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Engaging the gamers: what motivates gamers to purchase virtual goods

Virtual goods market generates more than $15 billion in annual revenue globally and is rising rapidly. We demonstrate how and which extrinsic and intrinsic motivations influence gamers to engage and purchase virtual goods. In examining the interactive effects of individual- and group-level variables, we uncover the social influence dynamics that drive virtual purchase behaviour. Thus, we answer if the virtual economy-based purchase behaviour demonstrates an extension of real-world behaviour.

  • Beyond Bling

Beyond Bling: Comparing Conspicuous Consumption in Today’s Society

Funded by British Academy, I led project with Professor Keyoor Purani at IIMK. The project looks at the influence of economic conditions on contemporary conspicuous consumption tendencies among consumers in the UK and India. The project findings demonstrate the variations between the British and Indian consumers showing how socio-economic market conditions influence conspicuous consumption.

Massification of Luxury: the Chinese Invasion

[podcast]http://www.pauravshukla.com/podcast/luxurychina.mp3[/podcast]

Analysts world over have been writing about luxury consumption among the Chinese consumers. Few have also discussed the issues of Chinese luxury brands aimed at global consumers including ‘Shanghai Tang’ and ‘LaVie’. However, there is little discussion on how slowly but steadily Chinese entrepreneurs are acquiring or taking over Western luxury brands. This post is an attempt to highlight that. luxury in china - an old chinese sculpture

For the last three or four centuries the Europeans have led the luxury market. The production and marketing of [Read Story]

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Werther effect (the power of negative news)

The story behind the Werther effect is highly intriguing and chilling. In 1774, the giant of German literature, Johann Wolfgang von Goethe, published a novel titled The Sorrows of Young Werther (German: Die Leiden des jungen Werthers). Finished in six weeks of intensive writing during January–March 1774, the novel instantly made the 24-year-old Goethe one of the first international literary celebrities. The novel presents an autobiographical account of a young artist named Werther. The novel which ends with the protagonist commits suicide had a remarkable impact in terms that it sparked a wave of emulative suicides across Europe. So powerful [Read Story]

Invite: Status Consumption: A Journey Through Time & Cultures

  Inaugural Professorial Lecture entitled 'Status Consumption: A Journey Through Time & Cultures' Thursday 3 April 2014 6pm at GCU London campus at 40 Fashion Street, London, E1 6PX Overview of Professorial Lecture The modern pursuit of personal identity and style through consumption is now widely recognised and is actively encouraged by marketers. In fact, consuming for status has become a defining element of new consumerist societies. However, status directed consumption is not a recent phenomenon. From the extravagance and excesses of ruling elites in earlier societies to the new business maharajas, status directed consumption behaviour has been well observed and documented. However, [Read Story]

Luxury marketing: adapting value propositions

How do you convince a consumer to buy luxury products?

This is one of the very important questions asked by managers involved in marketing luxury goods. Luxury consumption – especially one related to conspicuousness – seem to have changed dramatically in the last few months with consumers clearly avoiding any conscious attempt to signal wealth.

Many observers have pointed to consumers’ attempt of avoidance stating the term ‘discreet consumption’; ‘stealth consumption’ and so on. While the phenomenon is observed all around the important question is ‘why are the luxury consumers [Read Story]

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