The influence of money priming on conformity consumption: The distinct roles of self-sufficiency and self-control.

Abstract

Despite the pervasive role of money in society and the known psychological effects of money priming, research into its influence on consumer choices, especially regarding conformity behavior in consumption, remains limited. This study examines the impact of money priming on individual conformity behaviors within the context of Chinese consumption through three behavioral studies. Study 1 revealed that priming with money concepts reduces the tendency to conform. Study 2 investigated how feelings of monetary abundance and deprivation, elicited by money priming, affect conformity in consumption. The findings showed that a perceived sense of monetary abundance decreases conformity in consumption, whereas a sense of deprivation increases it. While product types did affect conformity consumption, they did not significantly interact with monetary primes. Study 3 explored the mediating roles of self-sufficiency and self-control, confirming that monetary abundance decreases conformity by enhancing self-sufficiency, and monetary deprivation increases conformity by diminishing self-control. These results suggest that money priming can trigger distinct feelings of abundance and deprivation, each having differential effects on conformity consumption. Understanding these effects can enable marketers to tailor strategies for personalized marketing or group purchasing initiatives, effectively addressing different market segments.