Dynamics of Consumer Purchase Decision Making on Premium Products in Economic Crisis Period

Abstract

The global economic crisis has impacted consumer behavior in various aspects, including decisions to purchase premium products. Despite the uncertain financial situation, the consumption of premium products among Indonesian urban consumers remains stable and even increases. This study aims to analyze the dynamics of consumer purchasing decisions towards premium products during the crisis, as well as identify the psychological, social, and economic factors that affect them. The method employed is a qualitative approach with a phenomenological design, involving in-depth interviews, questionnaires with premium brand employees, and observation of consumer behavior in both digital channels and physical stores. The results showed that purchase decisions were more influenced by emotional factors such as self-reward, self-identity, and storytelling from brands. Communication strategies that emphasize emotional value and personalization have been proven more effective than traditional price promotions. The conclusion of this study suggests that emotional loyalty, brand image, and personal experience play a central role in premium product purchase decisions during times of crisis, indicating that brands need to adopt a more humane and meaningful approach to communication.