9.4%

of students in conventional schools and universities age 15 to 30 are prone to ‘conspicuous consumption’, i.e., buying the most expensive items.

Through brand-name clothing, the latest gadgets, and other status items they try to improve their self-esteem, maintain their reputation and ‘keep pace’ with their peers. The proportion of students in elite schools who feel it is important to demonstrate their wealth to others is almost twice as high. 15% of students do not see a difference between ‘prestigious’ and ‘ordinary’ products.

This information comes from research conducted by Natalia Shaidakova, lecturer in the Faculty of Management (Department of Marketing) at the HSE Nizhny Novgorod. The findings were summed up in the report ‘Conspicuous Consumption among Young People from Families of Different Social and Economic Backgrounds’.