The role of hedonism as a mediator of the relationship between materialism & bandwagon effect on the purchase intention of luxury products

The demand for luxury goods has risen among Gen Y (millennials) and Gen Z consumers. As a result of this trend, brands and businesses have developed effective strategies to engage and captivate this growing audience. Given this group's digital orientation and heavy influence of social media, one specific application has notably gained immense popularity within this generation: TikTok. Four nationalities concentrate the highest number of active users on the platform, and two of these countries were studied in a cross-cultural approach by utilising Hofstede’s cultural dimensions of collectivism and individualism. Moreover, Brazil and the United States are not only leading economies in the luxury industry, but they account for almost 200 million active users on TikTok. Thus, within the context of TikTok and luxury goods, this study examined the mediating role of hedonism on the relationship between materialism and purchase intention of millennials and Gen Z consumers, as well as bandwagon and purchase intention of millennials and Gen Z consumers. Furthermore, it explored the moderating role of nationality (Brazilians vs US Citizens) on the relationships between materialism, hedonism, and bandwagon with purchase intention of millennials and Gen Z consumers. Primary data were collected through an online questionnaire in Qualtrics with 457 valid respondents and analysed on SPSS and the MACRO process extension. The research findings revealed that materialism, bandwagon, and hedonism positively influence luxury products' purchase intention of Millennials and Gen Z consumers within TikTok. Moreover, the results indicated that hedonism partially mediates the relationships of bandwagon and materialism on luxury products' purchase intention of Millennials and Gen Z consumers within TikTok. Lastly, the study demonstrated that nationality moderates the three relationships between materialism, hedonism, and bandwagon on purchase intention. Further, the findings discovered that the United States, a country characterised by an individualist culture, scores higher on materialism, hedonism, and bandwagon than Brazil, a country characterised by a collectivist culture. This research can help marketers and marketing managers better understand millennials and Gen Z consumer behaviour within the TikTok platform. In addition, it enhances the current literature on the role of social media in influencing consumers and how they behave and their intent to purchase luxury goods.