Research of Luxury Consumption by College Students

Abstract

In recent years, China's economy has rapid development and maintained stable, and the lives of our residents have been well improved. With the growth of the income level of our residents, the consumption level has also been continuously improved, and the overall quality of life has been improved; the rich groups in China are constantly developing and expanding, and the scale of high-asset net worth people is also expanding, which has become one of the reasons why more and more people pursuing luxury goods. In the consumer group that consumes luxury goods, it dominates Generation Y and Z, becoming the main market for luxury goods consumption. Young-generation has become a new pet for luxury goods and uses traditional luxury goods as a "social status symbol, showing off identity” is gradually reversed to the concept of "own personalized enjoyment and self-worth manifestation". This article will investigate the motives and effects of university students’ luxury consumption through quantitative analysis of questionnaires.