A Study On Chinese Consumer Behavior Of Luxury Goods From The Perspective Of Behavioral Economics

In recent years,China's economy has gone away from high-speed growth and slipped into a period of medium-high-speed development of the new normal.However,China's social consumer groups have shown a trend of rapid growth and continuous expansion of the middle-class and the masses' rich groups.And then the consumer demand for luxury goods also has a significant pull effect.In addition,from the perspective of the distribution of new luxury consumer groups,China's luxury consumers have shown an obvious trend of youth,and consumer purchasing behavior has also changed significantly,which is from the previous "cautious" consumption to "impulse" and "quality" consumption.At the same time,the convenience of Internet shopping has spawned a large number of "impulsive" consumers,while "quality pursuit" consumption has promoted the "consumption normalization" development of China's luxury goods market.In view of this,this paper is based on the domestic consumption market in China,taking Chinese luxury consumers as the research object,based on the theoretical basis of preference reversal and frame effect in behavioral economics.This paper empirically investigates the heterogeneous purchase behavior of luxury goods consumption in micro-family,and empirically analyzes the heterogeneity of preference differentiation and consumption demand of consumer groups in transition period with the help of multi-layer Logit regression model.In addition,the micro-measurement and experimental design are integrated into the unified framework,and the internal and external choice behavior of luxury goods consumers and the framework effect mechanism of influencing luxury goods purchase intention are empirically studied from the macro-micro multi-angle perspective.On the whole,this paper is divided into seven chapters,from the origin of the research,the basis of the topic,combed the domestic and foreign research results in this field.At the same time,this paper analyzes the relevant theories of consumer behavior and purchase motivation,and sums up the evolution and current situation of the development of China's luxury goods market,combining with the consumption and cultural concepts of Chinese local consumers.This paper analyzes the characteristics of the development of Chinese luxury goods market in different stages since the reform and opening up to the outside world.Among them,it discusses in detail the initial forming stage(1978-1997),the promotion stage(1997-2003),the mature stage(2003-2008),and the post-turning surge stage(2008-present)in China's luxury market.In addition,based on behavioral economics and psychological theory,from the perspective of age distribution,gender ratio distribution,geographical distribution,and preference for different brands of luxury goods consumers,This paper discusses the particularity and generality of Chinese luxury consumer behavior and the pluralistic characteristics of consumer demand.The above parts constitute the theoretical basis of this paper.In addition,the paper further studies the factors of the diversification in the consumption behavior of the luxury goods from the following four aspects.First,based on the key transformation of China's new normal development,this paper analyzes the change of Chinese consumer's consumption psychology and its causes,so as to explore the macro and micro factors that affect the change trend of high-end luxury consumption in China;and secondly,by means of the public micro-family database,In combination with the characteristics of the analysis object and the data structure,a multi-layer Logit regression analysis model is constructed,which is applied to the analysis of the difference of the household consumption behavior in China.Thirdly,in view of the changing trend of the age structure of the consumer of luxury goods in China,the differential buying behavior among the different ages of the luxury consumption is discussed,and the difference of the consumption behavior and the formation mechanism of the consumption psychology are further analyzed.At last,based on the existing research results,on the basis of in-depth analysis of the macro and micro factors of the influence of the Chinese luxury behavior,the behavior difference of the consumers' purchase choices under different information frames is verified and analyzed through the combination of the experimental design and the questionnaire investigation.The mechanism of the micro-formation of the consumption behavior of the luxury goods is demonstrated from the point of view of the psychological motive.In particular,the following main conclusions are obtained from the theoretical and empirical analysis:First,the three-four-line urban luxury consumption in China is the fastest,and the luxury consumers have a marked young trend,And post-80 s and post-90 s luxury consumers have become the main force in China's luxury market.The conspicuous consumption proportion of luxury consumers in China is relatively high,and the demand for luxury brands has developed into "transaction type" rather than the "experience" and "enjoy" in the process of consumption,which is also the typical behavior characteristic of the consumer's purchasing preference.In contrast,"After 90" consumers are not the first "to be rich and rich" to buy luxury goods,and more tend to highlight the "taste" of self-consumption and the pursuit of self-worth.With the demand of luxury consumption,as the international high-end brand is more and more inclined to the new generation