Abstract
Consumption is an important part of economic development, and households’ cognition and emphasis on the social hierarchy affect the total amount, types and styles of consumption significantly. This paper summarizes the social significance of commodities, the development of social hierarchy with the corresponding psychology of consumption, and the cause and purpose of individual's conspicuous consumption. This paper highlights the importance of the relationship between social hierarchy and households’ consumption, and provides a useful reference for understanding consumers' psychology.
Highlights
Consumption is a substantial part of economic development and routines for individuals
We think that the study for the influence of social hierarchy on consumption is a meaningful work for sociology and economics
Lee and Shrum (2012) further present that when individuals perceive they are excluded by the group invisibly, they tend to purchase commodities with larger brand logo, that is a specific form of symbolic consumption, conspicuous consumption
Summary
Consumption is a substantial part of economic development and routines for individuals. The objects of consumption are mainly goods and services, which are gradually changed with the different phases of economic development and social advancement. When the group has the sense of independence, it would try to establish the difference with other groups by holding specific objects and form the behavior of identity building, which resulting the hierarchical characteristics originating from the purpose of conspicuousness and the group characteristics different from other groups. At this point, consumption makes a profound impact on the social hierarchical stratification and group division, and gives the meaning of symbol value for the commodities, which is secretly linked to the identity and wealth. We think that the study for the influence of social hierarchy on consumption is a meaningful work for sociology and economics
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