How isolation leads to purchasing luxury brands: the moderating effects of COVID-19 anxiety and social capital
Journal of Product and Brand Management
Purpose: The purpose of this paper is to investigate how consumers’ luxury purchase behavior has been affected by COVID-19. A theoretical framework is proposed to determine how isolation leads to intention to purchase luxury brands through bandwagon luxury consumption behavior. Additionally, the moderating effects of COVID-19 anxiety and social capital on the relationship between bandwagon luxury consumption behavior and subjective well-being and intention to purchase luxury brands are tested. Design/methodology/approach: Survey responses from a national sample of 261 luxury consumers in the USA were collected. The data were analyzed using a covariance-based structural equation modeling technique. Findings: The results confirm that the feeling of isolation leads to a higher intention to purchase luxury brands. Both COVID-19 anxiety and social capital moderate the relationship between bandwagon luxury consumption behavior and intention to purchase luxury brands/subjective well-being related to the luxury brand purchase. Research limitations/implications: Luxury marketers should focus on highlighting bandwagon elements of their brands, such as their popularity and how they enhance social connectedness when tailoring their brand communication to isolated consumers. The data is limited to luxury consumers in the USA; thus, the findings are specific to the US market. Originality/value: Given the paucity of research on luxury consumption for isolated consumers, this study adds to the literature on luxury brands by examining how the feeling of isolation affects the intention to purchase luxury brands.
Bandwagon luxury brand consumption behavior, COVID-19 anxiety, Intention to purchase luxury brands, Isolation, Social capital, Subjective well-being
Marketing and Business Analytics
Sajani Thapa, Francisco Guzmán, and Audhesh K. Paswan. "How isolation leads to purchasing luxury brands: the moderating effects of COVID-19 anxiety and social capital" Journal of Product and Brand Management (2022): 984-1001. https://doi.org/10.1108/JPBM-05-2021-3500