AN ANALYSIS OF LUXURY PRODUCT PURCHASING BEHAVIOR OF MALAYSIAN UNIVERSITY STUDENTS

This paper examines the factors influencing the purchase of luxury products among Generation Y from the perspective of Malaysian university students. Self-administered questionnaires were distributed to 450 students in five Malaysian public universities. In addition to questions regarding reasons for purchasing luxury products, the influential factors investigated are (a) income and social class; (b) learning and memory; (c) motivation and value; (d) perception; (e) personality and lifestyle; (f) marketing mix; (g) group influence; and (h) the environment and situation. The results indicated that income and social class are the leading factors influencing purchase of luxury products in the sample population. Based on the findings, implications for companies are discussed and further research is suggested.