Luxury in Emerging Markets: An Investigation of the Role of Subjective Social Class and Conspicuous Consumption

Jiajia Chen,Ziyuan Liu,Lingxue Bu,Yang Luo,Mengge Chen,Jingke Gao

doi:10.3390/su14042096

Jiajia Chen, Ziyuan Liu + Show 4 more

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https://doi.org/10.3390/su14042096

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Journal: Sustainability	Publication Date: Feb 12, 2022
Citations: 6	License type: CC BY 4.0

Affiliation: China University of Geosciences

Abstract

This study is based on the relationship between the anxiety of social groups (especially the young) in today’s social environment and the increasingly younger and more sociable consumer groups in China’s luxury market. In combination with the new consumption characteristics of sustainable luxury goods, we rethink the factors that contribute to conspicuous consumption behavior in which social groups exhibit differences. In order to test our research hypothesis, two questionnaires were conducted through online channels. In the first survey, data from 135 valid subjects showed a significant negative correlation between subjective social class and conspicuous consumption behavior. In the second survey, data obtained from 255 valid subjects again verified the main effect hypothesis of this study, which is that subjective social class has a significant negative influence on conspicuous consumption. Additionally, it is verified that status anxiety plays a mediating role in the influence mechanism of subjective social class on conspicuous consumption, and the social comparison orientation of individual consumers moderates the influence of subjective social class on status anxiety. This study reveals the applicability of subjective social class to Chinese scenarios and finds that individuals of different social classes have different conspicuous consumption behaviors, which expands the research on the antecedents of conspicuous consumption and enriches the research on consumer psychology and social behavior. In practice, the results of this study will play a positive guiding role in rationally regulating psychology, dispelling social anxiety, reshaping the moral concept of conspicuous consumption, and promoting the sustainable development of luxury consumption at the individual or social level.

Highlights

The development of Internet technology is creating more and more consumption scenarios, and in such emerging markets, the social and public visibility of product consumption is more reflected
The purpose of this study is to develop and test the internal relationship and logical structure of subjective social class, status anxiety, conspicuous consumption, and social comparison orientation
This study explores how subjective social class influences individual conspicuous consumption tendency and examines the role of status anxiety and social comparison orientation

Summary

Introduction

The development of Internet technology is creating more and more consumption scenarios, and in such emerging markets, the social and public visibility of product consumption is more reflected. With increasing consumer awareness of sustainable development, some people define themselves as more responsible consumers than others, and conspicuous consumption of ecological products plays an important role in signaling affiliation or distinction among people in such lifestyle groups [2], which is especially reflected in the purchase of luxury goods. In the emerging markets, the same type of product could generate a double-purchase motivation, both symbolic and social satisfaction [5], but whether this view applies to consumers of different social classes needs further research and discussion.

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