Activity: Other › Types of External academic engagement - Invited talk
The modern pursuit of personal identity and style through consumption is now widely recognized and is actively encouraged in many parts of the world. In fact, consuming for status has become a defining element of new consumerist societies. However, status directed consumption is not a recent phenomenon. From the extravagance and excesses of ruling elites in earlier societies to the new business maharajas, status directed consumption behaviour has been well observed and documented. However, with the increase in the standard of living beyond wealthy elite, status consumption has percolated through to the masses who are attempting to adopt profligate lifestyles across the world. For example, brands such as LVMH, Gucci and so on have seen phenomenal growth in the last two decades. This seminar attempts a brief review of the historical trends relating to status consumption and presents several studies conducted over the last decade focusing on status consumption in the developed and emerging markets. The studies focus on socio-psychological, brand and situational influences on status consumption across cultures.