Chinese Millenials' happiness and materialism: Explanations from two life‐course theories, self‐esteem, and money‐attitudes

Journal of Consumer Affairs - Tập 55 Số 4 - Trang 1306-1332 - 2021
Helen Inseng Duh1, Hong Yu2, Yuefeng Ni3
1Marketing Department, School of Business Sciences, University of the Witwatersrand, Johannesburg, South Africa
2Ted Rogers School of Retail Management, Ryerson University, Toronto, Canada
3Department of Marketing, Beijing Institute of Technology, Beijing, China

Tóm tắt

AbstractBorn in an era of single‐child families and raised in the rapidly growing and globally connected milieu where material wealth is ranked at the top of life's achievements, Chinese millennials are feared to be materialistic. We assessed whether this was the case and whether happiness is gained from materialism. By questioning processes through which materialism develops, we examined how self‐esteem, money attitudes and human capital, and socialization life‐course theories explain materialism. We collected data from 207 millennials and conducted structural equation modeling and mediation analyses. We found that Chinese millennials were moderately materialistic and do obtain some happiness from materialism. Materialism was explained by the human capital and socialization life‐course theory, whereby self‐esteem mediated in how family resources received and peer communication during adolescence impacted materialism at young adulthood. Self‐esteem was a good predictor of five money‐attitude dimensions, which can help and hinder materialism depending on the dimension consumers hold.

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Journal of Consumer Affairs

Tập 55 Số 4

1306-1332

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