When ‘Rockstar’ re-released in theatres this year, I knew I had to watch it on the big screen. I have seen it at least 10 times since it first released in November 2011, so the decision to watch it again on the big screen was purely driven by nostalgia. As they say, ‘reminiscent of the old days’.

This feeling inspired many to re-watch Jab We Met on the big screen this February. More than fifteen years after the film’s original release, theatres were packed with nostalgic women who remembered the film’s famous dialogues and perhaps tried to relive the song and carefree old days within themselves.

Now, R Madhavan and Dia Mirza’s ‘Rehnaa Hai Tere Dil Mein’ is back in cinemas, and many prime slot shows are already almost full. Shah Rukh Khan’s ‘Veer Zaara’ is also set to return this September.

At a time when cinema halls were empty due to a major drought in Bollywood, nostalgia was working its magic. So much so that the re-release of Imtiaz Ali’s ‘Laila Majnu’ earned more than the films released in theatres earlier.

Our love for nostalgia – the longing for the past – has not only helped revive the theatre business when OTT platforms had almost swallowed it up, but has also created many brands and businesses. Our tendency to live in the past is also the foundation of many businesses thriving online these days.

The business of memories

Take the example of 90SkidsIndia, an online D2C brand that is completely based on nostalgia. It offers a wide range of products from candies to games that were popular among the Indian youth – those who grew up in the 90s. Think signature candies, sweet cigarettes, steamboats and trump cards. Such nostalgic items are also sold as curated hampers on popular gifting platforms.

For a few bucks, you can travel back in time… a deal that millennials love. These consumers, who also have disposable income, love satisfying their nostalgia. That’s why even unique retail stores like The Souled Store carry 90s cartoon-themed clothing (Tom and Jerry, Johnny Bravo, The Flintstones). You can wear a part of your childhood on your sleeve.

Of course, this love for nostalgia is not just limited to millennials. Gen Z, Gen X, and even boomers are good targets for nostalgia marketing – a term used by professionals to define nostalgia as a marketing tool. Take the example of the Caravan Music System, a collection of primarily old songs, sold as a caravan of your memories that leverages nostalgia.

Why do we love old memories?

As humans, we seek security and comfort by remembering the past in an ever-changing environment. This is why no friend or family get-together is complete without reliving and reminiscing the same old stories and memories.

The songs we listened to, the shows we watched, the food we ate, the people we befriended, the neighbourhoods we spent our childhood in – all of these become nostalgic as the years pass. They give you a little solace but at the same time remind you that the present is no longer the same. To maintain that old-time comfort in an ever-changing world, we spend or indulge in things that make us feel this strong emotion.

“Nostalgia is a powerful emotion that makes people feel good by evoking their fond memories. It is both personal and social, making people reminisce about the old days and connect with each other. When done right, this emotional connect can create strong bonds between consumers and brands, ultimately leading to loyalty,” Yuvraj Gogia, marketing specialist at H&M, told India Today.

Studies show that nostalgia makes us spend more.

Another major trend related to nostalgia that is making businesses flourish today is memorialization. We are so aware of our love for nostalgia that we are already investing in it. Those wedding flower garlands that you replaced just a week ago? There are many big and small businesses that preserve them using resin. Social media platforms like Instagram are filled with home-run flower preservation businesses.

People are also preserving the last remains of their loved ones in special mementos like wearable jewelry (we’re not kidding); it appears to be a way to preserve memories. Similarly, it’s common for people to preserve umbilical cords in resin.

Remember how your mom would pass on all your childhood clothes to your younger cousins? Now, new business models are capitalizing on that old charm, enticing new-age parents to turn clothes into cute blankets and toys. Those clothes keep a part of their childhood alive even after they grow up.

Although it is nothing new, nostalgia marketing has been in practice for a very long time. Iconic brands like Nestle Maggi and Paperboat have leveraged it successfully.

Yuvaraj Gogia recalls how Nestle relied on nostalgia to rebuild trust among Indian consumers after FSSAI imposed a nationwide ban on Maggi noodles for six months after tests found high levels of lead and monosodium glutamate.

“While addressing and rectifying the product quality allegations in the backdrop, the brand launched the iconic campaign – #MeriMaggi. This series of ads powerfully evokes nostalgia, tells stories and associates Maggi with important events in people’s lives – Hostel wali Maggi, Manali wali Maggi, Honeymoon wali Maggi, and so on,” Gogia added.

Don’t exaggerate old memories

That said, staying connected to the present is just as important as being lost in the past.

Dr Roshan Mansukhani, Mumbai-based therapist and counsellor, says, “We humans tend to get caught up in the past or the future and ignore the present. Reliving old memories is indeed nice, but only for a short while or sometimes. However, we humans have taken it too seriously by preferring to live in a bubble of the past as we console ourselves with memories that take us away from the present reality, which may not be so pleasant at the time.”

Nostalgic purchases and experiences may feel like a cosy time machine, but they can also burn an unwanted hole in your pocket. Keep an eye out.