Purchase behavior toward luxury fashion brands during Thailand's economic recovery after the COVID-19 pandemic among generation Y consumers

Abstract

The objective of this research is to explore the purchase behavior toward luxury fashion brands among Thai Generation Y consumers during the economic recovery after the COVID-19 pandemic. The research utilized a qualitative approach to gather information from 10 key informants aged 31 to 42, residing in Thailand and spending more than 500,000 Thai baht annually on luxury fashion products. The findings indicate that Thai Gen Y consumers are active followers of economic news and current events, as they consume news on a daily basis and discuss it with their social circle. However, they tend to avoid expressing their opinions or participating in online discussions. They maintain a neutral sentiment toward the current state of the Thai economy, but they are optimistic about its future. Their financial and economic status is better than the previous year, which means that their spending on luxury goods is not substantially affected by the economy. They possess significant purchasing power and are willing to spend more if the product is worth the investment in terms of design and quality. They tend to make impulsive purchases, and they do not require a specific occasion or prior research to shop. Moreover, their motivation to buy is driven by their personal obsessions and desires.