Consumer wisdom: a theoretical framework of five integrated facets

We establish a parsimonious theoretical framework of consumer wisdom based on five mutually reinforcing psychological facets. Our research draws from wisdom literature and a set of 31 phenomenological interviews with informants who were identified through a multi-stage nomination process. The five facets of consumer wisdom that emerged are Intentionality, Contemplation, Emotional Mastery, Openness, and Transcendence. Together, they comprise a data-grounded, aspirational model of consumer wisdom—for researchers as well as consumers—to understand, maintain, and improve personal and collective well-being. We discuss the implications of the framework and directions for future research


Keywords:

wisdom  well-being  mindfulness  values  morality  choice 


Citation:

Michael Gerhard Luchs and David Glen Mick (2018). Consumer wisdom: a theoretical framework of five integrated facets. Journal of Consumer Psychology , 28(3), Pages 365-392.. https://doi.org/10.1002/jcpy.1037

 

Authors

Michael Gerhard Luchs
David Glen Mick



Journal of Consumer Psychology  | 2018

https://doi.org/10.1002/jcpy.1037



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