As the standard of living and quality of life continuously improved, consumers' ability to purchase luxury goods continued to improve, and China became the world's largest luxury consumer market. According to the forecasts of related organizations, th...
As the standard of living and quality of life continuously improved, consumers' ability to purchase luxury goods continued to improve, and China became the world's largest luxury consumer market. According to the forecasts of related organizations, the size of the luxury market in China will be 750 billion yuan in 2023 and sales in the luxury market in China will finally be 956 billion yuan in 2022, accounting for 38% of the global luxury market. It can be seen that the development prospects of the Chinese luxury market are wide. The used luxury market has entered a period of rapid growth as the epidemic has affected the luxury proxy purchase channel and the price hikes of luxury brands overlap. China's used luxury consumers are characterized by young people, which is internally related to the economic power of young people and consumer sentiment seeking generational change. Used luxury goods have the greatest advantage of being able to purchase more than half or 70% of new luxury goods at low prices, so more and more consumers, especially young people, the main group of current consumption, have become the main consumers of used luxury goods. Although the size of used luxury goods in China is currently relatively large, the market is still in its infancy and has great development potential. Chinese consumers are not entirely dependent on individual will when they consume, but are influenced by other aspects. Used luxury goods are complex and require consumers to be more careful when purchasing products. When purchasing a product, the consumer's perception of their own product plays an important role in consumer purchase decision-making, and the merchant's reputation also influences the consumer's product purchase. In this context, it is of theoretical and practical significance to study the influence of cognitive value on the purchase behavior of young people by introducing the merchant's reputation as a control variable.