An Empirical Study Of Consumer’s Willingness To Pay Price Premium For Women’s Dress Brand

With the development of society and economy, the competition of women’s dress brands is becoming more and more intense. Different from the early stage, the competition of women’s clothing gradually become the competition of brands while not the quality and price. The brand is not only the product label, but also a kind of intangible assets with economic value. China is a big country of clothing, but the Chinese clothing brands are not strong enough. Although many foreign brands are made in China, but when their brand products appear in retail stores, the price is much higher than the local brands. The reason is that foreign brands have a higher brand added value. Consumers are willing to pay more for the brand price, which means that consumers will pay price premium.This paper studies the factors that influence consumers’willingness to pay price premium for women’s dress brands through the research of domestic and foreign relevant literature. This paper also develops a research model based on the content of brand satisfaction, brand loyalty, brand trust, customer perceived value and uniqueness. This paper collected date through questionnaires both from customers consumed into the stores and online pushing for VIP members. Statistical analysis was performed using SmartPLS software to verify hypothesis model is established.Through this study, we found that the brand trust, customer perceived value of the various variables have a significant positive impacts on brand satisfaction; social value and emotional value have a significant positive impact on brand loyalty. Brand satisfaction positively influences brand loyalty; brand satisfaction and brand loyalty have a significant positive effect on the consumers’ willingness to pay price premium. According to the factors that affect consumers’ willingness to pay the premium, this paper gives some optimization suggestions based on the current situation of the Yijia brand.