Materialism and Credit: Cultural Differences between China and Mexico
DOI:
https://doi.org/10.32870/mycp.v7i19.568Keywords:
Cultural Differences, Materialism, Consumption of Luxury Goods, Use of CreditAbstract
Culture influences the level of materialism of a society as well as its propensity for consumption of luxury goods and its responsibility in the use of credit (Belk, 1985; Ger y Belk, 1996). In this study, we analyze how these variables are related, comparing Chinese and Mexican consumers who are immersed in a different cultural heritage. A survey of 250 Chinese and 250 Mexicans was performed and analyzed using a Variance Analysis model. A Structural Equation Model study was also carried out to analyze the relationship between these variables in greater depth. A higher level of materialism was found among Chinese consumers than Mexican consumers. Mexicans showed that they are more eager to purchase luxury goods than Chinese consumers and Chinese consumers have better credit use compared to Mexicans. This study contributes to the literature to understand cultural differences between Mexico and China.Downloads
References
Ahuvia, A. C. y N. Wong (2002), “Personality and Values Based Materialism: Their Relationship and Origins”, Journal of Consumer Psychology, 12(4), pp. 389–402.
Armstrong, G., y P. Kotler (2009), Marketing: An Introduction, 9a ed., Upper Saddle, nj, Pearson Prentice Hall.
Banco Compartamos (2015), Información anual de los servicios financieros de Banco Compartamos s.a. i.b.m. Disponible en: https://www.compartamos.com.mx/wps/portal/compartamos/submenu/informacion-financiera/informacion-anual. Consultado: 5 de octubre de 2017.
Banco Mundial (2017a), gdp per capita. Disponible en: https://data.worldbank.org/indicator/NY.GDP.PCAP.CD. Consultado: 2 de octubre de 2017.
Banco Mundial (2017b), gini index. Disponible en: https://data.worldbank.org/indicator/SI.POV.GINI?locations=CN. Consultado: 2 de octubre de2017.
Banerjee, A., y E. Duflo (2007), “The Economic Lives of the Poor”, Journal of Economic Perspectives, 21(1), pp. 141-168.
Bearden, W. O.; Netemeyer, R. G. y J. E. Teel (1989), “Measurement of Consumer Susceptibility to Interpersonal Influence”, Journal of Consumer Research, 15(4), pp. 473–481. doi: doi.org/10.1086/209186.
Belk, R. W. (1985), “Materialism: Trait Aspects of Living in the Material World”, Journal of Consumer Research, 12(3), 265-280. doi: doi.org/10.1086/208515
Blackwell, R. D.; Hawes, D. K. y W. W. Talarzyk (1975), “Americans’ Use of Credit Cards: A Nation-Wide Study of Female and Male Attitudes”, Bulletin of Business Research, 50(2), pp. 5-8.
Bowers, J. S. (1979), “Consumer Credit Use by Low Income Consumers who have had a Consumer Education Course: An Exploratory Study”, The Journal of Consumer Affairs, 13(2), pp. 334-345. doi: 10.1111/j.1745-6606.1979.tb00149.x.
Cervantes, M., y D. Lemus (2015), “China y México: Desempeño económico y valores éticos religiosos”, México y la Cuenca del Pacífico, 19(53), pp. 47-72.
Charles, K. K.; Hurst, E. y N. Roussanov (2009), “Conspicuous Consumption and Race”, Quarterly Journal of Economics, 124(2), pp. 425-467. doi: doi.org/10.1162/qjec.2009.124.2.425.
Chevalier, M. y G. Mazzalovo (2008), Luxury Brand Management: A World of Privilege, Singapore, John Wiley and Sons.
Chinese Association of Microfinance (2017), Chinese Association of Microfinance. Disponible en: http://www.chinacsrmap.org/Org_Show_EN.asp?ID=1016. Consultado: 5 de octubre 2017.
Deeter-Schmelz, D. R.; Moore, J. N. y D. J. Goebel (2000), “Prestige Clothing Shopping by Consumers: A Confirmatory Assessment and Refinement of the precon Scale with Managerial Implications”, Journal of Marketing Theory and Practice, 8(4), pp. 43–58.
