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  • Essay / Conspicuous Consumption Essay - 1730

    Conspicuous consumption refers to the ostentatious display of wealth for the purpose of acquiring or maintaining status or prestige. In Asia, luxury products reflect the importance of status and face in Asian culture (Conspicuous consumer, org, 2014). Therefore, luxury goods companies consider Asia as the region of greatest importance (Doran, 2014). The Phenomenon of Conspicuous Consumption in China Recent studies have shown that Chinese consumers care more about product branding 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” as an important factor when purchasing clothing (Siegel, 2013). This reflects the obvious consumption condition in China that Chinese people buy luxury goods primarily to highlight their social status and wealth. In Chinese culture, the rich always wear "jewellery and gold" to reveal their high social status. Currently, the Chinese economy is experiencing tremendous growth. More and more Chinese families have enough disposable funds to meet their additional daily consumption, with the exception of dishes (Bergsten, 2008). At the same time, luxury goods companies are increasingly focusing on marketing to the Chinese market due to the huge consumer group. It should also be noted that the consumer clientele was aged twenty-five or younger. Moreover, this type of visible Chinese consumption group seems to indulge in purchasing luxury brands. There's an interview with a Chinese student explaining why she spends thousands of dollars on a product. luxury bag, and the answer is that buying luxury goods makes him feel successful and fulfills his aspiration to belong to a higher social circle. Moreover... middle of paper ...... allied from two angles which are social influence and individual factors. In order to identify the fundamental reason, we have a survey to analyze the phenomenon. As a result, we believe that social factors such as materialism and post-cultural revolution constitute the grand context that constructed a microscopic environment, but the main factors are individual factors, especially the pursuit of high quality and psychological satisfaction. Since the young generation's ostentatious behaviors are highly dependent on others, even the criterion of excessive spending should be set differently according to different situations, but in general, the phenomenon of ostentatious behavior might cause financial burden and wrong value. We believe that conspicuous consumption behavior should not be encouraged, but should be addressed and reduce its negative impact..