Compulsive Buying Behavior of Indian Consumers

Abstract

Purpose: The current study is done with an objective to find the various factors which influence people for compulsive buying. Design/Methodology/Approach: Confirmatory factor analysis was used on a general group in this study. Factor Analysis was conducted to derive the factors which influence people to go for compulsive buying behavior. Findings: Basically four factors were identified which influence compulsive buying behavior which are Impulsive nature, Self-obsession, Emotional Stability and Materialism. According to the findings, there is a positive association Compulsive Buying Behavior of Indian Consumers. Further, it can be stated that people in possession of materialist objects tend to spend more as they are presumed to display their status, power in the society. Self-Obsession is another major factor which influence people for compulsive buying. Research Implications: This study has implications for people, retailers and policy makers too. Through this study, common people may understand why do they/their mind reflect compulsive buying behavior and may take appropriate measures to control the same. Retailers may understand consumer mindset in more detail and may craft messages/promotions to attach the respective string of the target consumers. Policy Makers can make some effective education strategies to help people for using their funds wisely.