The Influence of Nostalgia and Neophilaon Millennial Decision Making Styles
Although past studies provide wealthy information about the consumer decision making styles, very limited studies focus only on the impact of different factors on consumer decision making styles. It is therefore important to investigate new emerging factors such as nostalgia and neophilia that have not previously been tested together with consumer decision - making styles. Therefore, the goal of this study is to develop a more rigorous understanding of association of nostalgia and neophilia with decision making styles of Sri Lankan millennial. The research philosophy of the current study is a positivist research paradigm and follows a deductive approach and survey strategy. Convenience sampling technique was used to draw the sample and the sample size was 385. The link between nostalgia and neophilia with each dimension of consumer decision making styles, Pearson’s correlation coefficient was used. The results of this study indicate that, the relationship between neophilia and Perfectionist consciousness, Habitual & Brand Loyal Consciousness, Novelty Fashion Consciousness, Impulsive, Careless Consumer is comparatively high than their relationship with nostalgia.
Keywords - Consumer Decision Making Styles, Millennial, Neophila, Nostalgia