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Impact of Big Five Personality on Consumption Behavior

In: Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)

Author

Listed:
  • Tingwei Huang

    (Monash University, School of Psychological Sciences)

Abstract

Due to fierce market competition, consumer psychology is becoming more and more significant in the field of marketing. Understanding the fundamental reasons behind consumer behaviour can help companies identify their target market and create marketing strategies more successfully. Variations in consumer behaviour may also result from personality traits and their impact on unique cognitive and behavioural patterns. This study aims to exam how the Big Five personalities affect consumption bahavior. The study looks at how personality qualities affect consumer choices for products, particular consumption patterns (like sustainable and green consumption), and the process of making decisions when consuming. Research indicates a relationship between personality traits and inclinations for particular product attributes, brand selections, and impulsive purchasing behaviours. For discussion, companies that customize their marketing strategies based on consumer psychology can increase profitability and market performance. Personalised promotional strategies and more precise targeting should be made possible by an understanding of the connection between personality traits and consumer decision-making.

Suggested Citation

  • Tingwei Huang, 2024. "Impact of Big Five Personality on Consumption Behavior," Advances in Economics, Business and Management Research, in: Radulescu Magdalena & Bootheina Majoul & Satya Narayan Singh & Abdul Rauf (ed.), Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024), pages 282-288, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-459-4_35
    DOI: 10.2991/978-94-6463-459-4_35
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