THE CONSPICUOUS CONSUMPTION PHENOMENON IN EGYPT: Recommendations

In the light of what has been early mentioned, the following results can be concluded

• The social prestige and dominance have a clear effect role in the stimulus increase towards the conspicuous consumption phenomenon in Egypt.

• The rate of 66.7% of respondents has the desire to spend a large portion of their income on the conspicuous consumption.

• The installment selling, income increase, importing increase, reduction of customs and selling taxation are all factors that led to the increase of conspicuous consumption phenomenon in Egypt.

• Among the most important priorities of conspicuous goods in Egypt are the housing type, modern furniture, car brand, possession of jewelry and well-known brand clothes respectively.

• Females exceed males in the increasing tendency towards conspicuous consumption in Egypt for the reasons that they do not bear the spending burden on family due to religious factors and other factors related to customs and traditions.

• The indebtedness cultural has a limited role in the increase of conspicuous consumption phenomenon in Egypt.

• The nature and fields of conspicuous consumption in Egypt differ according to their affecting factors.

• There is a quick response from the low-income groups to particularly among the youth age category to cope up with the patterns of conspicuous consumption phenomenon in Egypt.

In the Light of Previous Results, the Research Recommendations are as Follows

• Eliminating the negative conspicuous consumption habits and values, so as the increase spending on the conspicuous consumption will not lead to poverty and indebtedness in the future.

• Increase the customs tariffs and selling taxation on the imported conspicuous consumption goods to lessen their demand and encourage the similar domestic production of reasonable prices and quality.

• Strongly facing the aspects of boasting consumption and spending that threaten the actual growth of the Egyptian economy. This entails the collaboration of both official and non-official efforts in Egypt to work out legal, planning and ethical restrictions against extravagancy and squandering on the conspicuous consumption goods.

• The commercial banks and companies should adopt their social responsibility in rationalizing consumption and conspicuous spending, directing the capitals and the financing resources towards long-term productive projects that generate value and lessening their direction towards short-term consumption fields.

• The increase of mass media’s role and the civil society organizations at all institutions of the society to play an effective role in enlightening individuals and the society as a whole to rationalize the conspicuous consumption and achieve economic balance for the society.

• The increase of the enlightening and family education awareness and the education institutions in Egypt to curb the conspicuous consumption phenomenon.

• The increase of the religious awareness to lessen the risks and negative aspects of the conspicuous consumption which is considered as extravagancy, squandering and lavish spending.

• Holding further specialized seminars, conferences and workshops to explain the concept and dichotomies, risks and effects of the conspicuous consumption phenomenon on the Egyptian economy.

• Eliminating the social and cultural heritage and some effective negative consumption patterns that constitute a strong stimulus towards the conspicuous consumption.

• Conducting further future research and academic studies in the different fields and areas of specialization concerning the subsequent risks and negative effects of the conspicuous consumption phenomenon in Egypt.

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