The Driving Powers in Consumer Behavior and the Psychological Subtleties of the Luxury Market

Enxhi MARKU1[1], Erion SHEHU2
1Faculty of Economics, LOGOS University College
2Agricultural University of Tirana

 

Abstract
This article examines the motivators lurking behind as the driving powers of consumer behavior. It skates on the main instigators pulling the strings behind the consumes’ decisions to purchase, the so-called ‘culprits’ of modern capitalism: compulsive and impulsive buying and hedonistic value shopping. The article then delves into the peculiar segment of the marketing industry, the luxury market which is a key facet of the world economy. The article tries to unravel the psychology behind the luxury consumption and how it has redefined itself in the 21st century. Lastly, the article tries to give a bird’s eye view of the luxury market in Albania and how it has evolved amid the ongoing pandemic in the world.

Keywords: consumer behavior, luxury, products, motivation, purchase, market
JEL Codes: M30

Related Articles