The effects of openness to experience on paying more in luxury brands

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dc.contributor.authorHabiboğlu, Özge
dc.contributor.authorÖzhan, Şeniz
dc.contributor.authorUslu, Aypar
dc.date.accessioned2025-04-06T12:21:56Z
dc.date.available2025-04-06T12:21:56Z
dc.date.issued2024
dc.departmentTekirdağ Namık Kemal Üniversitesi
dc.description.abstractThe current study explores the factors that affect consumers’ interest in paying premium prices. For this purpose, the effects of the buyer’s personality traits of openness to experience and perceived value variables on willingness to pay price premium were examined. The data were collected through face-to-face questionnaires on consumers, who were selected randomly, in shopping malls located in Istanbul, Turkey, that featured luxury boutiques. 342 questionnaires were conducted, and the data were analysed using a structural equation modelling method. According to the findings, the personality trait of openness to experience significantly affects consumers’ luxury brand value perceptions and the perceived luxury brand value accompanied by their higher price tags. The most important determinant of willingness to pay such premium prices for brand names among Turkish consumers is a symbolic one. However, it was found that openness to experience does not directly affect willingness to pay price premium. The study’s main contribution is to investigate personal traits of luxury consumption behaviour. In this respect, this study aims to fill an important gap in the current literature. © 2024 Inderscience Enterprises Ltd.
dc.identifier.doi10.1504/IJECRM.2024.142427
dc.identifier.endpage274
dc.identifier.issn1750-0664
dc.identifier.issue3-4
dc.identifier.scopus2-s2.0-85208374025
dc.identifier.scopusqualityQ3
dc.identifier.startpage254
dc.identifier.urihttps://doi.org/10.1504/IJECRM.2024.142427
dc.identifier.urihttps://hdl.handle.net/20.500.11776/17035
dc.identifier.volume14
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherInderscience Publishers
dc.relation.ispartofInternational Journal of Electronic Customer Relationship Management
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_Scopus_20250406
dc.subjectluxury brands
dc.subjectopenness to experience
dc.subjectperceived value
dc.subjectpersonality traits
dc.subjectwillingness to pay price premium
dc.titleThe effects of openness to experience on paying more in luxury brands
dc.typeArticle

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