Title: Money attitudes as predictors of materialism and compulsive buying, and gender demographics, in the 'new India'

Authors: Jitendra Kumar Mishra; Miriam Tatzel; B.K. Arun; Naseem Abidi

Addresses: Jaipuria Institute of Management, 101, Sapphire Heights, Opp. C21 Mall, AB Road Indore, Indore (MP) – 452010, India ' Empire State College, 150 East Route 59, Nanuet, New York 10954, USA ' Professor Dayanand Sagar Business School, Kumarswami Layout, Bangalore, 560078, India ' Jaypee Business School, JIIT University, Noida, (U.P.) 201307, India

Abstract: India is witnessing radical socioeconomic changes and astounding growth in information and communication technology industries. This study probes the potential effects of increased income on money-related attitudes in the new India. A survey of 140 software professionals found that those with strong material values believe that money brings status and they are relatively trusting of market prices. Compulsive buying tendencies are likewise linked to the status of money, but with the negative feelings of distrust of prices and anxiety over finances which, along with a lack of budgeting, suggest that emotions rather than reason guide compulsive spending. Women comprised close to 40% of the sample. They did not differ from men in education but were younger, with less work experience and lower income, suggesting that women are recently gaining greater entry into professional careers. The implications of the study for buyer behaviour and well-being in the new India are discussed.

Keywords: money attitudes; materialism; compulsive buying; software professionals; India; gender demographics; Indian culture; socioeconomic change; growth; information and communications technology; ICT; information technology; increased income; material values; status; market prices; emotional spending; buyer behaviour; wellbeing.

DOI: 10.1504/IJICBM.2014.064695

International Journal of Indian Culture and Business Management, 2014 Vol.9 No.3, pp.301 - 315

Received: 22 Mar 2013
Accepted: 04 Jul 2013
Published online: 13 Sep 2014 *

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