Evaluating Factors Stimulate Purchase Intention of Chinese Gen Z in luxury Brand
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Wenrui Li
College:
College of Business and Public Management
Major:
Global Business
Faculty Research Advisor(s):
Weichun Zhu
Abstract:
Factors Stimulating Chinese Gen Z’s Purchasing Intention of in Luxury Brands
Purpose –The objective of this research is to investigate the factors that impact Chinese Generation Z's purchasing intention. We examine the effects of reference group factors, functional factors, endorsement factors, and self-identity factors on Chinese Generation Z's purchase intention.
Design/methodology/approach-- The empirical investigation focuses on the marketing segment of Chinese Generation Z consumers. We used a structured questionnaire to collect the dataset comprising a total of 31 primary responses. We used the SPSS software to conduct the analyses to test the proposed model and relevant hypotheses.
Finding-- The study findings found that three key aspects, including reference group, functional factors, and self-identity value, play a significant role in fostering loyalty behavior toward luxury brands among Chinese Generation Z consumers. However, endorsement attributes were not found to have a significant influence on luxury brand attachment of the Chinese Gen Z consumers.
Research limitations/implications –The research result is obtained from a student sample which may influence its generalizability. Future research may consider expanding the participant pool to include non-student samples.
Keywords: Luxury brand, Gen Z, reference group, functional factors, endorsement factors, self-identity factors, purchase intention."