THE ROLES OF PSYCHOLOGICAL ANTECEDENTS AND CONSUMER INNOVATIVENESS IN DETERMINING CONSUMER DECISION MAKING STYLES OF SOUTH AFRICAN MILLENNIAL CONSUMERS

Abstract

Studies on consumer decision making styles largely focused on determining and replicating these to varying contexts. Literature remains limited on what underlying psychological variables lead to the manifestation of consumer decision making styles. The purpose of this study is to investigate the roles of psychological antecedents and consumer innovativeness in determining consumer decision making styles of millennials in South Africa. A quantitative survey of 320 South African millennials through social groups was utilized. Non-probability convenience sampling determined selection of participants. Reliability statistics were applied to substantiate the effectiveness of this study’s questionnaire and data collection approach. Presentation and interpretation of data were achieved through descriptive and inferential statistics respectively. Findings of this study confirmed that psychological antecedents and consumer innovativeness pose either direct or inverse relationships on consumer decision making styles. Two classifications of consumer decision making styles (utilitarian or hedonic) were discovered to be directed by distinctive sets of psychological antecedents and consumer innovativeness. Findings of this study will assist marketers and mall managers in better understanding what aspects of shopping drive their patrons and how they can best serve them to ensure sustainability.