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Theravada Buddhism and Thai Luxury Fashion Consumption

Author

Listed:
  • Michael McAleer

    (Department of Quantitative Finance, National Tsing Hua University, Taiwan)

  • Ning Mao

Abstract

This paper reviews the Thai national character according to Hofstede’s (1991, 2001, 2017) cultural dimension theory and Komin’s (1991) nine values cluster (Psychology of the Thai people), analyses the social hierarchy of Thai consumers according to the Luxury 4P Taxonomy (Han et al., 2010), integrates the Theory of Cultural Capital (Bourdieu, 1984, 1986), and expounds the features of social class. The global luxury fashion industry has grown significantly in recent years, but much of the research has been limited to conspicuous consumption and social identity. This paper involves religious beliefs that are argued to influence luxury purchasing motives. The purpose of the paper is to develop an analytical framework to aid in understanding luxury fashion consumption in a Buddhist country such as Thailand in order to inform luxury products vendors on how to improve their marketing strategies.

Suggested Citation

  • Michael McAleer & Ning Mao, 2017. "Theravada Buddhism and Thai Luxury Fashion Consumption," Journal of Reviews on Global Economics, Lifescience Global, vol. 6, pages 58-67.
    • Handle: RePEc:lif:jrgelg:v:6:y:2017:p:58-67
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    References listed on IDEAS

    as
    1. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    2. Cleveland, Mark & Chang, William, 2009. "Migration and materialism: The roles of ethnic identity, religiosity, and generation," Journal of Business Research, Elsevier, vol. 62(10), pages 963-971, October.
    3. Zeynep Arsel & Jonathan Bean, 2013. "Taste Regimes and Market-Mediated Practice," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(5), pages 899-917.
    4. Kumar, Archana & Lee, Hyun-Joo & Kim, Youn-Kyung, 2009. "Indian consumers' purchase intention toward a United States versus local brand," Journal of Business Research, Elsevier, vol. 62(5), pages 521-527, May.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Michael McAleer & Ning Mao, 2017. "Re-Opening the Silk Road to Transform Chinese Trade," Journal of Reviews on Global Economics, Lifescience Global, vol. 6, pages 225-232.
    2. Mao, N. & McAleer, M.J. & Bai, S., 2017. "Impact of Psychological Needs on Luxury Consumption," Econometric Institute Research Papers EI2017-19, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    3. Lim, Weng Marc & Phang, Cynthia Su Chen & Lim, Ai Ling, 2020. "The effects of possession- and social inclusion-defined materialism on consumer behavior toward economical versus luxury product categories, goods versus services product types, and individual versus ," Journal of Retailing and Consumer Services, Elsevier, vol. 56(C).

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    More about this item

    Keywords

    Luxury fashion consumption; Purchasing motives; Buddhist beliefs; Marketing strategies; Thailand;
    All these keywords.

    JEL classification:

    • N35 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Asia including Middle East
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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