How Does Beliefs Work as a Barrier Affecting Consumer’s Attitude Towards Luxury Brand’s Consumption

Abstract

Consumer beliefs act as barrier towards purchasing luxurious and prominent brands among consumers. In recent decades, China has experienced significant growth in the consumption of luxury goods and services attributable to consumer beliefs. Our research focuses on consumer beliefs enhancing the consumption of valuable brands. Nevertheless, a literature gap exists on examining consumer beliefs acting as a barrier towards consumption of luxury brands inclusion of Louis Vuitton and Gucci. The research poses questionnaires that were administered on August 2021 to 30 random online consumers who were selected randomly through WeChat Application. We posit that the consumer's belief based on the integrity and benevolence of the luxurious product seller determines the dissatisfaction of consumers rather than satisfaction. Based on quantitative findings and literature analysis, the paper's main objective is to assess how consumer beliefs act as a barrier towards consumption of major luxurious brands based on perceived value, perceived risk, and perceived quality. Indeed, the consumer's beliefs strongly influence the purchasing behavior and patterns of global brands. We confirm that that: 1) The price of luxury goods and services limit the perceived value of the consumers. 2) Weakening brand value limits wealthy consumers and upper-class individuals from purchasing goods and services that everyone possesses. 3) There is an excellent shift from conspicuous consumption to inconspicuous consumption among the rich. 4) Religion beliefs and commitment limit the types of goods and services individuals can or may consume. 5) Consumer animosity limits the type of market, country, or group where individuals can purchase their goods and services. 6) The origin of a country where the good is produced or where the consumer lives limit the type of goods and services the consumer can buy. 7) Lastly, brand feedback also shapes the beliefs of the consumer towards product dissatisfaction. The findings contribute to existing literature.