Journal article
SOCIAL COMPARISON, IMPULSIVE BUYING AND STUDENT DEBT AMONG GENERATION Y UNIVERSITY STUDENTS
International journal of social sciences and humanity studies, Vol.12(2)
2020
Abstract
Generation Y is an important market segment because they make-up such a large part of the South African population. University students are of particular interest because of their higher future earning potential. This student segment is also highly coveted by credit providers looking to establish early brand loyalty. This has led to many students becoming over indebted, and up to 50 percent of credit-active 18 to 26 year-old consumers are battling to pay their debts. This makes it important to understand how students' attitudes and values influence their current and future credit use. As such, this study aimed to determine the influence of social comparison and impulsive buying on South African generation Y students' attitude towards credit and credit intentions. Data were collected using a self-reporting questionnaire from a convenience sample of 630 generation Y students registered at four higher education campuses. Data analysis comprised exploratory and confirmatory factor analysis, reliability and construct validity analysis, and path analysis. Confirmatory factor analysis affirmed a four-factor model, which exhibited internal consistency and composite reliability, construct validity and acceptable model fit. The results of the subsequent path analysis infer that generation Y students' social comparison and impulsive buying are significant predictors of their attitude towards credit and future credit intentions. The findings suggest that social comparison and impulsive buying contribute to generation Y students' positive attitude towards credit and foster their 579 future credit usage intentions. This has implications both for marketers who use social media platforms to display products and retailers who rely on impulsive buying to boost sales. Care should, however, be exercised in approving students for credit accounts they cannot afford to repay.
Details
- Title
- SOCIAL COMPARISON, IMPULSIVE BUYING AND STUDENT DEBT AMONG GENERATION Y UNIVERSITY STUDENTS
- Authors/Creators
- Pieter van Schalkwyk (Author)A. Bevan-Dye
- Publication Details
- International journal of social sciences and humanity studies, Vol.12(2)
- Publisher
- The Social Sciences Research Society
- Identifiers
- 991005741587907891
- Murdoch Affiliation
- Murdoch University
- Language
- English
- Resource Type
- Journal article
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