This study examined how perceived scarcity influences consumer purchase decisions in the context of preorder fashion, with a focus on the mediating role of purchase pressure and the moderating role of hedonic shopping value. A survey was conducted with 300 consumers who had previously purchased fashion products through preorder platforms in Korea. The key constructs –limited time/quantity scarcity, product scarcity, time pressure, financial pressure, purchase delay, purchase intention, and compulsive buying– were validated using exploratory and confirmatory factor analysis. Structural equation modeling showed that perceived scarcity significantly increased purchase pressure. Specifically, limited time/quantity scarcity heightened time pressure, while product scarcity heightened both time and financial pressure. In turn, time pressure positively influenced both purchase intention and compulsive buying, whereas financial pressure led to increased purchase delay. Mediation analysis confirmed that time pressure fully mediated the relationship between limited time/quantity scarcity and both purchase intention and compulsive buying, while product scarcity exerted both direct and indirect effects, particularly on compulsive buying. A multigroup analysis further revealed that hedonic shopping value did not moderate the overall structural model but had significant effects on specific paths. Consumers with high hedonic shopping value were more sensitive to product scarcity and experienced greater purchase pressure than those with low hedonic shopping value. These findings offer valuable insights for marketers who employ scarcity tactics in preorder strategies and highlight the importance of psychological mechanisms in shaping consumer behavior. Theoretical implications and future research directions are also discussed.

The luxury market keeps growing in the global world. Marketing scholars focus on Chinese luxury consumers, because Chinese consumers show different characteristics comparing to foreign consumers. Personal hedonic value cannot be ignored among factors which influence consumers’ purchase intention. After the survey on 128 consumers who have luxury purchasing experience, the study finds out that as the two of three sub-dimensions of hedonic value, self-gifting and self-pleasure can significantly influence luxury perceived value, but self-enrichment has nothing to do with it. Luxury perceived value can directly affect consumers’ purchase intention on luxury products. But this relationship can be negatively moderated by interpersonal effects. At the end, managerial implications and theoretical contributions are discussed.