PSYCHOLOGICAL CHARACTERISTICS OF LUXURY PURCHASE MOTIVATION AMONG YOUTH WITH LIMITED BUYING POWER

Abstract

Purpose. The article focuses on analyzing the psychological mechanisms that prompt young people to impulsively purchase luxury items despite financial constraints. Based on a theoretical analysis of contemporary Western sources on the issue, the authors synthesize social, cultural, and personal factors influencing such decisions. Methods. The analysis is based on a theoretical review of the literature, specifically on theoretical analysis and synthesis of studies in the field of consumer psychology, social comparison theories, and theories of personal identification. Results. The study identified that the primary factors of impulsive purchases are the desire for social recognition, media influence, low self-esteem, and the need for immediate gratification. Young individuals frequently resort to buying luxury items for a temporary enhancement of their social status or to compensate for internal dissatisfaction. Conclusions. Theoretical analysis and synthesis of various theoretical approaches and concepts revealed that impulsive purchasing of luxury items is a complexly structured phenomenon that involves both external (social, cultural) and internal (psychological, emotional) motives. Meanwhile, social factors such as status, prestige, and brand identity are key determinants of such purchases. The development prospects of this issue lie in integrating social, cultural, and psychological approaches to understand and effectively resolve the problems of impulsive purchases by contemporary youth. Special attention should also be given to aspects of mental health, as low self-esteem and feelings of inner dissatisfaction are critical factors that contribute to impulsive purchasing.