Luxury Goods Consumption:A Conceptual Framework Based on Literature Review

Luxury goods consumption has received limited attention in marketing literature in spite of the presence of a significantly big luxury marketing industry. Studies focused on the definition of luxury, commented on the characteristics of luxury buyers, researched the buying motivations of luxury consumers; but no study integrated them all to present an integrated framework of luxury goods consumption. Based on review of extant literature on the subject, this paper is an attempt to bridge this gap. The paper primarily serves two distinct but related purposes. Firstly, a comprehensive review of literature on luxury marketing is presented with an attempt to analyze luxury goods consumption from three different perspectives which are product or brand perspective, consumer characteristics perspective and buying motivations perspective. And, secondly an integrated conceptual framework is presented which brings together the three different perspectives of luxury goods consumption.