The Emergence of New Conspicuous Consumption
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Purpose – Conspicuous consumption is the public display of wealth to impress others. In this study, consumption patterns by social class and economic development of countries were theoretically examined. Research design, Data, and Methodology – A qualitative approach of historical investigation and literature review was employed to identify current trends and emerging phenomena in the areas of consumer behavior and conspicuous consumption. Result - The main participants of conspicuous consumption have changed from the upper class in developing countries to the middle class in developed countries. While the main purpose of conspicuous consumption, that is, achieving higher status, remains unchanged, a leisure upper class has emerged as a new consumer group for conspicuous consumption in developed countries. Conclusions - To satisfy consumers’demands for new conspicuous consumption, marketers are encouraged to offer luxury experience and hybrid products.
Abstract
Purpose – Conspicuous consumption is the public display of wealth to impress others. In this study, consumption patterns by social class and economic development of countries were theoretically examined. Research design, Data, and Methodology – A qualitative approach of historical investigation and literature review was employed to identify current trends and emerging phenomena in the areas of consumer behavior and conspicuous consumption. Result - The main participants of conspicuous consumption have changed from the upper class in developing countries to the middle class in developed countries. While the main purpose of conspicuous consumption, that is, achieving higher status, remains unchanged, a leisure upper class has emerged as a new consumer group for conspicuous consumption in developed countries. Conclusions - To satisfy consumers’demands for new conspicuous consumption, marketers are encouraged to offer luxury experience and hybrid products.
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