Consumers’ Variety Seeking: From an Information Perspective

Abstract

Variety seeking is one of the most common psychological heuristics when consumers make decisions. The literature posits that understanding the mechanism of variety seeking is critical to explain consumers' decision-making process. Yet little is known about the effects of information, which also significantly influences consumers' choice behavior. Drawing on established theories of psychology and economics, the author develops a synergetic framework investigating the impact of information adequacy on degree of variety seeking. Results from three studies show that information scarcity significantly stimulates the degree of variety seeking (Study 1). In addition, consumers' preference stability, which represents consumers' inherent information, also inhibits the degree of variety seeking (Study 2). Finally, consumers' expertise level, which represents information acquired by learning and experience, shows a moderating effect on variety seeking-information link. Specifically, novice consumers are more likely to prefer variety than expert consumers when information is limited (Study 3).

The value of reputation in electronic marketplaces

“…The type of reviews on purchase intention is stronger for experts than for novices, while the effect of the number of reviews on purchase intention is stronger for novices than experts (Boon and Park and Kim, 2008). The main difference between experts and novices customers is the way they use obtainable information from market communication process, even the information content stays the same (Ju, 2015). Moreover, when information is limited, Ju (2015) found that novice customers are more likely to prefer variety than expert customers.…”

“…Customer with different expertise, usually categorized as experts and novices (Park, 1980;Raju et al, 1995;Ju, 2015). As a combination of product knowledge and experience (Yale and Gilly, 1995), customer expertise influences the way they collect and organize information (Lee, 2014).…”

“…Moreover, customers use different message-processing strategies depending on their level of expertise (Boon and Park and Kim, 2008;Park and Kim, 2008;Hong and Sternthal, 2010;Ju, 2015). The type of reviews on purchase intention is stronger for experts than for novices, while the effect of the number of reviews on purchase intention is stronger for novices than experts (Boon and Park and Kim, 2008).…”

“…The main difference between experts and novices customers is the way they use obtainable information from market communication process, even the information content stays the same (Ju, 2015). Moreover, when information is limited, Ju (2015) found that novice customers are more likely to prefer variety than expert customers.…”

Relationship Between Digital Advertising and Consumer Purchasing Behaviour in Delta State, Nigeria

“…According to Ju (2015), variety-seeking is a common psychological heuristic employed by consumers when making decisions. In variety-seeking behaviour, consumer engagement tends to be limited as consumers frequently switch between brands.…”