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A Treatise on the Cross-Cultural Analysis of Indian Consumers' Conspicuous Consumption of Veblen Products
A Treatise on the Cross-Cultural Analysis of Indian Consumers’ Conspicuous Consumption of Veblen Products
Ansari, Rizwana (Nimra College of Business Management)
Challa, Siva Kumar (Department of Management Studies, Nimra Institute of Science & Technology)
Puttam, Lavanya (Department of Management Studies, Nimra Institute of Science & Technology)
Abstract
Purpose - This study aims to identify the reasons behind the conspicuous consumption of Veblen products, viz. fashion designer wear, diamond and gold jewellery, and high-end cars, to examine how conspicuous consumption varies between Aryan and Dravidian cultures. Research design, data, and methodology - The researchers meticulously review the relevant literature, administered a well-structured questionnaire, and conducted personal interviews on various influential factors relating to the consumption of Veblen products. The convenience sampling technique was used to gather data, with a total sample of 200, equally selected from eight cities of both North and South India the collected data was analyzed through ANOVA and Z-Proportion tests. Results - Indian consumers' conspicuous consumption significantly varies among the Veblen products selected for the study, between the Aryan and Dravidian cultures. Regarding conspicuous consumption of branded accessories, 65 percent of Aryan culture Indians responded positively as against only 45 percent of the Dravidian culture Indians. Conclusions - This ingenious study proffers valuable insights about the conspicuous buying behavior of affluent class consumers in India, which are lucrative for both the corporate sector and academia.
- keywords
- Conspicuous Consumption, Culture, Aryan Culture, Dravidian Culture, Veblen Products
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