Do Luxury Brands’ CSR Efforts Pay Off?: A Mediation Effect of Perceived Price Fairness
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Luxury brands engage in various CSR initiatives in responding to social expectations for them to contribute to social welfare. However, the effectiveness of such CSR activities of luxury brands in terms of creating value for the brands is still questionable. A conflict between self-indulgence of luxury goods and self-transcendence value of CSR makes CSR activities of luxury brands be seen hypocritical. In contrast, luxury brands’ CSR efforts can be considered as their pursuit of nobles oblige, which may grant ‘a license’ to purchase such high-priced products for consumers. The fact that part of the substantial spending for luxury products is used for good causes may reduce the guilt feeling of the consumers and thus help them justify their luxury consumption. Despite the conflicting theoretical views, there are only limited empirical studies of how luxury brands’ CSR influence consumer attitudes toward the brand. This study examines how luxury brands’ CSR activities influence brand attitudes of consumers. It finds that CSR activities of luxury brands positively affect brand attitude but only through improvement of perceived price fairness. It also shows that CSR activities for primary stakeholders (PCSR) enhances consumer perceived price fairness of luxury goods more than CSR activities for non-primary stakeholders (NPCSR). With the findings, this study shed light on the effectiveness of luxury brands’ CSR endeavors. It also provides the industry with meaningful practical implications.
Abstract
Luxury brands engage in various CSR initiatives in responding to social expectations for them to contribute to social welfare. However, the effectiveness of such CSR activities of luxury brands in terms of creating value for the brands is still questionable. A conflict between self-indulgence of luxury goods and self-transcendence value of CSR makes CSR activities of luxury brands be seen hypocritical. In contrast, luxury brands’ CSR efforts can be considered as their pursuit of nobles oblige, which may grant ‘a license’ to purchase such high-priced products for consumers. The fact that part of the substantial spending for luxury products is used for good causes may reduce the guilt feeling of the consumers and thus help them justify their luxury consumption. Despite the conflicting theoretical views, there are only limited empirical studies of how luxury brands’ CSR influence consumer attitudes toward the brand. This study examines how luxury brands’ CSR activities influence brand attitudes of consumers. It finds that CSR activities of luxury brands positively affect brand attitude but only through improvement of perceived price fairness. It also shows that CSR activities for primary stakeholders (PCSR) enhances consumer perceived price fairness of luxury goods more than CSR activities for non-primary stakeholders (NPCSR). With the findings, this study shed light on the effectiveness of luxury brands’ CSR endeavors. It also provides the industry with meaningful practical implications.
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