Overspending has been a largely stigmatised consumer behaviour in traditional Chinese culture. However, social and economic development in recent decades has induced the rise of Chinese consumerism and changes in public attitudes towards overspending. Focusing on overspending stigmas Gouwukuang (GWK) and Duoshoudang (DSD) and stigma‐relevant attitudes, the present study investigates the effect of perceived stigma on consumers' attitude towards overspending through the mediating effect of anticipated consumer guilt. The moderating role of message framing in this relationship is also examined. Results of two analyses indicate that (a) between the two stigmas, DSD is less stigmatising and preferred in comparison to GWK in social interaction and self‐identification; (b) participants' perception of the stigma associated with overspending predicts their anticipation of guilt associated with this behaviour, which in turn predicts negative attitude towards overspending; (c) message framing moderates the relationship between perceived stigma and anticipated guilt, and hence facilitates destigmatisation of the traditionally stigmatised behaviour of overspending. Theoretical and practical implications of these findings are discussed.

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