Published Online:August 2024
Product Name:The IUP Journal of Marketing Management
Product Type:Article
Product Code:
Author Name:M Ramesh Kumar and S Shyam Prasad
Availability:YES
Subject/Domain:Marketing
Download Format:PDF
Pages:22
This study was undertaken to identify the factors that influence purchase intention of Indian consumers towards luxury cosmetic products. Though there are many studies on the purchase behavior towards luxury products, the emergence of several cosmetic brands in recent times necessitated the present study. The study examined the responses of 381 users of luxury cosmetic products on the basis of the theory of planned behavior model. Factors such as subjective norms, perceived behavioral control, attitude, and influence of social media were tested using a research instrument drawn from previous studies and adapted to this study. The respondents were chosen on the basis of their usage of luxury cosmetic products. The proposed research model was tested using structural equation modeling on AMOS. The results indicate that subjective norms emerged as the most important antecedent for the purchase of high-end cosmetics, and respondents’ attitude was found to be the second most important factor. Further, in contrast to the earlier research on theory of planned behavior (TPB), the current study revealed no relationship between perceived behavioral control (PBC) and purchase intention. Finally, the study also found a high and positive relationship between purchase intention and social media influence. Thus, the findings provide vital insights into several factors that influence consumers’ choice while purchasing high-end cosmetic products in India.
India is increasingly recognized as a burgeoning market for high-end cosmetic brands (Ghai, 2018). India is a market that perfectly combines modernity and antiquity. International luxury beauty products can perform in India just as well as Indian homegrown products (Paswwan, 2022). Indian customers are also becoming more informed and conscientious of the goods they use on themselves. Indian luxury cosmetics market has experienced a tremendous expansion in recent years because of increased disposable incomes and shifting customer preferences. According to a KPMG India report, by 2025, the Indian luxury market is anticipated to exceed $30 bn, with beauty and personal care being one of the fastest growing segments.