The effect of conspicuous consumption, bandwagon and snob effect on transformation expectations and personal wellbeing

Today, conspicuous consumption means building one's self, being part of the group, proving oneself, getting social approval and gaining respect rather than showing the wealth of the person conspicuously. Therefore, when a consumer buys a product, he/she expects significant transformation in himself /herself or his/her life. With a view to meet his/her expectations regarding transformation the consumer reaches a final decision about the quality of life by evaluating his / her life personal wellbeing. To that end, it is essential to know the effects of the consumers who tend to make conspicuous consumption, bandwagon and snob effect, on their transformation expectations which they believe to be realized through the products, and the effects on personal well-being. This research aims to identify the effects of transformation expectations and personal well-being on conspicuous consumption, bandwagon and snob effect, and introduces a model to achieve this aim. Data were collected through the online questionnaire. The participants, selected via snowball sampling on social media were requested to complete the questionnaire through Google Form, Imessage and Whatsapp. Structural equation modeling was used to analyze the relationship between variables in the model. The analyses suggest that conspicuous consumption and bandwagon effect has a direct effect on transformation expectation and snob effect has an indirect effect. It is revealed that the effects of individuals' expectations of transformation that they believe to occur in themselves or in their lives have an impact on personal well-being. However, it has been found that conspicuous consumption tendencies of consumers indirectly affect personal wellbeing through the mediating role of their transformation expectations. Keywords: Conspicuous Consumption, Bandwagon Effect, Snob Effect, Transformation Expectations, Personal Well Being