Dittmar, H. (1994), “Material Possessions as Stereotypes: Material Images of Different Socio-economic Groups”, Journal of Economic Psychology, 15(4), pp. 561–585.
——— (2008), Consumer Culture, Identity and Well-being. The Search for the “Good Life” and the “Body Perfect’”, New York, Psychology Press.
Dubois, B. y G. Laurent (1996), “The Functions of Luxury: a Situational Approach to Excursionism”, Advances in Consumer Research, 23, pp. 470–477.
Durvasula, S. y S. Lysonski (2010), “Money, Money, Money – How do Attitudes toward Money Impact Vanity and Materialism? – The Case of Young Chinese Consumers, Journal of Consumer Marketing, 27(2), pp. 169-179.doi: doi.org/10.1108/07363761011027268.
Fournier, S. y M. L. Richins (1991), “Some Theoretical and Popular Notions Concerning Materialism”, Journal of Social Behavior and Personality, 6(6), pp. 403–414.
Fuentes, C. (1999), The Buried Mirror: Reflections on Spain and the New World, Nueva York, Mariner Books.
Ger, G. y R. W. Belk (1996), “Cross-cultural Differences in Materialism”, Journal of Economic Psychology, 17(1), pp. 55-77.
Haavelmo, T. (1943), “The Statistical Implications of a System of Simultaneous Equations”, Econometrica, Journal of the Econometric Society, 11(1), pp. 1-12.
Harner, J. (2007), “Globalization of Food Retailing in Guadalajara, Mexico: Changes in Access Equity and Social Engagement”, Journal of Latin American Geography, 6(2), pp. 33-53. doi: 10.1353/lag.2007.0041.
Hofstede, G.; Hofstede, G. J. y M. Minkov, (2010), Cultures and Organizations: Software of the Mind, 3a ed., New York, McGraw-Hill.
Hofstede Insights (2017), Compare Countries Tool. Disponible en: https://www.hofstede-insights.com/product/compare-countries/. Consultado: 2 de octubre de 2017.
Holt, D. B. (1995), “How Consumers Consume: A Typology of Consumer Practices”, Journal of Consumer Research, 22(1), pp. 1–16. doi: https://doi.org/10.1086/209431
Hooper, D.; Coughlan, J. y M. R. Mullen (2008), “Structural Equation Modeling: Guidelines for Determining Model Fit”, The Electronic Journal of Business Research Methods, 6(1), pp. 53-60.
Hu, L. T. y P. M. Bentler (1999), “Cutoff Criteria for Fit Indexes in Covariance Structure Analysis: Conventional Criteria versus New Alternatives”,
Structural Equation Modeling: a Multidisciplinary Journal, 6(1), pp. 1-55.
inegi (2010), Censo de población y vivienda 2010. Estados Unidos Mexicanos Resultados finales por entidad y municipio. Disponible en: http://www3.inegi.org.mx/. Consultado: 10 de noviembre de 2016.
Kapferer, J. N. y V. Bastien (2009), The Luxury Strategy: Break the Rules of Marketing to Build Luxury Brands, London, Kogan Page.
Knight, A. (2002), Mexico: The colonial Era, vol. ii, Cambridge, Cambridge University Press.
Lafaye, J. (1987), Quetzalcoatl and Guadalupe: The Formation of Mexican National Consciousness, 1531-1813, Chicago, The University of Chicago Press.
Lerner, J. S.; Small, D. A. y G. Loewenstein (2004), “Heart Strings and Purse Strings: Carryover Effects of Emotions on Economic Decisions”, Psychological Science, 15(5), pp. 337-341.
Liao, J. y L. Wang (2009), “Face as a Mediator of the Relationship between Material Value and Brand Consciousness” Psychology and Marketing, 26(11), pp. 987–1001. doi: 10.1002/mar.20309.
León-Portilla, M. (2003), Los antiguos mexicanos a través de sus crónicas y cantares, México, Fondo de Cultura Económica.
Lu, P. X. (2008), Elite China: Luxury Consumer Behavior in China, Singapore, John Wiley and Sons (Asia).
Mason, R. S. (1981), Conspicuous Consumption. A Study of Exceptional Consumer Behavior, Great Britain, William Heinemann.
