Intercultural spending: How ethnicity and religion can influence financial habits

New international research from Macquarie University has found that people with a religious or ethnic background are more likely to save money, quelling the long-held belief that income and financial proficiency are the main determinates of an individuals ability to save. Alongside a team of international researchers, Associate Professor Chris Baumann of Macquarie Universitys Department of Marketing and Management studied low, middle and high income earners, both with religious and non-religious backgrounds - and also compared the saving/spending habits and customer loyalty of Caucasian consumers with that of Chinese populations in Mainland China, Australia and Canada. This research will help people understand how to better position their businesses to tap into these Chinese cultural groups, said Associate Professor Baumann. Lucy Chen has more interview with Associate Professor Baumann.

Source: SBS NEWS