The Influence of Social Norms, Perceived Value, and Price Sensitivity on the Purchase Intention of Second-Hand Luxury Goods

Abstract

In recent years, the second-hand luxury market has experienced rapid growth, with increasing consumer acceptance. However, the key factors influencing consumers' purchase intentions still require further exploration. The study uses a questionnaire survey method to collect data, with 427 valid responses obtained. SPSS was used for data analysis, and regression analysis was employed to test the research hypotheses. The results indicate that social norms have a significant positive impact on consumers' purchase intentions for second-hand luxury goods. Moreover, social norms positively influence perceived value, which in turn significantly enhances purchase intention. Furthermore, perceived value serves as a mediator between social norms and purchase intention, meaning that social norms indirectly strengthen purchase intention by increasing perceived value. Additionally, price sensitivity plays a moderating role in the relationship between social norms and purchase intention, amplifying their impact. This study suggests that brands and platforms should leverage social media, opinion leaders, and other channels to shape positive social norms and strengthen consumer recognition. Additionally, improving product quality, transaction security, and after-sales service could increase perceived value. For consumers with varying levels of price sensitivity, businesses could adopt transparent pricing, promotional strategies, or installment payment options to reduce price concerns and encourage purchases.

Keywords: social norms, perceived value, price sensitivity, second-hand luxury purchase intention