Articlegold2022

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

Jiajia Chen · Jingke Gao · Ziyuan Liu · Yang Luo

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Consumer Behavior in Brand Consumption and Identification Social and Cultural Dynamics Consumer Perception and Purchasing Behavior

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.

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References

1954A Theory of Social Comparison Processes 1988Possessions and the Extended Self 2000Relationship of subjective and objective social status with psychological and physiological functioning: Preliminary data in healthy, White women.2017Building a Network Theory of Social Capital 1989Theory and research concerning social comparisons of personal attributes.1999Individual differences in social comparison: Development of a scale of social comparison orientation.2005Neighbors as Negatives: Relative Earnings and Well-Being 2012Social class, solipsism, and contextualism: How the rich are different from the poor.

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