The determinants of personal luxury purchase intentions in a recessionary environment

Abstract

Luxury brand consumption has remained strong even in countries with recessions. This study explores the role of personal factors, socio-cognitive factors, and potential marketing forces, in driving consumers’ luxury purchase intentions in a market that is struggling to recover from a recession – Greece. Data were collected using a self-administered survey via an online panel. The results indicate that consumers’ need to escape and impulsiveness are positively associated with luxury brand purchase intentions in a recession. Sales promotions moderate the relationship between escape, self-expression, and luxury brand purchase intentions. Consumers’ perceptions about the recession effect on society also moderate the relationship between escape, self-expression, social status, and luxury brand purchase intentions. This study contributes to the literature and practice of luxury branding in recession by identifying the interplay between various personal, social, and marketing factors that can influence luxury brand purchase intentions in a recessionary environment.

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