"Money Worlds" and Wellbeing: An Empirical Test of Tatzel's Model of Consumption

Document Type

Article

Publication Date

10-1-2018

Department

Marketing and Fashion Merchandising

Abstract

Tatzel proposed a theory of money worlds and wellbeing comprised of four prototypical consumer patterns based on whether consumers are high/low on materialism and simultaneously tight or loose with money. Tatzel proposes that the four prototypes (value-seekers, non-spenders, big-spenders, and experiencers) differ strikingly along many values, attitudes, and behaviors. This study uses data from 1,016 U.S. student consumers to test empirically the typology and differences. A cluster analysis confirmed that a four-cluster solution best represented the data, supporting Tatzel's model. Subsequent ANOVAs showed that two of the four groups differed predictably in the hypothesized directions. Significant differences between big-spenders and non-spenders appeared in levels of price sensitivity, status consumption, generosity, brand engagement, worry about debt, and spending. The other two groups, value-seekers and experiencers, fell between them. The findings partially confirm Tatzel's theory and suggest that “money worlds” are one way of conceptualizing consumer culture.

Publication Title

Multifaceted Explorations of Consumer Culture and Its Impact on Individuals and Society

First Page

74

Last Page

101

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