Towards an Understanding of Frugal Consumers

Consumer frugality has recently started to attract attention, with suggestions that it needs to be understood as a lifestyle. Alternative discussions of frugality posit it as either a personality trait or as a value. This research aims to further our understanding of frugality in some of these respects by examining its association with values as measured using the modified version of Schwartz’ value survey. Results of an analysis of frugal and non-frugal New Zealand consumers’ values indicate that, although logical significant differences in values do exist, the pattern is too unclear to indicate that frugality exists as a single value. Rather, findings appear consistent with the contention that frugality may be best viewed as a lifestyle choice.