Black consumers perceptions towards luxury brands in South Africa
DOI:
https://doi.org/10.20525/ijrbs.v10i4.1135Keywords:
luxury brands, black consumers, uniqueness, rarity, functional value, financial valueAbstract
The paper determines the black consumers’ perceptions towards luxury brands in South Africa. The purchase of luxury brands has been on the rise locally and internationally. Global brands have been investing in SA by expanding to the region. The demand for luxury brands has also increased over the past decades. In SA, the middle-class group has also increased, particularly the black middle class which increased the market for luxury brands. To achieve the objectives of the study, a survey was conducted among black consumers in Thohoyandou, Venda, South Africa. Data were collected by two fieldworkers who intercepted shoppers visiting a regional mall in the area. Data were analyzed using SPSS 25. The descriptives, factor analysis, and ANOVA were analyzed to achieve the objectives of the study. The findings of the study reveal that black consumers are more influenced by the rarity and uniqueness of the brands followed by the financial and functional values of the brands. Black consumers’ perceptions towards luxury brands were found to differ across age and income groups but did not differ across gender and education levels. Organizations targeting black consumers must design brands that are rare and unique and ensure that brands deliver the financial and functional values desired by black consumersDownloads
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