Science fact: Nostalgia induces our urge to spend. Or, more specifically, it reduces our capacity to question what we are buying. Don’t just take my word for it, there are numerous studies* that have been undertaken to prove the theory that advertisers and marketers have taken as read for years. It turns out that, that warm fuzzy feeling that allows us to hark back to the ‘good old days’ makes us less inclined to prioritise and keep control of our money.

The recent rush for brands to target the ultimate golden goose demographic - The Millennials - with 90’s-inspired nostalgia is well documented and understood (Nikelodeon is one example of a brand who is cashing in on the trend with their new 90's nostalgia channel, 'The Splat' due to be launched some time this year). This is the decade of their youth and, although they’re a generally optimistic bunch, they face increasing pressures posed by today’s economy and anxiety of their future, so are poised and ready to get warm inside for the right brand. Millennials are a savvy bunch who are naturally resistant to big, corporate brands with their something-for-everyone ethos. The use of inside jokes and tongue-in-cheek references to the nineties can create some much needed credibility and attention – as long as it’s done in a way that isn’t in conflict with your brand. Any whiff of looking like you’re trying too hard or not being authentic will meet with instant dismissal and rebuff.

But it appears that the need for nostalgia has evolved and mutated into ‘fakestalgia’ or a what millennial professor, Christy Wampole, describes today’s youth as “manifesting a nostalgia for times he never lived himself”. This media and tech-savvy generation have more accessibility than ever before to the past and are drawn towards collective memories that they haven’t experienced in their lifetime. Growing up in a time when last month’s phone is already old hat and expediency is integral to society, it’s no wonder we’re looking for the reassurance of the past to allow us to cope with the future.

Irony is often the viewpoint with which daily life is dealt and digested by millennials and it’s not lost on me that it’s particularly ironic that they are drawn to times that they haven’t lived long enough to have experienced. In the word’s of Alanis Morrisette; “It’s a little too ironic. Don’t you think?”

* Journal of Consumer Research, October 2014