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Consumer Behaviour In Purchasing Luxury Goods During Economic Crises

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  • Alexandra Giuliana ANDRONIC

    (Alexandru Ioan Cuza University of Iasi, Romania)

Abstract

With the luxury goods market constantly growing, understanding the consumer’s behaviour and the factors influencing the purchasing decision-making process is crucial. By understanding the consumer’s behaviour among buyers of luxury goods in times of crisis, this paper can propose a series of measures that could improve the marketing mix and marketing strategies for the companies involved in the luxury goods market, from large manufacturers to retailers. The negative effects of the economic recession caused by the Covid19 pandemic led to the necessity to recognize the changes in the consumer behaviour that may have a lasting impact, and they definitely will. Economic crisis has a significant impact on consumption practices and the way consumers justify their consumption patterns.

Suggested Citation

  • Alexandra Giuliana ANDRONIC, 2021. "Consumer Behaviour In Purchasing Luxury Goods During Economic Crises," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 25, pages 9-14, May.
    • Handle: RePEc:cmj:seapas:y:2021:i:25:p:9-14
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Berta Marcos Ceron & Manuel Monge, 2024. "Luxury goods and services in recession periods. Time trends and persistence analysis," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 23(6), pages 588-595, December.

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    More about this item

    Keywords

    Crises; Luxury goods; Consumption; Sales; Marketing behaviour;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

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