Naughton, B. (1993), “Deng Xiaoping: The Economist”, China Quarterly, 135, pp. 491-514. doi: doi.org/10.1017/S0305741000013886.
Nuño-Gutiérrez, B. L.; Álvarez-Nemegyei, J. y E. A. Madrigal-de-León (2008), “Efecto de una intervención antitabaco en estudiantes de enseñanza media superior en Guadalajara, México”, Salud Mental, 31(3), pp. 181-188.
Parker, R. S.; Haytko, D. y C. Hermans (2010), “The Perception of Materialism in a Global Market: A Comparison of Younger Chinese and United States Consumers”, Journal of International Business and Cultural Studies, 3(1), pp. 1-13.
Paz, O. (2004), El laberinto de la soledad, México, Fondo de Cultura Económica.
Pearl, J. (2000), “Causal Inference without Counterfactuals: Comment”, Journal of the American Statistical Association, 95(450), pp. 428-431. doi: dx.doi.org/10.1080/01621459.2000.10474213.
Ponchio, M. C. y F. Aranha (2008), “Materialism as a Predictor Variable of Low Income Consumer Behavior when entering into Installment Plan Agreements”, Journal of Consumer Behavior, 7, pp. 21-34. doi: doi.org/10.1002/cb.234.
Prelec, D. y G. Loewenstein (1998), “The Red and the Black: Mental Accounting of Savings and Debt” Marketing Science, 17(1), pp. 4-28. doi: doi.org/10.1287/mksc.17.1.4.
Prendergast, G. y C. Wong (2003), “Parental Influence on the Purchase of Luxury Brands of Infant Apparel: An Exploratory study in Hong Kong”, Journal of Consumer Marketing, 20(2), pp. 157–169. doi: doi.org/10.1108/07363760310464613
Raghubir, P. y J. Srivastava (2008), “Monopoly Money: The effect of Payment coupling and form on Spending Behavior”, Journal of Experimental Psychology: Applied, 14(3), pp. 213-225. doi: dx.doi.org/10.1037/1076-898X.14.3.213.
Ricard, R. (1982), The Spiritual Conquest of Mexico: An Essay on the Apostolate and the Evangelizing Methods of the Mendicant Order in New Spain, 1523-1572, Los Angeles, University of California Press.
Richins, M. L. (1994), “Special Possessions and the Expression of Material Values”, Journal of Consumer Research, 21(3), pp. 522–533. doi: https://doi.org/10.1086/209415
——— (2004), “The Material Values Scale: Measurement Properties and Development of a Short Form”, Journal of Consumer Research, 31(1), pp.209-219. doi: https://doi.org/10.1086/383436
Richins, M. L. (2011), “Materialism, Transformation Expectations, and Spending: Implications for Credit Use”, Journal of Public Policy and Marketing, 30(2), pp. 141-156. doi: doi.org/10.1509/jppm.30.2.141.
——— y Dawson, S. (1992), “A Consumer Values Orientation for Materialism and Its Measurement: Scale Development and Validation”, Journal of Consumer Research, 19(3), pp. 303-315. doi: https://doi.org/10.1086/209304.
Rindfleisch, A.; Freeman, D. y J. Burroughs (2000), “Nostalgia, Materialism, and Product Preference: an Initial Inquiry”, Advances in Consumer Research, 27, pp. 36–41.
Roberts, J. A. y E. Jones (2001), “Money Attitudes, Credit Card Use, and Compulsive Buying among American College Students”, Journal of Consumer Affairs, 35(2), pp. 213-240. doi: 10.1111/j.1745-6606.2001.tb00111.
Rozas, D. (2014), Microfinance in Mexico: beyond the Brink, European Microfinance Platform. Disponible en : http://www.e-mfp.eu/blog/microfinancemexico-beyond-brink. Consultado: 8 de Julio de 2014.
Sánchez-Gutiérrez, J.; González-Uribe, E. G.; Gutiérrez-Govea, A. y E. F.
García-Jiménez (2012), “The Effects of Intellectual Capital and Innovation on Competitiveness: An Analysis of the Restaurant Industry in Guadalajara, Mexico”, Advances in Competitiveness Research, 20(3-4), pp. 32-46.
