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Despite USA’s emphasis on children as consumers with great spending power, little is known about their actual spending preferences and how they might be linked to personal character traits such as materialism and gratitude. This study aims to address this literature gap by examining children’s spending preferences in an imaginary windfall scenario, as well as main and interactive effects of materialism and gratitude on such preferences.

This was a school-based research study. Survey methodology was used in which self-report measures were collected from 247 7-14-year-old children (58 per cent male).

Results suggest that materialism was significantly associated with saving resources and allocating less money to charity. Gratitude was related to more charitable giving. One interactive effect was found whereby the link between more materialism and saving was attenuated by high levels of gratitude. Contrary to expectations, no age or gender differences in spending preferences or materialism were found, but older children and girls reported higher gratitude than did younger children and boys.

Although cross-sectional data limit conclusions regarding directionality, the results have implications for understanding children’s consumer behavior, as well as children’s well-being, self-regulation and ability to delay gratification.

The results suggest that materialism, with its emphasis on consumption, and gratitude, with its positive feedback loop that encourages prosocial connections, are particularly relevant avenues to continue examining in future research on youth consumer patterns.

Gratitude not only promotes social connectedness but also is more environmentally sustainable in promoting appreciation for what one has rather than wanting more. Uncovering ways that these characteristics are linked to hypothetical and, ultimately, actual spending behavior reflects a meaningful contribution to the field.

This paper fills gaps in the literature by examining links between specific character traits and potential spending behaviors, with deeper implications for children’s psychosocial development, self-regulation and environmental sustainability.

The latest financial crisis has stressed the need of understanding the world financial system as a network of interconnected institutions, where financial linkages play a fundamental role in the spread of systemic risks. In this paper we propose to enrich the topological perspective of network models with a more structured statistical framework, that of Bayesian Gaussian graphical models. From a statistical viewpoint, we propose a new class of hierarchical Bayesian graphical models that can split correlations between institutions into country specific and idiosyncratic ones, in a way that parallels the decomposition of returns in the well-known Capital Asset Pricing Model. From a financial economics viewpoint, we suggest a way to model systemic risk that can explicitly take into account frictions between different financial markets, particularly suited to study the ongoing banking union process in Europe. From a computational viewpoint, we develop a novel Markov chain Monte Carlo algorithm based on Bayes factor thresholding.

Power, policy and politics set the landscape for technocratic approaches in the educational system. Efficiency and money-saving initiatives that adhere to a one-size-fits-all approach drive the response to complex and multifaceted challenges within education. This has been made apparent through the COVID-19 pandemic and its aftermath. This paper aims to explore one of the most pronounced and gaping realities that became evident during this crisis in how the system dehumanizes those in the margins. By not centralizing the biographies of families served in the schools, particularly culturally and linguistically diverse families, the system has failed to capitalize on the assets and affirm their wisdom.

This conceptual paper juxtaposes the technocratic and humanistic approaches of family engagement and provides alternative narratives rooted in authentic cariño (Bartolomé, 2008; Herrera et al., 2020; Valenzuela, 1999) and radical kinship (Boyle, 2017).

Currently, the educational system has sought to address complex issues by attending to the structures (i.e. plexiglass) and instructions (i.e. technology) as a way of responding to life-altering events that are in need of humanistic approaches.

The authors ask educators to reflect on the ways that power, policy and politics often stifle opportunities to move outside what is known to transform educational contexts. The authors conclude with critical questions to create new pathways guided by empathy and hope.

This case study is designed to enable students to understand the reasons behind the launch of a beauty brand grounded on traditions and culture, understand the strategies adopted by Florasis to establish its presence in the C-beauty space and emerge successful, analyze the positioning of a C-beauty brand in a highly competitive beauty market, identify the issues and challenges faced by a C-beauty brand in its efforts to disrupt the C-beauty space and suggest strategies that Florasis can adopt to emerge as a market leader in the global beauty industry.

Set in 2021, the case study discusses about the emerging C-beauty brand Florasis innovative strategies to promote the brand. Florasis was founded in 2017 with a vision to become a century old national makeup brand of China. Florasis was successful in getting on board a story-telling experience that featured traditional Chinese culture, aesthetics and heritage. It sold cosmetic products with retro packaging, concepts derived from traditional Chinese style, promoting a sense of national pride and nostalgia. The case study highlights the innovative strategies Florasis adopted like influencer marketing through key opinion leaders and key opinion customers, celebrity endorsements, user co-creation programs, social content and network marketing, brand crossovers and collaborations, etc. In April 2021, Florasis became the No. 1 cosmetic company in China with a gross merchandise value of 218m yuan and further the total sales for second quarter of 2021 reached 830m yuan, endorsing its supremacy over other global and local beauty brands in China. However, with success came along a set of challenges. Some analysts pointed that the brand was slow in innovating its product line-up, it focused more on promotions and advertisements and the brand positioning with a single sales channel, the cost performance and quality of the products and excessive marketing campaigns targeting a niche segment. Going forward, what should Florasis do to conquer the global beauty space? Can Florasis aspire to become a digitally empowered global beauty brand? Has it got the momentum? Will its direct-to-consumer model and unprecedented marketing and promotion gimmicks, help it achieve the lead in the global beauty space?

This case study is suitable for students of the graduate and undergraduate programs in management.

Teaching notes are available for educators only.

CSS 8: Marketing.