A Treatise on Indian Consumers' Conspicuous Consumption towards Veblen Products
The main objective of the research is to identify reasons behind conspicuous consumption of Veblen products viz., fashion designer wear, diamond & gold jewellery and high-end cars to examine conspicuous consumption varies across both Aryan and Dravidian cultures which spread in North and South India respectively. The researchers get into meticulous review of relevant literature on conspicuous consumption, along with cultural differences in India and administered a well-structured questionnaire, conducted personal interviews on various influential factors on the consumption of Veblen products. The convenience sampling technique used to gather data with a total sample of 200 equally selected from eight cities of both North and South India and the collected data analyzed through ANOVA and Z-Proportion Test. Indian consumers' conspicuous consumption is significantly varies among the Veblen products selected for the study in the Aryan and Dravidian cultures in India. Out of 100 respondents, 43 percent responded positively towards fashion designer wear as against meager 17 to demonstrate their social status by purchasing diamond and gold jewellery in north India. To enhance self-image by wearing gold & diamond jewellery, 53 percent of respondents from south India reacted favorably whereas only 10 confined from north. Regarding conspicuous consumption of branded accessories, 65 percent Aryan culture Indians responded positively as against just 45 percent from the Dravidian culture south Indians.
2. Literature Review
3. Research Methodology