Luxury Fashion Consumption among Youth in India during an Economic Downturn: Factors Affecting Attitude and Purchase Intent

In the ever changing era, quick adaptation of marketers with the changing times is increasing day by day. It has become pertinent to examine the behavior of consumers to stand the test of times and sustain in the competitive market. India's luxury fashion market has increased in the past few years but with uncertainties like an economic downturn we are faced with unprecedented situation. The paper aims to find out the factors affecting luxury fashion consumption among the youth of India during an economic down turn. An empirical study was undertaken and attitude and purchase intention model was adopted from previous study. Data collection was done viaan online survey. 205 responses were collected and statistical tools such as SPSS and Excel were used for the factor analysis and application of correlation and regression for data analysis. Through this research it came to light that brand consciousness, social comparison and fashion involvement affect the attitude of consumers who buy luxury fashion products. The attitude in turn impacts the final purchase intention of the buyer. The study can be further conducted for a larger population of consumers and on particular segment of luxury fashion goods like accessories, apparels, footwear and cosmetics.