- Title
- Factors influencing consumer buying behaviour of luxury goods among the LGBTQI+ market segment
- Creator
- Monakali, Samkele
- Subject
- Luxuries -- Marketing
- Subject
- Luxury goods industry
- Subject
- Consumer behavior -- South Africa
- Subject
- Consumer profiling Gay consumers -- South Africa
- Date Issued
- 2024-04
- Date
- 2024-04
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10948/65230
- Identifier
- vital:74061
- Description
- This study delves into the factors shaping the purchasing behaviour of luxury goods within the LGBTQI+ market segment in South Africa. Despite being a substantial and diverse market with distinctive consumer preferences, limited research exists to understand the specific motivations driving the LGBTQI+ community's luxury product purchases. The growing acceptance of the LGBTQI+ community has not only increased their visibility but has also led to heightened consumer spending within this segment. The Pink Economy, a term coined to describe the economic power of the LGBTQI+ community, highlights their substantial financial contributions across various sectors. This encompasses businesses and industries customized specifically for LGBTQI+ consumers, ranging from essential goods to luxury items like those found in fashion, travel, and entertainment. Against the backdrop of the expanding luxury brand product category and the increasing expenditures of the LGBTQI+ market segment, particularly in the luxury sector, there arises a need to explore strategies for attracting a more significant share of LGBTQI+ consumers. Diverse motivations drive the purchase of luxury goods within this segment, with individuals from various demographics having distinct perspectives on and connections to luxury brands. To investigate these factors, the study targeted individuals who identify as queer or non-heterosexual. Specifically, those who identify as lesbian, gay, bisexual, transgender, queer, intersex, and other sexual orientations such as pansexual and Two-Spirit (LGBTQI+), reside within South Africa and were between the ages of 18 and 65. The Taro Yamane formula was used to determine the sample size needed for the study. It identified a required sample size of 400 respondents, and the study ultimately received 428 responses. The data was analyzed using Statistical Package for the Social Sciences (SPSS) 28, and Structural Equation Modelling (SEM) using Analysis of Moment Structures (AMOS) 28, aimed to reveal insights into the relationships between variables. The findings highlight a significant and positive correlation between psychological factors
- Description
- Thesis (MCom) -- Faculty of Business and Economic Sciences, School of Management Sciences, 2024
- Format
- computer
- Format
- online resource
- Format
- application/pdf
- Format
- 1 online resource (xii, 172 pages)
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
- Rights
- All Rights Reserved
- Rights
- Open Access
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Collections
NMU School of Management Sciences
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Monakali, S April 2024.pdf | 3 MB | Adobe Acrobat PDF | View Details Download |