An Investigation of the Association Between Socioeconomic Variables and Materialism in Generation Y

Generation Y students have been found to score the highest on materialism compared to their predecessors and this has drawn the attention of many researchers and marketers. Previous research has proven family structure, socioeconomic status (SES) and gender to be significantly associated with materialism; however, many studies have neglected the mediating role that gender plays in predicting it when studying this generation. The current study aimed to determine: (1) if family structure, socioeconomic status and gender are significant predictors of materialistic levels, (2) which of these variables best predicts materialism and (3) whether materialism levels differ between genders in Generation Y students. Participants were recruited using convenience and snowball sampling methods, but also through word of mouth. A group of 109 Generation Y college students (18 - 36years) from either a single or two-parent family completed an online survey composed of socioeconomic questions and questions from the MVS-9 (Richins, 2004). Hierarchical multiple regression (HMR) and an independent-samples t-test were used for the analysis of the data. Results revealed that: neither family structure, SES nor gender were significant predictors of materialism; family structure was not the strongest indicator of materialism and finally, that no significant differences in materialism scores existed between genders. These findings run contrary to the majority of previous research and adds to our understanding of gender differences in materialism. This study may have implications for policymakers who wish to implement volunteering interventions for reducing materialistic attitudes in young students