The Etiology of Frugal Spending: A Partial Replication and Extension

Abstract

Frugal behavior is infrequently studied in both psychology and marketing. As a consumption pattern it deserves greater attention because frugal consumer behavior is a desirable goal for both individuals and societies. Paradoxically, targeting frugal consumers might also be a profitable strategy for savvy marketers. The present study builds on previous research into the nature and motivations for frugal behavior. Data analysis from a survey of 464 U.S. student respondents shows that three individual-difference characteristics are associated with frugality. Consistent with a prior study, frugality was negatively correlated with materialism and positively correlated with consumer independence. In addition, frugality was positively correlated with self-control, suggesting that frugal consumers tend to be less materialistic, more independent, and have more self-control than are their less frugal counterparts.