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Abstract
The study investigated the penetration of six consumer durables in twenty emerging economies during a 24-year period (1977-2000) using correlation, regression and factor analysis. Findings show that modernization significantly influences the consumption of durables in emerging markets. The dimensions of modernization, as revealed from the factor analysis, are industrialization, openness, and quality of life in the country. All three factors, at varying degree, affect the consumption of durables. Marketers need to consider the level of modernization and the above socioeconomic factors in designing their marketing strategy in emerging/developing markets.