Limitations and Future Research
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Although the aim of the investigation has been explored the relationship between luxury consumers, and how their CSR awareness may influence their purchase intention towards lab-grown diamonds. Yet, some aspects related to this particular research area may defend more in-depth attention when it comes to future research. Below demonstrate further discussions of the research limitations and future research recommendations.
In terms of concepts applied in this study, is obviously based on a general definition of both luxury and sustainability and does not refer to a particular country. Although it is interesting to analyse a large sample. However, as luxury cultures are existing throughout the world (Kapferer and Bastien, 2012) yet every country and its culture may show a very different result in this research. For Example, in the country like China and Russia, their relationship to money is different and parent tend to like the symbol of success. Therefore, young successful entrepreneurs in China are expressing a high volume on their luxury spending, they may have a different attitude towards lab-grown diamond than German or British. Because of these limitations, an extension of this research should cover different countries that show extremely different cultural and economic parameters. In addition, a cross-cultural research of attitudes towards sustainable lab-grown diamond consumption might expose significant differences between collectivist and individualist cultures.
Another limitation of this research is that this study does not focus on consumers’ income segments. yet, the price points of diamonds are very various. Thus, further investigation into the different income group may also reveal an interesting finding, which might help the marketing manager in the diamond jewellery industry to be able to conduct more precise marketing strategies, which will be able to identify the biggest potential consumer segments for the lab-grown diamond market.
Another significant limitation of this research is our sample, the respondents were selected mix with luxury consumer and consumer in general, is hard to measure the if respondents are aware of the ethical diamond issues. They are not diamond expert neither has lots of information or in-depth understanding regards to lab-grown diamonds, as the lab-grown diamonds has just recently introduced to the market. Therefore, further study may conduct a research focus on the actual diamond jewellery consumer, who has a certain level of knowledge with diamonds and the industry in order to have a specific and in-depth understanding the market potential of sustainable lab-grown diamond jewellery.
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