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Socio Demographic Determinants Behind Conspicuous Consumption of Luxury Automobiles in Sri Lanka

Author:

Chathurga Karunanayake

Institute of Policy Studies of Sri Lanka, 100/20, Independence Avenue, Colombo 00700, LK
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Abstract

Conspicuousness is a phenomenon which is in wide praxis today, and we need not to go far to observe such consumption conducts that are rooted upon the motives to exhibit one’s monetary strength, to showcase exclusiveness or belongingness to a specific crowd while gaining prestige, respect and status. Yet, much little attention has been devoted towards this obtrusive consumer desire in Sri Lanka and elsewhere in the world. In the light of this, the purpose of this study was to explore the impact of socio-demographic cohorts on the conspicuousness of luxury automobiles in Sri Lanka. This paper reports the outcomes of an exploratory survey conducted using a sample of 200 luxury automobile owners in Sri Lanka to examine the reflection of conspicuousness under different age groups, gender, religions, educational attainment levels, occupations, and monthly incomes. The results highlighted that; there is a downward trend on conspicuous consumption in luxury automobiles as the owners grow older, males are more conspicuous than females, the level of educational attainment and conspicuousness has a negative relationship, employers are more conspicuous than employees and respondents in the lowest income band are most prone towards conspicuousness when compared to other income groups. In the context of Sri Lanka, all socio-demographic antecedents that were incorporated in the scope of the present study showcased to have a significant impact on conspicuous consumption of luxury automobiles. However, the reasoning behind such behavioral patterns warrant further research.
How to Cite: Karunanayake, C., 2020. Socio Demographic Determinants Behind Conspicuous Consumption of Luxury Automobiles in Sri Lanka. Sri Lanka Journal of Economic Research, 7(2), pp.87–113. DOI: http://doi.org/10.4038/sljer.v7i2.116
Published on 18 Sep 2020.
Peer Reviewed

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