Factors of conspicuous consumption: a theoretical analysis

Conspicuous consumption, a socio-economic term introduced into scientific discourse over a century ago, remains a highly relevant and pressing issue today. Amidst a dynamically evolving economy, profound cultural transformations, and scientific-technological challenges, this phenomenon manifests in new forms and generates growing interest within the scientific community. However, despite an extensive body of accumulated research dedicated to specific aspects of conspicuous consumption, the problem of the interconnection and interaction of factors determining this behavior remains insufficiently studied. Most works, both domestic and foreign, examine the influence of various factors in isolation, often limiting themselves to narrow or specific samples, whereas these factors constitute a complex, interconnected system. The objective of this study is to conduct a systemic analysis of the key factors influencing manifestations of conspicuous consumption in modern society, as well as to identify comprehensive interrelationships between the social, economic, cultural, and psychological components of this phenomenon. Within the framework of the study, the following tasks are set: to perform a conceptual overview and clarify the content of the concept of «conspicuous consumption»; to identify, study, and conduct a group classification (socio-cultural, economic, biological, psychological, information-technological) of factors determining conspicuous consumption; to investigate the mutual influence of the identified factors with the aim of further constructing a holistic model of motivation for conspicuous consumption. The theoretical and methodological basis of the research comprises the fundamental scientific works by domestic and foreign researchers. The practical significance of the obtained results lies in their potential application across various fields. For business and marketing, the findings allow for the development of new strategies to attract new clients and retain existing ones. From the perspective of state socio-economic policy, this work facilitates the development of tools for crafting measures aimed at reducing social tension and creating tangible practices in the context of the rational use of the population’s financial resources.