Decision‐making styles of young consumers in Bosnia and Herzegovina

The purpose of this study is to investigate decision‐making styles of young consumers in Bosnia and Herzegovina. It aims to test the applicability of Sproles and Kendall's Consumer Style Inventory (CSI). The paper also aims to segment young consumers based on their decision‐making styles (CDMS), profile consumer segments, and explore differences in gender and household income among segments.

Data were collected by means of a self‐administered survey. The sample consists of 600 young consumers from 18‐24 years of age, students from two large universities in Bosnia and Herzegovina. Data were analyzed using exploratory and confirmatory factor analysis, Cronbach's alpha coefficients; K‐means cluster analysis, Chi‐square test, and two‐proportion z‐test.

Factor analysis identified 20 items and six CDMS factor solution. The results further indicate that young consumers in Bosnia and Herzegovina might be classified in five segments according to their decision‐making styles. Young males were shown to be impartial, middle ground consumers, while females were more hedonistic‐oriented consumers. There were no significant differences in household income among segments.

The paper provides an empirical evidence of applicability of Sproles and Kendall's CSI instrument in the case of young consumers in developing transitional economy. The study shows that the CSI instrument might be used as a tool for segmenting and profiling young consumers in Bosnia and Herzegovina, and thus it enriches CDMS literature.