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Psychological Drivers of Status Consumption Among Indian Luxury Consumers

Dr. Swapnil S. Phadtare

Associate Professor in Business Management

Email: swapnilsphadatare@gmail.com

1. Abstract

This study investigates the psychological drivers that influence status consumption behavior among luxury consumers in India. Drawing from social identity theory and conspicuous consumption theory, the research identifies key psychological antecedents such as self-esteem, social influence, materialism, and need for uniqueness. A structured questionnaire was administered to 300 Indian luxury consumers, and hypotheses were tested using exploratory factor analysis, reliability tests, and multiple regression. Results indicate that materialism and social influence significantly predict status consumption, while self-esteem and need for uniqueness have moderate effects. Implications are discussed for marketers and luxury brand managers.

Keywords

Status Consumption; Luxury Consumption; Materialism; Social Influence; Need for Uniqueness; Self-Esteem; Consumer Psychology; Symbolic Consumption; Emerging Markets; Indian Luxury Consumers