Psychological Factors of Luxury Consumption Olga Patosha

Problem Statement The phenomena of luxury consumption is thoroughly investigated in American and European science, but poorly presented in Russia Results of recent consumer’s research show the luxury consumption increase in Russian market (Maternovsky 2004, BrandStrategy 2007, Yakubaneсs 2010)

Luxury refers to products or services of a very high standard connected with pleasure and comfort, bring the owner esteem, apart from functional utility Luxury consumption closely connected with human social behavior.

The aim of investigation is to determine factors of luxury consumption Investigation was conducted in 2010 in Moscow (Russia). 100 senior courses students of different universities who recently had purchased luxury thing Method: scale “Luxury consumption’s factors”. expensive, sold only in expensive shop, exclusive, new product on the market, rare, popular, fashionable, prestigious, necessary attribute of my referent group, original, more expensive than the same- category product, qualitative, can buy only high-class people, proven product

Strategies of Luxury Consumption conspicuous consumption or Veblen effect consumer demonstrates his social status or he tries to identify himself with higher class representatives (O'Guinn&Shrum 1997) Snob effect consumer purchases very unique product, which is unpopular and rare (Corneo G., Jeanne O., 1997)

Strategies of Luxury Consumption two factors of luxury consumption reflect interaction between consumer and society. The first factor demonstrates demand to be like others, to have the same products which others have, the second factor demonstrates trends against society, to be not like others, to have products, which others do not have.

Consumption and demonstration of special things connected with personal features (Furnham 2001). Human values characterize personal relationship towards material goods, personal wealth, play an important role and can be predictors of consumer behavior style. The aim of investigation to find out personal features of luxury consumption. Methods: 16 PF by R. Kettel “Terminal values esteem” by I. Senin

Luxury Consumption Strategy “To Be Like Others” Values of own prestigious (r = 0,3; p<0.05), high material status (r = 0,29; p<0.05), achievement (r = 0,31; p<0.05). Personal trades dominance (r = 0,38; p<0.01), behavioral normativity (r = 0,37; p<0.01).

Luxury Consumption Strategy “To Be not Like Others” Values of active social contacts (r = -0,33; p<0.05) Personal trade nonconformism (r = 0,37; p< 0.01)