Purchase intention of customers towards luxury brands in North Macedonia: theory of planned behaviour approach

Abstract

This study aims to investigate customers' purchase intentions towards luxury products in North Macedonia using theory of planned behaviour framework developed by Ajzen. The study used brand image, quality, price and dissimilarity of luxury goods in order to identify the reasons why customers buy luxury products. A well-structured questionnaire was sent to 257 respondents regarding their motivation to select their preferred luxury brands. The study used SMART PLS 3 software to develop a structural equation modelling (SEM), and SPSS 20 for descriptive statistics. The findings revealed that brand image and dissimilarity of luxury goods were found to be the most dominant factors that influence customer perceived behavioural control, followed by subjective norms. In other words, perceived behavioural control is the strongest predictor of consumers' intention; consumers prefer to buy luxury brands because they have extra money which enabled them to meet their luxury needs. In addition, subjective norms denoted that social pressure had a significant impact on purchasing luxury goods. This research will be very helpful for companies in North Macedonia to develop effective marketing strategies while communicating and positioning their products to their target customers.

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