The purposes of this study were to investigate the factors related to conspicuous consumption and the effect of materialism and reference group on the conspicuous consumption. The data used in this study included 287 homemakers living in Mokpo and Kwangju,. Statistics used for data analysis were Means Frequencies One-Way Anova and Multiple Regression Analysis. The findings were as follows: 1) The factors related to conspicuous consumption were educational level of wife educational level of husband job of husband and subjective level of living 2) The factors related to materialism were age of wife and subjective level of living 3) The factors related to reference group were age of wife educational level of husband job of husband and subjective level of living 4) Materialism and reference group had positive effects on conspicuous consumption 5) The effect of reference group was the most influencial factor