An Exploratory Study of Luxury Consumption in Korea: Implications for International Marketers and Advertisers
Published: 2012
Author(s) Name: Min-Woo Kwon, Jonghyuk Lee, Yongjun Sung, Dave Wilcox |
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Abstract
Despite the growth and potential of the luxury market in Korea, there is a very limited amount of empirical knowledge about
primary consumption motives. By surveying a sample of 200 non-student consumers from South Korea, the results suggest
Korean consumers have three primary consumption motives. Findings reveal that the Conspicuousness motive and the number
of visits to local luxury brand stores were positively associated with the volume of luxury goods purchases. In addition, this
study revealed that there was a positive association between household monthly income and the expenditure for luxury goods
consumption. Finally, this study provided implications for marketing strategists.
Keywords: Luxury brands consumption, Consumption Motive, Korea
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