Factors influencing luxury wine consumption behavior among Vietnamese consumers

The aim of this study is to measure the factors influencing consumers’ luxury wine consumption behavior. Employing the theory of planned behavior and consumption values, this study examines the impact of utilitarian, hedonic, and symbolic values, marketing efforts, and attitudes toward luxury wine consumption on consumers’ luxury wine consumption behavior. The quantitative research was conducted to test the research hypotheses, using data collected from 340 luxury wine consumers in Ho Chi Minh City, Vietnam. Partial Least Squares Structural Equation Modeling (PLS-SEM) was employed to analyze the data. The results indicate that utilitarian value, hedonic value, symbolic value, and reference group have a direct influence on the attitude toward luxury wine consumption behavior. Additionally, utilitarian value, hedonic value, symbolic value, marketing effort, and attitude toward luxury wine consumption behavior also have a direct impact on consumers’ luxury wine consumption behavior. The mediation role tests further reveal that the factors of utilitarian value, hedonic value, symbolic value, and reference group have an indirect effect on consumers’ luxury wine consumption behavior through attitude toward luxury wine consumption behavior. The study suggests that marketers in the wine business and distribution industry should consider utilitarian value, hedonic value, symbolic value, and marketing efforts.