AbstractsEconomics

There must be a human factor to explain the lack of logic in luxury consumption. This irrational behavior is subject to explanation in this thesis, using values to map a framework where hopefully, conclusions can be drawn regarding how values drive people to consume luxury clothing. An individual’s luxury value perception and the motives for luxury clothing consumption are not simply tied to a set of social perspectives of displaying status, success, distinction and the human desire to impress other people, but also depend on the nature of the financial, functional and individual utilities of the certain luxury brand (Wiedmann et al., 2007). The values are divided into different dimensions with “sub-dimensions”: financial “price”, functional “usability, quality and uniqueness”, individual “self-identity, hedonic and materialistic” and social “conspicuousness, prestige and contextual”. The different values presented and the conceptualized framework might provide some insight into the matter of why we consume luxury goods and the underlying reasons behind consumer behavior, what values motivate us to consume and explain the paradox of luxury consumption.