A Study of Consumer Behavior towards Luxury Products using the Theory of Planned Behavior in Indian Perspective

The growth of wealth and consumerism has been driven in the developed world by economic development and globalization. The Indian buyers of luxury have now pushed beyond high-net worth people. The rising aspirations of buying preferences and sales levels have resulted in a change in the capacity of Indian luxury consumers to the high middle-class segment. The commitment of the new rich to the glamorous lifestyles of their West by buying and owning globally renowned brands to uphold their global standards of consumption has led to the emergence of a luxurious consumer class in India. This new mass interest in luxury has fueled luxury growth in India, demonstrating the changing Indian buyer of luxury. The Indian Luxury Market, once thought to be impenetrable to international luxury markets, has now become an attractive destination. India, however, has not earned the attention of researchers who investigate the consumption of luxury, is one of the fastest growing economies in the world. The enormous potential of the Indian luxury market calls for researchers to understand Indian luxury consumers in depth. The lifestyle market, including clothing, shoes, watches and jewellery is growing because Indian customers now want a luxurious lifestyle. Our study aims at the theory of planned behavior and identifying, proposing and testing the relationship between the luxury-consumer attitudes of young Indians. The research will focus on the noticeable consumption of luxury items in apparel/accessories and watch/jewellery categories. The findings indicate that there is a connection between luxury and vanity consumption - brand consciousness - is fully mediated by brand Consciousness, which is how vanity can lead to luxury consumption. Consumers with an inflation perspective/sensitive interest in their performance will assess luxury brands according to their skills. Brand awake luxury customers have more than their physical appearance inflated vision and anxiety about their status. Consumers with ego follow a well-known and highly prized decision-making style in purchase. This seems to be the essential psychological mechanism behind the connection between vanity and luxury.