Consumer consumption preferences in pursuit of happiness: An exploratory study to examine the generational differences

Pages: 1748-1750
Chandrani Sen, Harsha Joshi, and Pratibha Mahawar (Department of Psychology, University of Rajasthan, Jaipur, Rajasthan)

The aim of the present research was to explore the consumer consumption trends among generation Y and generation Z and their perception of happiness. The data suggests that consumers are necessarily moving towards a paradigm shift in gaining happiness out of their preferences. A qualitative research was deployed. Initially the chosen sample was interviewed (by focused group method) and further the data was narrowed down by thematic analysis. It was found that generation Y prefers acquisitional purchases in pursuit of happiness whereas, generation Z prefers experiential purchases. It was interesting to find that new Generation Z believes in exploring the world by travelling and gaining happiness while Gen Y believes in possession and gaining sense of security out of it.