The influence of luxury brand added-value on the purchase behaviors of Chinese millennials

Abstract

The objective of this paper is to explore the purchase behaviors of Chinese Millennials with the increase of brand added-value, specifically in the field of luxury brands. Chinese millennials have a different attitude and understanding of luxury brands when comparing with other generations. They are willing to pay extra money for luxury brands and females are more emotional than males when they purchasing luxury brands. In addition, with the huge shift of social environment, their perceptions of value are different from other generations. The questionnaire is designed after interviewing 30 volunteers their attitudes about the increase of brand added-value will directly or indirectly change their purchase behaviors. 200 responses are collected within 2days. After that, we find the relationship between brand added-value and purchase behaviors in the field of luxury brands by using Jamovi. The results show that not all factors which cause the increase of brand added-value will have a positive impact on consumers. Only high quality which improves the brand premium of a brand can promote. Those business people have a high interest in these results because they always want to get more consumers with the brand added-value increased.