Consumer Buying Behavior towards Luxury Branded Durable Goods in Patna City, Bihar, India

Abstract

The luxury goods market in India with an estimated value of USD 10.01billion in the year 2024 is currently witnessing a marketable increase in demand of luxury-branded durable goods especially in Tier II urban centres like Patna in Bihar. This significant change in consumer consumption patterns has been contributed by the increased household incomes, changing lifestyles, as well as increased exposure to high quality brands. This paper seeks to examine consumer buying behaviour as relates to luxury-branded long-lasting commodities within the Patna City, and outlin how consumer purchase intention is influenced. A sample population size of 300 consumers in the city was used to collect primary data using a structured questionnaire on a five-point Likert scale. The cross-sectional research design was taken and stratified random sampling methods were used to select households that belonged either to the middle- and high-income brackets, determined by a minimum monthly income limit of 20,000. Data were gathered and analyzed with the application of SPSS software that included descriptive statistics, reliability analysis, exploratory factor analysis, correlation analysis, and multiple regression analysis. The empirical results show that social influence becomes salient as the most influential factor in purchase intention followed by brand perception, perceived quality, and economic factors. These findings highlight the aspirational nature of luxury consumption among the new urban markets and provide useful information to luxury brands that are hoping to expand their presence in Tier II cities.