AN EMPIRICAL STUDY TO EXAMINE CONSUMER BEHAVIOR TOWARDS LUXURY BRANDS IN PAKISTAN

다국어 초록 (Multilingual Abstract)

The origins of modern Consumerism can be traced back to the eighteenth century, whereby the concept ofconsumer societies began to flourish in the European block (Stearns, 2001).These were the economies that formed the hub of commercial activities, having had an access to the global products. Furthermore, post Second World War culminated into the ‗economy of abundance‘ as has been rightly suggested by Galbraith in his book ‗The affluent society‘, (1958). This affluence was the result of industrialization and technological revolution in United States and other developed countries that led to the mass production of goods and henceforth increased individuals‘standard of living. 21st century witnessed mushrooming growth in branded goods and consumer‘s aspiration to endlessly spend on luxury goods items. Since then there has been a continuous temptation on consumers end to spend extravagantly and acquire prestigious goods to appear more urbane, chic and sophisticated. Consumers choice of luxury brands is also considered as social indicators that also serve as an artifact for the reflection of their status, eminence and position in Society (Power and Hauge, 2008) Consumers incessant desire to spend on high end luxury brands such as Channel, Burberry, Gucci and Rolex have compelled researchers to understand the prime motivators and determinant factors that instigate consumer behavior towards branded goods. This paper seeks to understand the factors that influence consumer‘s selection of luxury brands in Pakistan and specifically those attributes on the basis of which different product categories are selected. The subsequent text reflects on the literature review related to consumer behavior towards conspicuous goods consumption with specific reference to luxury goods market in Asia and Pakistan.