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Luxury market has been growing steadily as consumers’ demand for luxury is increasing. Particularly, luxury consumption market has been expanding from high-status, wealthy population to a broad population. Status or power is considered to be one of the most important drivers of luxury or conspicuous consumption and consumers with less status and power than the traditional target market of luxury brands purchase luxury goods to gain status and power. The problem is that this tendency will deteriorate their financial state of low social status consumers. Therefore, the purpose of current research is to test the hypothesis that happiness can act as a psychological buffer to intervene the vicious circle of deprived power and pursuit of conspicuous consumption.

Happiness, Power, and Conspicuous Consumption: Do You Want Louis Vuitton More When You Are Happy or Unhappy?