Product social currency: Conceptualization, measurement and nomological validity

The marketplace increasingly values products that function as social currency, yet the existing literature lacks a blueprint for understanding the attributes that characterize these products. Product social currency (PSC) refers to a socially constructed symbolic resource derived from consumers’ perceptions that a product’s concrete attributes and consumption experiences provide conversational value and facilitate self-expression and social expression. Using a mixed-methods approach, we first identified these three dimensions through qualitative research guided by grounded theory and then developed and validated a 12-item Product Social Currency Scale across diverse samples (N = 2,672). The scale demonstrated strong reliability, construct, and predictive and incremental validity for consumer brand engagement, purchase intention, and satisfaction. PSC also predicted word-of-mouth within a broader nomological network. These findings clarify social currency at the product level, distinguish PSC from brand social currency, and provide a practical tool for product development and marketing strategy.