Value, Price Consciousness, and Consumption Frugality

Abstract Recently, Lastovicka, Bettencourt, Hughner, and Kuntze (1999) studied consumer frugality and argued that frugal consumers tend to be less impulsive and more disciplined in how they spend money, compared to other consumers. The frugal are also resourceful users and re-users of products and tend to be more independent than other consumers are. Lastovicka et al. (1999) summarized by showing that frugality is a useful concept for consumer behavior studies. This study examines frugality's relationships with price and value consciousness. Additionally, its impact on actual consumption is examined. Data from Israeli consumers mostly supports the study's hypotheses. The research and managerial implications of the findings are discussed.