A Glittering Market: The Enhancement of Purchase Intentions of Consumers to Buy Diamond Jewelry in Phnom Penh, Cambodia
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Purpose: This paper aims to examine key factors influencing consumers’ purchase intentions toward diamond jewelry in Phnom Penh, Cambodia. The conceptual framework determines the relationship between perceived uniqueness, perceived hedonism, subjective norm, conspicuous value, reference group influence, attitude, individual luxury value perception, and purchase intention. Research design, data, and methodology: The population is based on 500 customers purchasing diamond jewelry from four big local jewelry stores in Phnom Penh. The sampling methods are judgmental, quota, and convenience sampling. Before the data collection, the Item Objective Congruence (IOC) Index and Cronbach’s Alpha of the pilot test (n=50) were conducted the ensure validity and reliability. The data analysis is made through confirmatory factor analysis (CFA) and structural equation modeling (SEM). Results: The results revealed that perceived uniqueness, hedonism, subjective norm, and conspicuous value significantly influence attitude. Reference group influence has a significant influence on individual luxury value perception. Furthermore, attitude and individual luxury value perception significantly influence purchase intention. Conclusions: This research can contribute to diamond jewelry business owners and marketers understanding the motivation behind customers’ purchasing intention and improving the attributes of products and services to enhance market expansion and sales revenue.
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