Write a summary Paragraph 1 (100 words) Purpose and background Paragraph 2 (100

Question

Write a summary

Paragraph 1 (100 words) Purpose and background

Paragraph 2 (100 words) Research methodology OR Main points

Paragraph 3 (100 words) Findings and significance

                       

Purpose and background

       - Who wrote the article?

              - What is the problem or issue?

Research methodology

              - How did the authors conduct the study?

              - Who was involved? Where? What instruments were used? For how long?

Findings and significance

              - What were the conclusions?

              - Why is this important to know?

Spending their way to adulthood: consumption outside the nest Sarah Penman and Lisa S. McNeill Sarah Penman and Lisa S. McNeill are both at the University ol Otago. Dunedin, Otago, New Zealand Abstract Purpose The purpose of this paper is to explore consumption habits of the young adult market, as they leave home and enter into a world of personal fiscal responsibility Prior research in this area is limited however those studies, which have focused on young adult consumption have lound increasing impulsive consumption and use of credit amongst this generation. This study seeks to extend research in this area by exploning further how young consumers are spending, their motivations for impulsive consumption choices and their attitudes towards debt Design/methodologylapproach The study in the paper is exploratory, and takes a qualitative approach to data collection and analysis. A two-stage design is employed, consisting of focus groups with first and second-year university students and in-depth interviews with selected cases from these ocus groups. The data collected are content-analysed, with an emphasis on enlightening quotation from participants. Findings The paper finds that the young consumers studied show a relaxed attitude to debt and cosumer purchasing. with non-essential consumption seen as . deserved" and ? . reward.,or behaviour such as studying or working. Social pressure is found to be the key driver of consumption choices in this group, wilth the majority of spending decisions made impulsively Practical implications The paper considers the influence of peers and society pressures as a whole in encouraging young adults develop particular consumption habits and attitudes to money and debt? It highlights key aspects of the culture of consumption" that young consumers are part of today and indicates an attitude to debt that is quite different to generations before Originality/value The paper shows that where consumption habits are the focus of numerous consumer behavour studies, far fewer studies concentrate on how these consumption habits are developed. The study adds to existing knowledge on the development of consumption norms by considering the practises of the youth market as they leave home and begin making purchasing decisions away from parental influence Keywords Consumption, Youth, Consumer behaviour, Young adults. Lifestyles Paper type Research paper Prior consumer purchasing studies tell us that individuals are conditioned to consume in a particular way due to the influence of factors such as lifestyle, upbringing and family structure. These factors drive attitudes towards money, materialism, self-esteem and self-control related to non-essential consumption and shed light on motives and rationale behind purchasing decisions (e.g.Rindfleisch et al., 1997). When individuals have recently left the family nest, they are beginning to make purchasing decisions for themselves without the influence of family and the pressures of working life (and its associated responsibilities). Exploring these individual's attitudes towards spending will give insight into how consumption practises are established among the youth market. Focusing on furthers this insight as it explores the Recelved November 2007 Revised June 2008 Accepted June 2008

Explanation / Answer

Paragraph 1
The article was written by Sarah Penman and Lisa S McNeil
The article is based on consumption habits of the youth population. Much of the habit is related to impulsive consumption due to easy availability of the credit facility. The social pressure and peer pressure of displaying the lifestyle through social media has given rise to impulsive consumption of non essential items. Search habits may be cause of concern in the long run, leading to the youth being bankrupt due to increased use of credit and the company's interest rate will magnify the situation. The article also study the factors and driver that lead to impulsive purchasing decisions, It is important for the youth to build saving habits, so that the money can be used for any uncertain situation in the future. The articles aims to solve the issue of increased consumption of non essential item among the youth population.

Paragraph 2
Qualitative and exploratory research methodology is used to study the cause of impulse is pending of non essential items. For the study it is important to analyse the attitudes of the youth towards money. Identifying the level of self control and self esteem. The methodology used was of two stages first stage involved creating consumer Focus Group with the target market of 1st and 2nd year University student . the 2nd Stage involved conducting in depth interviews with the identified interesting cases in the consumer Focus Group. Five participants was chosen form consumer Focus Group to study the issues in depth. A total of 6 interviews were conducted and audio recorded.

Paragraph 3
The researchers concluded that the young population had very relaxed attitude towards spending and usage of credit. They were also too young to use the credit responsibility as they were unable to understand the terms and conditions accurately. Because of which they are also vulnerable target for the credit companies. The social pressure and the pressure to look good among the colleagues and classmates led to impulse is spending on fashionable products and other non essential items. Social upbringing and family influence played greater role in determining the attitudes of the youth. Instant gratification and easy availability of credit and online shopping altogether contributed to the impulsive spending habit. It is important to be aware of the personal spending habits so as to save money for a better future.

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