Luxury in the information and communication technologies industry

As the retail market for information and communications technology (ICT) becomes increasingly competitive, managers and marketers face the challenge of finding ways to motivate consumers to pay more for ICT products. Studies have examined the concept of luxury in the context of retail markets; however, few have investigated how the concept applies to the ICT market. This empirical study shows that from the consumer´s perspective, high-priced ICT products fall into at least two categories-luxury products and high-end products. Consumers who adopt perfection-seeking, novelty-seeking, and prestige-seeking shopping styles tend to prefer a luxury product; in addition, the consumer who desires uniqueness is likely to adopt the prestige-seeking shopping style. Consumers who adopt innovation-seeking and perfection-seeking shopping styles tend to prefer a high-end product; innovation-seeking customers are more likely to pay attention to utilitarian values and accept new brands. This study aims to help ICT firms develop and market their products.