Monday, December 17, 2012
Racial minorities spend a larger portion of their incomes than do whites on conspicuous consumption - buying products that suggest high status
A study has found that, overall, blacks had more positive evaluations of high-status products than did whites. But more importantly, blacks who considered their race to be an important part of their identity rated high-status goods higher than did blacks who had lower racial identification. There was no such difference among whites in the study. According to the researchers, because African Americans are seen as lower in status in our society, those who identify more strongly with being black are more likely to compensate by seeking high-status goods.