<p>Little is known about traditional luxury consumers’ perceptions of the fine-dining democratization and their purchase intentions. Based on the elaboration likelihood modeling approach, this study examines how the fine-dining democratization affects luxury consumers’ purchase behavior of Michelin-starred prepared dishes (MPD) through high-level (i.e., central pathways: actual self-image congruity and subjective norm) and low-level (i.e., peripheral pathways: perceived quality and perceived enjoyment) cognitive processing, as well as the impact of fine-dining involvement on purchase intention. This study uses both symmetric algorithm (i.e., PLS-SEM) and asymmetric algorithm (i.e., fsQCA) from an integrated perspective. PLS-SEM results indicated that fine-dining democratization was a significant and negative predictor of their actual self-image congruity, subjective norm, perceived quality, and perceived enjoyment, which then positively influenced purchase intention of MPD. Additionally, fine-dining involvement also directly and significantly affects the formation of purchase intention. Besides, the fsQCA results specified nine configurations for high and low purchase intention. This study not only provides a new theoretical perspective for ELM by regarding the fine-dining democratization as traditional luxury consumers’ identity threat, but also offers practical suggestions for Michelin-starred restaurant managers to reduce the decline in purchase intention caused by the fine-dining democratization.</p>