Establishing Linkages between Materialism and, Social Pressure and its Contributors

Abstract

between low self-esteem and materialism, it has not been able to explain the co-existence of materialism and high self- esteem as noticed in Indian environments. Though exploratory in nature, this study looks at the linkages between materialism and, social pressure and its contributory factors which are considered as a major cause of materialism even among high esteem individuals. Social pressure construct includes all socialization factors which include media, peer group, family, social comparison with referents and attitude to debt, which creates a strong urge in individuals to enter into status consumption behavior. A quantitative survey was used to collect data from executives in three major cities of south India basis which the social pressure-materialism model is developed using structural equation modeling. This study supports the premise that social pressure and its contributory factors are associated with materialism. In this study, the confirmatory factor analysis, indicate the prominence of ‘possession defined success’, in comparison to ‘acquisition centrality’ and ‘acquisition for pursuit of happiness’. This is indicative of the fact that individuals in their attempt to fulfill their inherent need to appear successful engage in buying of status related products.