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An Exploratory Study of Luxury Consumption in Korea: Implications for International Marketers and Advertisers


Affiliations
1 School of Journalism and Mass Communication, The University of Wisconsin at Madison, Madison, Wisconsin., United States
2 Division of Communication Arts, Kwangwoon University, Seoul., Korea, Republic of
3 Temerlin Advertising Institute, Southern Methodist University, Dallas, Texas., United States
     

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Despite the growth and potential of the luxury market in Korea, there is a very limited amount of empirical knowledge about primary consumption motives. By surveying a sample of 200 non-student consumers from South Korea, the results suggest Korean consumers have three primary consumption motives. Findings reveal that the Conspicuousness motive and the number of visits to local luxury brand stores were positively associated with the volume of luxury goods purchases. In addition, this study revealed that there was a positive association between household monthly income and the expenditure for luxury goods consumption. Finally, this study provided implications for marketing strategists.

Keywords

Luxury Brands Consumption, Consumption Motive, Korea
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  • An Exploratory Study of Luxury Consumption in Korea: Implications for International Marketers and Advertisers

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Authors

Min-Woo Kwon
School of Journalism and Mass Communication, The University of Wisconsin at Madison, Madison, Wisconsin., United States
Jonghyuk Lee
Division of Communication Arts, Kwangwoon University, Seoul., Korea, Republic of
Yongjun Sung
Temerlin Advertising Institute, Southern Methodist University, Dallas, Texas., United States
Dave Wilcox
School of Journalism and Mass Communication, The University of Wisconsin at Madison, Madison, Wisconsin., United States

Abstract


Despite the growth and potential of the luxury market in Korea, there is a very limited amount of empirical knowledge about primary consumption motives. By surveying a sample of 200 non-student consumers from South Korea, the results suggest Korean consumers have three primary consumption motives. Findings reveal that the Conspicuousness motive and the number of visits to local luxury brand stores were positively associated with the volume of luxury goods purchases. In addition, this study revealed that there was a positive association between household monthly income and the expenditure for luxury goods consumption. Finally, this study provided implications for marketing strategists.

Keywords


Luxury Brands Consumption, Consumption Motive, Korea

References