of consumers in the aspects of design concept,brand appearance,function and so on,the 95-post-95 consumer group has become the core of the Chinese luxury consumer market.In addition,that purchase demand preference of the new-generation luxury consumers mainly focus on the color make-up,the high-end brand of the bag category and the significant preference difference with the traditional luxury consumers.In addition,the geographical distribution of luxury consumers is the fastest in the third four-line city,but Shanghai,Beijing,Guangzhou,Shenzhen,Nanjing,Wuhan,Chengdu and Chongqing are still the core competitive market for luxury sales.Second,the full channel mode of China's luxury goods industry has been continuously improved,the brand is refined,and the development of the people and the people has become the key driving force for the development of the current Chinese luxury market.With the improvement of the informatization level of our country,especially the foreign army of the large-scale online shopping mall,such as the Tmall,Jingdong and the phenomenological society,the traditional entity consumption pattern has been hit by a great impact,from the traditional store-style consumption to the hybrid consumption under the line-on-line,and,The high efficiency and convenience of the online transaction brought by the convenient popularization of the Internet and the logistics greatly facilitate the entry of the Chinese luxury market into a brand-new development stage,and the purchase behavior of the consumers' luxury consumption is also developing towards the people,the normal and the large-scale trend,and the luxury brand is becoming smaller,The trend of brand daily and consumption normalization.At the same time,the consumer group is from the rich aristocracy to the mass affluent,to the middle class,the white collar,and even to the ordinary family.It can be seen that the Chinese society entering the new era is in a multi-dimensional,multi-dimensional development of the consumption upgrading stage,the people's life is obviously improved,the market economy is becoming more and more prosperous,the pursuit of the good life and the quality life is more obvious,and the development of the quality and the cultural consumption direction is more obvious.Third,there are two main types of consumer behavior motivation in Chinese luxury market,one is social-oriented display,face awareness,conformity and open self-awareness and other consumer motivations.Another is a personal-oriented self-gift or interpersonal gift,self-worth or attribution,pleasure and impulse,and other consumer motivation.Among them,the intrinsic conspicuous motivation of consumers is mainly reflected in the "upstart" consumer group in the second and third-tier urban rich class,the proportion of this kind of consumer group is higher,and the ability to buy luxury goods is very strong.But the lack of luxury consumption quality and exquisite pursuit.In addition,Chinese luxury consumption "face awareness" and status-based consumption phenomenon is very prominent.Moreover,impulse consumption has become the main factor in the consumption motivation of the current luxury goods market,which is closely related to the current socio-economic development and consumer consumption mode of "post-90s" consumers.Finally,through the empirical analysis and experimental test,it can be seen that the influencing factors of Chinese luxury consumers' purchase behavior difference have generality and particularity.Among them,women are more significant than men in buying sex for luxury goods,and the difference is significant at different ages.No matter from the macro consumption environment or micro-consumption behavior characteristics,the post-90 s women have become the core group of Chinese luxury consumers,compared with the consumers of post-50 s,post-60 s and post-70 s,are almost half more likely to choose luxury goods,and there are significant differences in access channels of consumer information among different ages.The phenomenon of "crowd-following consumption" brought about by "moments" is obvious,and there are significant differences in consumer consumption behavior with different educational levels,but it has no effect on the choice of luxury brands.In addition,according to the frame effect theory in behavioral economics,female,highly educated or post-90 s consumers show more significant frame effects,and there are consistent brand differences and risk preference differences.It is worth mentioning that luxury consumers face different positive frameworks,negative frameworks and risk frameworks have produced significant differences in choice behavior,which is even more evident among post-90 s consumers.In short,whether from a statistical description or a metrological test,our conclusions confirm the significant impact of the framework effect on consumer behavior differences,as well as male and female consumers,consumers of different ages,Consumers with different levels of education will have different choices or purchase preferences for information under different frameworks.In addition,household income levels,population size,family well-being and economic expectations for the future significantly affect consumer luxury purchases at the household level.In particular,there is a positive relationship between household income and family well-being and the purchase of luxury goods,which means that consumers,while pursuing material consumption,are paying more and more attention to the realization of their needs for a better life and their self-worth.And in the empirical experience to verify.