Topic > Essay on Conspicuous Consumption - 1730

Conspicuous consumption refers to the ostentatious display of wealth for the purpose of acquiring or maintaining status or prestige. In Asia, luxury products convey the importance of status and face giving in Asian culture (Conspicuous consumer, org, 2014). Therefore, luxury goods companies consider Asia as the area of ​​greatest importance (Doran, 2014). The phenomenon of conspicuous consumption in China Recent studies have shown that Chinese consumers care more about the brand of the product than almost anyone else in the world. A Harris Interactive Survey of Chinese and American young adults in 2011 found that 72% of Chinese respondents considered “brand name” an important factor when purchasing clothes (Siegel, 2013). This reflects the conspicuous consumption condition in China that Chinese people purchase luxury products basically to highlight social status and their wealth. In Chinese culture, rich people always wear "jewelry and gold" to reveal their high social status. Currently, China's economy is experiencing meteoric growth. More and more Chinese families have sufficient funds to support extra daily consumption, except for dishes (Bergsten.2008). At the same time, luxury goods companies increasingly focus on marketing the Chinese market due to the huge consumer groups. It was also noted that the consumer customer base was twenty-five years old or younger. Furthermore, this kind of sizable group of Chinese consumers seems to indulge in purchasing luxury brands. There is an interview with a Chinese student about why she spends thousands of dollars on a luxury bag, and the answer is that purchasing luxury goods makes her feel successful and fulfills the aspiration of belonging to a social circle higher. What's more...... half of the document ......ally from two perspectives which are social influence and individual factors. To identify the fundamental reason, we have a survey to analyze the phenomenon. Therefore, we believe that social factors such as materialism and post-cultural revolution are the great background that built a microscopic environment, but the main factors are individual ones, especially the pursuit of high quality and psychological satisfaction. Since the conspicuous behavior of young generations is highly dependent on that of others, the parameter of excessive spending should also be set differently depending on the situation, but in general the phenomenon of conspicuous behavior could cause financial burden and misleading value. We believe that conspicuous drinking behavior should not be promoted but should be addressed and reduce the negative impact.