Chasing prestige: examining the interplay of subjective well-being, novelty-seeking behavior, consumer vanity and conspicuous consumption

Purpose This research seeks to deepen both theoretical and empirical insights into conspicuous consumption (CC) by investigating how psychological constructs such as life satisfaction (LS), subjective happiness (SH), consumer vanity (CV) and novelty-seeking behavior influence the consumption of luxury foods, an underexplored yet symbolically potent domain in the Indian context. Design/methodology/approach The subject of the study includes urban consumers in major Indian cities. Cross-sectional research design was considered where structural equation modeling (SEM), mediation and moderation analysis were used as statistical tools for analyzing the model. Findings CV has paramount influence on CC followed by consumer novelty-seeking behavior (CNSB). Moreover, CNSB showed significant mediating effect between the two subjective well-being attributes (SH and LS) and CC. Further, the feeling of guilt was found to have significant negative moderating effect on the relationship between CNSB and CC. Practical implications Consumers may treasure unique experiences that improve their experience. Tailored marketing strategies targeting consumers with high vanity, emphasizing social status and offering seasonal and innovative products for those desiring novelty would aid companies in the luxury food industry. To attract happy consumers, marketers should stress on luxury meals distinctiveness. Limited-edition items, exclusive tastings, chef collaborations and imaginative packaging could appeal to the novelty-seeking behavior, which relates LS and SH to CC. Originality/value The current research is the seminal attempt to validate a research model of CC of luxury foods by explaining an intricate relationship between LS, SH, CNSB, CV and CC. Further, the research also proved a significant moderating role of guilt in minimizing the positive effect of CNSB on CC.