Global convergence of consumer spending: Conceptualization and propositions

Abstract

The convergence versus divergence debate has persistently presented a puzzle in the scholarly literature. Forces of globalization created a wave of convergence. Yet, the recent worldwide events have changed the course of globalization, slowing its seemingly unavoidable forward direction. It is, therefore, incumbent upon international business scholars to reexamine the convergence versus divergence debate in the contemporary world economy. Despite the central role that global convergence plays in international business decisions, the literature is lacking a conceptualization of the convergence construct in terms of consumer spending behavior. Offering a new perspective derived from the convergence-divergence-crossvergence (CDC) framework and the coevolution theory, the authors define and conceptualize the convergence construct associated with consumer spending behavior. The proposed conceptual framework is comprehensive, offers refinements to the convergence phenomenon, and leads the way for further development of new theories in the international marketing domain.