A Comparative Analysis of Conspicuous Consumption: a Case Study of the USA and Russia

The phenomenon of conspicuous consumption has become a widely researched topic in sociological and economic studies of the XX and XXI centuries. The identification of the factors influencing the expenditure on conspicuous consumption has become a central focus of research. However, most of the research focuses on the features of consumption behaviors within a single country. The purpose of this study is to compare the influence of different cultural and economic factors on conspicuous consumption in the United States and Russia. The main area of the study is to examine the effects of such factors, as Gini index, average income, population density and educational attainment on the level of expenditure on apparel and footwear. As a result of model specification on the influence of the above-mentioned factors on conspicuous consumption, major differences in the determination of expenditure patterns on conspicuous consumption in the US and Russia have been identified.