The purpose of this study is to reveal differences towards conspicuous consumption of the hard-hit by the recession Greeks and foreign consumers. For the purposes of this research a survey was carried out in Greece. Tandem cluster analysis was performed in order to separate consumers based on their conspicuous consumption patterns and tendencies. The analysis resulted in a three cluster solution and deduced that the recession-hit Greeks buy branded luxury goods, as hypothesized and expected.

ABSTRACT
 INTRODUCTION
 AIM AND OBJECTIVES
 METHODOLOGY
 MAIN RESULTS
 CONCLUSIONS
 REFERENCES

• Markos Tsogas(University of Piraeus, Greece)
• Irena Mecaj(University of Piraeus, Greece)
• Marina Kyriakou(University of Piraeus, Greece)