Democratization of Luxury Fashion: The effects of democratization on luxury fashion brands.
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School of Business |
Bachelor's thesis
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Date
2021
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Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
55 + 7
Series
Abstract
Objectives The main objective of this research was to determine the effects of democratization of luxury, thus the increase in the availability of luxury, on consumers’ value perceptions and purchase intentions. Additionally, this research aimed to determine the mediation role of value perceptions on the relationship between democratization and value perceptions. Summary Firstly, past research has been analyzed within the literature review. In order to demonstrate the effects of democratization on value perceptions and purchase intentions of consumers, an online survey was conducted, where the participants were presented one of the two images created for the purpose of this survey. The images either showcased democratization or emphasized exclusivity. Therefore, with the creation of the two participant groups, the participants’ inner and outer-directed value perceptions, as well as purchase intentions were measured using appropriate scales. Conclusions The data was analyzed using PROCESS macro model 4 mediation analysis. The findings showcased a full mediation relationship: outer-directed value perceptions were a mediator on the relationship between democratization and purchase intentions. The mediation relationship was not observed in presence of inner-directed value perceptions. Therefore, it was concluded that democratization had significant negative effects on purchase intentions in presence of outer-directed value perceptions.Description
Thesis advisor
Shukla, PauravKeywords
luxury, democratization, purchase intentions, value perceptions, inner-directed, outer-directed, value, fashion