tailieunhanh - The relationships between big-five personality traits and the choice of luxury product attributes by Vietnamese consumers

This paper, in addition, particularly stresses that consumers who register in extraversion, openness, and agreeableness are the target audience for luxury branded products in Vietnam. | 94 Ho Huy Tuu / Journal of Economic Development, 24(3), 94-115 The relationships between big-five personality traits and the choice of luxury product attributes by Vietnamese consumers HO HUY TUU Nha Trang University – tuuhh@ ARTICLE INFO ABSTRACT Article history: This study tests and discusses the relationships between personality traits in the Big-Five Model and consumers’ choice of luxury attributes (CLA) associated with branded products in Vietnam. A total of 500 adult consumers are interviewed by a self-administrated questionnaire in three cities in Vietnam. Because 33 cases are eliminated for missing values, the data of 467 consumers are employed in this study. Structural equation modeling is also adopted to evaluate the reliability and validity of the constructs and test hypotheses. The results indicate that while extraversion, openness, and agreeableness have significantly positive effects, conscientiousness and neuroticism have significantly negative impacts on the choice of luxury attributes. Thus, Vietnamese consumers with different personality traits have different preferences toward luxury products. The extra value of the paper is to provide deeper insights into how and why each personality trait can link with the choice of luxury attributes. This paper, in addition, particularly stresses that consumers who register in extraversion, openness, and agreeableness are the target audience for luxury branded products in Vietnam. Received: Feb., 21, 2017 Received in revised form: Apr., 13, 2017 Accepted: June, 30, 2017 Keywords: personality traits the choice of luxury attributes branded products Ho Huy Tuu / Journal of Economic Development, 24(3), 94-115 95 1. Introduction The “democratization of luxury” has spread all over the world (Truong et al., 2008), making luxury consumption more affordable and accessible to new consumers including those in such an emerging market as Vietnam (Tuu et al., 2017). While most studies in .