Sivo, S. A.; Xitao, F.; Witta, E. L. y J. T. Willse (2006), “The Search for ‘Optimal’ Cutoff Properties: Fit Index Criteria in Structural Equation Modeling”, Journal of Experimental Education, 74(3), pp. 267-288. doi: dx.doi. org/10.3200/JEXE.74.3.267-288
Tatzel, M. (2002), “‘Money Worlds’” and Well-being: An Integration of Money Dispositions, Materialism and Price-related Behavior”, Journal of Economic Psychology, 23(1), pp. 103–126.
——— (2003), “The Art of Buying: Coming to Terms with Money and Materialism” Journal of Happiness Studies, 4(4), pp. 405–435.
Thaler, R. H. (1999), “Mental Accounting Matters”, Journal of Behavioral Decision Making, 12(3), pp. 183-206.
Transparencia Internacional (2017), Corruption Perception Index 2016. Disponible en: https://www.transparency.org/news/feature/corruption_perceptions_index_2016. Consultado: 2 de octubre de 2017.
Vigneron, F. y L. W. Johnson (2004), “Measuring perceptions of brand luxury”, Journal of Brand Management, 11(6), pp. 484–506. doi: doi.org/10.1057/palgrave.bm.2540194.
Wang, C. L., y X. Lin (2009), “Migration of Chinese Consumption Values: Traditions, Modernization, and Cultural Renaissance”, Journal of Business Ethics, 88(3), pp. 399-409.
Watson, J. J. (2003), “The Relationship of Materialism to Spending Tendencies, Saving, and Debt”, Journal of Economic Psychology, 24(6), pp. 723–739.
Weber, M. (1930), The Protestant Ethic and the Spirit of Capitalism, Nueva York, Harper Collins.
Wiedmann, K. P.; Hennigs, N. y A. Siebels (2009), “Value-based Segmentation of Luxury Consumption Behavior”, Psychology and Marketing, 26(7), pp.625–651. doi: 10.1002/mar.20292.
Wilcoxon, F. (1945), “Individual Comparisons by Ranking Methods”, Biometrics bulletin, 1(6), pp. 80-83. doi: 10.2307/3001968.
Wong, N. Y. (1997), “Suppose you Own the World and No One Knows? Conspicuous Consumption, Materialism and Self”, Advances in Consumer Research, 24, pp. 197–203.
——— y A. C. Ahuvia (1998), “Personal Taste and Family Face: Luxury Consumption in Confucian and Western Societies”, Psychology and Marketing, 15(5), pp. 423–441.
Wright, S. (1921), “Correlation and Causation”, Journal of Agricultural Research, 20(7), pp. 557-585.
Downloads
Published
How to Cite
Issue
Section
License
Open Access Policy
This journal provides open access to all its contents, in adherence to the principle that making research freely available supports a greater global exchange of knowledge.
MyCP is licensed under a Creative Commons Attribution-NonCommercial license, also known as CC BY-NC.
Contents are published in both PDF and XML formats.
Authors who publish in México y la Cuenca del Pacífico must accept the following conditions:
Pursuant to Mexican copyright laws, México y la Cuenca del Pacífico acknowledges and respects the authors’ moral right and ownership of property rights, which will be assigned to the University of Guadalajara to publish the articles in an open-access mode.
México y la Cuenca del Pacífico does not charge the authors any fees for receiving and processing their articles.
Authors are permitted to enter into other independent and additional contractual agreements for the non-exclusive distribution of the article version published in México y la Cuenca del Pacífico (for example, publishing it in an institutional repository or in other printed or electronic media) as long as they clearly state that the piece was originally published in México y la Cuenca del Pacífico.
Pursuant to the above, once the article is approved for publication, authors must send the Assignment of Rights Agreement form duly filled and signed. This form must be sent to mexicoylacuenca@gmail.com as a PDF file.
Readers/users of México y la Cuenca del Pacífico can freely access the journal new issues as soon as they are uploaded. Readers/users are allowed to cite, share (both electronically and physically), print and distribute the material, provided they expressly state that the work was originally published in México y la Cuenca del Pacífico. Contents are to be properly cited and never for commercial purposes.
