The Relationship Between Psychosocial Drivers and Spending Behavior Among Young Adult Consumers in the Province of Bukidnon
DOI:
https://doi.org/10.54536/jcbmm.v2i1.7910Keywords:
Fear Missing Out, Instant Gratification, Peer Influence, Spending Behavior, Status SignalingAbstract
This study is designed to assess the relationship of psychosocial drivers, particularly, Instant Gratification, Fear of Missing Out, Peer Influence, and Status Signaling, and the Spending Behavior of 400 young adults in the 4th legislative district of Bukidnon. The Spending Behavior is manifested through Impulsive Spending, Non-essential Spending, Purchase Guilt, and Budget Tracking. Purposive sampling is employed as its primary sampling technique for respondent recruitment and selection. Standardized questionnaire was developed as its primary research instrument for data collection. This included the collection of the demographic profile along with the different indicators of both the Psychosocial Drivers and the manifestations of Spending Behavior. The levels of the psychosocial drivers are measured using a four-point Likert Scale with equal intervals. The Pearson correlation analysis demonstrated statistically significant, positive relationships between all four psychosocial drivers and the overall Spending Behavior composite. All correlations were significant. This study highlights that spending behavior of young adult consumers is significantly shaped by psychosocial forces, most dominantly by peer networks, followed by the motivation to communicate identity and status through consumption.
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