The Influence of Frequent Price Appreciation on Chinese Consumers’ Psychological Motivations for Purchasing Luxury Goods

The research background of this thesis is based on the rapid economic development of China, where the desire to purchase luxury goods is increasingly strong. More and more people are choosing to buy luxury goods to improve their living standards and symbolize their social status. Therefore, we decided to divide the research into several modules to study the multi-faceted positioning of luxury goods. The topics we studied include the market background of luxury goods in China, which includes the concept of luxury goods and the current status and forecast of the Chinese luxury goods market. The second research area is the reasons for the frequent price increases of luxury goods in China, including both objective and subjective reasons. The final research area is the psychological factors behind Chinese consumers’ consumption of luxury goods, including the desire to display social status and personal achievement, the pursuit of quality and enjoyment of life, and following fashion trends. Our team members completed this research report through everyone’s understanding of luxury goods and Internet search, and the research result is that luxury goods have great social significance and commodity value, which can highlight social status and fashion trends. More and more young people have the tendency to pursue luxury goods.