This paper looks at the relationship between status consumption, economic perceptions, price consciousness, brand consciousness, and value consciousness. Based on a convenience online sample of adults in the Southeast USA, most consumers are not motivated by status. There was a significant negative relationship between the level of status consumption and levels of price consciousness and value consciousness. Additionally, there was a significant negative relationship between level of status consumption and the view that it is frivolous to buy status products in an economic downturn. There was a significant positive relationship between status consumption and brand consciousness, indicating that those more motivated to consume for status are both more brand-name conscious and more likely to see a higher price as indicative of higher quality. For managers of luxury brands in this economy, the results suggest that although the status market may be smaller, status consumers are brand conscious and not price conscious. Consumers, however, may also feel that inexpensive products and discount stores can meet their status needs.
The United States is one of the most charitable nations, yet comprises some of the most materialistic citizens in the world. Interestingly, little is known about how the consumer trait of materialism, as well as the opposing moral trait of gratitude, influences charitable giving. We address this gap in the literature by theorizing and empirically testing that the effects of these consumer traits on charitable behavior can be explained by diverse motivations. We discuss the theoretical implications, along with implications for charitable organizations, and offer suggestions for future research.
This research examines the impact of the Big Five personality traits and social media usage on price consciousness and determines if this impact is influenced by generational cohort by comparing 215 millennials with 300 baby boomers. The survey research with a national panel of U.S. consumers utilizes established scales along with asking about hours per week spent on social media. While the study found no generational differences in price consciousness, it did find differences in the Big Five personality traits as millennials are more open, but baby boomers are more conscientious, agreeable, and neurotic. The results suggest for millennials, extroverts are more price conscious and open individuals are less price conscious. The amount of social media usage does impact the level of price consciousness with those spending more time on social media being more price conscious. When comparing social media usage by cohort, there is no significant difference in terms of time spent on Facebook, but there are significant differences in time spent on Twitter, Instagram and Snapchat as millennials use all three of these sites more. Marketers can utilize
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