SPENDING BEHAVIOUR OF UNIVERSITY STUDENTS ON SOCIO ECONOMIC ACTIVITIES IN THE COSMOPOLITAN CITIES OF NORTHERN INDIA

Abstract

ABSTRACT newlineEconomic Growth of our country has brought big shifts and changes in the business confidence, demand and supply conditions. This has also brought noticeable changes in the consumption pattern of the Indian Consumers which in turn have brought implications and challenges for the marketers, manufacturers and retailer. Because of changing market trends, a demographic segment that has emerged as big-time spender is University Youth newlinePresent University Youth is complex and many faceted with channels of spending multidimensional and varied. Market is over flooded with many options and they love to spend a considerable part of their money on recreation, hanging out with friends, eating out, buying branded, fashionable and trendy apparels, internet, cool gadgets and many more. University Youth is transforming from green to gold. Good number of studies had been conducted on youth s spending behaviour internationally but in India, very less work had been found. Keeping considerations into these facts, present study is conceived. The purpose of the study was to investigate the spending preferences of University Students of Cosmopolitan Cities of Northern India. Self-made questionnaire was applied on 681 respondents. 360 males and 321 females were randomly picked up from the affiliated colleges and University of Chandigarh and Delhi. Statistical tools including Tabular Analysis, chi-square, t-test, ANOVA, Step-Wise Multiple Regression and Factor Analysis were used to analyse each and every question. newlineIt was revealed that most of the University Youth belonged to annual family household income group of less than 10Lacs. They were depending upon the pocket money that they getting from their parents/guardians to fulfil their socio economic needs. Family, friends, lifestyle and icons influence them to spend. Brand enhanced their image. Advertisements and sales promotion activities influenced them to buy. Significant differences were observed in the spending behaviour of males and females of both the study areas. Chandigarh was spending liberally than Delhi in all the variables but overall spending of Delhi was found to be higher. Males spent free heartedly and generously than their counterparts. Females were found to be more conscious for their looks and fitness. It was implied from the study that spending behaviour of youth was in several dimensions. Exposure to the western culture had changed their perceptions. It is a tough period of change. Therefore, it is recommended that marketers should create awareness and sow seeds for these changes by adopt new enthralling and impressive strategies so that they get lured and attracted to spend and buy. newline