, HUGO BOSS and Louis-Vuitton are not as widely consumed as the ‘new luxury’ among the middle income young consumers. In a nutshell, the ‘new luxury’ products stand out among the consumers due to their emotional appeal and superior performance (Silverstein and Fiske, 2008: 35). This paper studies the online behaviour of male consumers between the ages of 25-28 regarding luxury. This section of the population has been observed to be mainly shopping for fashion clothing, electronics, fragrances, entertainment and cosmetics in the online market. Statement of the Problem In the past, luxury brands were for the few privileged shoppers, but now with the invention of online shopping and affordability consumption of these pr oducts has increased among the young males (GoMo News, 2013). Recent studies reveal carried out in the UK market that spending on luxury products has increased by 50 percent in the past ten years as compared to the7 percent increase in spending on basic goods (Keane and McMillan 2004: 30; Frost and Sullivan,2012). In addition to, the rising trend of online spending has resulting to numerous challenges and opportunities to the luxury brands (Goldsmith, 2002: 25; Eroglu et al., 2003: 140). It is therefore imperative for luxury brand mangers to get a comprehensive understanding of why consumers buy luxuries. It is important to note that consumers mainly in the age bracket of 25- 28 years buy to impress (Fan and Burton, 2002: 26; Martin and Turkey, 2004: 464). There has been an emerging view that there are two types of luxury good consumption, personally oriented and socially oriented and they should be considered in the online sales and marketing. The current study seeks to get an unde rstanding of the online behaviour of male consumers between the ages of 25 to 28 regarding luxury shopping. Aims and Objectives Consumer behaviour towards online shopping for luxury goods is highly dependent on age and gender. This is because the older generation views luxury differently from the younger generation due to the effect of the internet (Hauck and Stanforth, 2007: 175). This paper studies on the behaviour for male online shoppers between ages 25 to 28. Past studies have overlooked the motivational factors affection the consumer behaviour in the purchase of ‘new luxury’ goods (Twitchell, 2003: 43; Parker and Schaefer, 2004: 176). The study will analyse the deep motivation factors including image, fashion and media. The paper looks at the shopping tendencies for male shoppers between the ages of 25 to 28 years for luxury goods in the online market and the motivational factors behind their decision making. Objectives To study how the gender and age affects the shopping tendencies of online male shoppers. To study the motivational factors affecting the purchase of luxury products by online shoppers in the UK. To give an understanding of the various internal psychological processes decision making with regards to the consumption of luxury goods. Research Questions Do age and gender impact on the consumers’ perception of luxury products? Why do people in this age bracket opt for the ‘

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