Beyond the Bottle: Exploring Personal and Interpersonal Drivers’ Effect on Consumers’ Willingness to Buy Luxury Spirits

Abstract

Purpose: This study seeks to make a contribution to the underdeveloped academic field of luxury spirits. This will be done by investigating what underlying personal and interpersonal drivers influence willingness to purchase luxury sprits. Given the rapid growth of luxury spirits and the luxury market as a whole, this research hold significance for academics and manager alike.

Methodology: The study follows a quantitative method coupled with a deductive approach. In total, 200 online surveys were distributed through a paid online distribution platform with a 100% response rate. The data met the assumptions of normality allowing a multiple regression analysis to be conducted using SPSS Statistics. The survey included questions about personal and interpersonal drivers effect on willingness to buy luxury spirits.

Findings: The findings revealed that only two out of five drivers had a significant influence on willingness to buy luxury spirits. The interpersonal driver Veblen effect, and personal driver Hedonism had a positive effect on willingness to buy. In contrast, the interpersonal drivers Snob and Bandwagon effect and the personal driver self-identity did not have a significant impact among American participants.

Originality: This study makes valuable contributions to the unexplored field of luxury spirits, highlighting the importance of understanding underlying drivers that influence consumer behaviours. Furthermore, the study demonstrates that luxury goods may have different drivers same, encouraging future research to be conducted on product categories.

Implications: The authors suggest that relying on exclusive distribution is not a significant factor in influencing purchasing intentions. Furthermore, there is no connection between social conformity and the desire for self-identity in the context of alcohol consumption. This could be because of the negative connotations associated with alcohol. Instead, companies should focus on highlighting the symbolic values associated with status and communicate the personal pleasure derived from consuming a premium product.