HOW DO SOCIAL VALUE, ENVIRONMENTAL VALUE AND PERCEIVED RISKS AFFECT PURCHASE INTENTION TOWARDS SECOND-HAND LUXURY GOODS? AN EMPIRICAL STUDY OF CHINESE CONSUMERS

Abstract

Abstract: Over the past decade, driven by rapid economic growth and shifting consumer attitudes, China has emerged as the world's largest luxury goods market. This expansion in luxury consumption has, in turn, fostered a substantial supply and demand for second-hand luxury goods. A thorough literature review indicates that current research on second-hand luxury goods primarily focuses on international markets, whereas the development of this industry in China is still in its early stages. This study focuses on consumers in Shanxi Province and conducts a quantitative analysis of their perceived social value, environmental value, and perceived risk associated with second-hand luxury goods, as well as their willingness to purchase these items. The results indicated that social value has no significant influence on customers' purchase intentions. In contrast, environmental value positively influences purchase intentions, while perceived risk has a negative impact on the purchase intention. The findings provided theoretical insights and practical guidance for the development of the second-hand luxury goods industry.