Conspicuous Consumption of Generation Y in Taiwan

Paper Summary:

This paper explains that conspicuous consumption is often thought of as unnecessary spending or the purchasing of products that are not necessities. Increases in upward mobility have increased conspicuous consumption patterns in nations around the world. The author points out that the impact of a rapidly growing economy and of increased education in Taiwan have had an impact on the conspicuous consumption of Generation Y. These individuals are college-educated with significant incomes and have money to spend. The paper concludes that there is a thin line between luxury and necessity; one generation's luxury becomes their successors' necessity. Luxury is often associated with a quality buy.

Table of Contents
Introduction
Literature Review
Luxury vs. Necessity
Modern Consumer Society of Luxury
Meanings of Conspicuous Consumption
Characteristics of Conspicuous Consumers
Comparison of Generation Y, Generation X, and Baby Boomers
Characteristics of Generation Y'ers in Taiwan
Methodology, Research Design and Data Collection
Preliminary Survey Design
Questionnaire
Part I: General Questions
Part II: Attitude toward Luxury Goods and Mass Commodity Goods
Part III: Customers: Brand Loyalty, Reaction to Different Product Categories, and Price Sensitivity
Part IV: Background Information
Depth Interview
Research Finding and Analysis
Part I: General Questions
Part II:
Part III: (Open Questions)
Analysis
Discussion: Limitation, Application, and Conclusion

From the Paper:

"The survey also found that some of the respondents had regrets about making expensive purchases. The phenomenon of regret was most evident in younger respondents who often regretted such purchases because they were too expensive, or the styles were outdated. The survey found that older respondents that were more financially stable rarely had regrets about the purchases they made. To combat the regret that younger consumers have companies should create a line of products that are less expensive but still have the high quality of other clothing by the designer. The less expensive line will allow younger consumers to purchase products without regret."

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