Articlegold2022

Why Do(n’t) We Buy Second-Hand Luxury Products?

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Consumer Behavior in Brand Consumption and Identification Environmental Sustainability in Business Consumer Retail Behavior Studies

Abstract

Global sales of second-hand luxury products are steadily increasing. To better understand key drivers for purchasing second-hand luxury products, a survey was conducted including 469 respondents. The study not only includes existing customers, but also non-customers and thus potential future clientele. Based on the theory of planned behavior, the components of attitude, subjective norms, perceived behavioral control, and individual motivators (creative, economic, ethical, nostalgic, sustainable) were investigated. Using structural equation modeling, the results support the influence of attitude, past purchase experience, perceived behavioral control, and subjective norms on purchase intention. Attitude, in turn, is mainly impacted by economics and ethics as individual motivators. Further, subjects were asked to state their own definition of luxury and to name individual reasons for and against second-hand luxury products. Thereby, quality turned out to be double-edged: on the one hand, second-hand products were able to prove their quality, on the other hand, the fear of counterfeits and unhygienic products was cited. Overall, consumers of second-hand luxury goods are heterogeneous and have different buying experiences with one or more of the three categories: new luxury goods, second-hand luxury goods, and second-hand products. The study thus expands the understanding of the transformation within the (second-hand) luxury industry.

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References

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