Collective influence: How the collection mindset shapes consumer spending and price perceptions

Abstract

AbstractCollection has become a significant form of consumption in consumers' lives. However, to date, our understanding of the downstream behaviors associated with collection consumption remains limited. Could collection have a more extensive impact on consumers' subsequent behaviors? Across four experiments and one field study, results indicate that adopting a collection mindset can shift consumers' perceptions of price changes, influencing their subsequent consumption. This effect arises, because when consumers possess a collection mindset, they lean towards hedonic (as opposed to utilitarian) evaluations of objects. Consequently, such consumers are less sensitive to price fluctuations, leading them to spend more in subsequent unrelated purchases. Furthermore, two studies demonstrate that the influence of collection consumption on price sensitivity is moderated by the nature of the collection and consumers' motivations for collecting. Given the pervasive role of collection consumption in consumers' lives, this research offers crucial theoretical and practical insights.