• Title/Summary/Keyword: Purchase Risk

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Female Consumers' Attitudes and Purchase Intentions toward Intimate Apparel Brands

  • Rose, Jennifer;Cho, Eunjoo;Smith, Kathleen R.
    • Fashion, Industry and Education
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    • v.14 no.2
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    • pp.35-46
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    • 2016
  • The purpose of this study was to examine female consumers' attitudes and purchase intentions toward intimate apparel brands. To understand female consumers' shopping behaviors for intimate apparel products, this study examined interrelationships among brand familiarity, perceived risk, attitudes, and purchase intentions toward intimate apparel brands. A conceptual model was developed by adopting perceived risk theory (Cox, 1967) and theory of reasoned action (Ajzen & Fishbein, 1980). A pre-survey using a paper and pencil was conducted to identify the most familiar intimate apparel brand to young female consumers. The majority of pre-survey respondents (66 female college students) indicated Victoria's Secret as the most prominent intimate apparel brand. Therefore, Victoria's Secret was used to examine possible effects of brand familiarity on perceived risk and attitudinal and behavioral responses toward the brand. Using a web-based survey, 384 complete responses were collected from young female college students between the ages of 18-29 at a Mid-southern U.S. university. A structural equation modeling was employed to test the proposed research model and hypotheses. Results showed positive, statistically significant associations among the four variables (e.g., brand familiarity, perceived risk, attitudes, and purchase intentions). The findings suggested that young female consumers who are familiar with a particular intimate apparel brand are likely to perceive a low level of risk, leading to positive, strong attitudes with purchase intentions toward that particular intimate apparel brand. This suggests establishing brand familiarity through integrated marketing communication is crucial for risk reduction strategy in intimate apparel shopping.

An Analysis of the Effects of Luxury Brand Consumers on the Re-purchase Intentions, Behavioral and Risk Perception (명품브랜드 소비자의 재 구매의도에 미치는 영향 분석 -온라인 해외직업구매 이용동기, 행동의도, 위험지각을 중심으로-)

  • Yoon, Seonyoung;Lee, Seunghee
    • Journal of Fashion Business
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    • v.22 no.5
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    • pp.1-14
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    • 2018
  • The purpose of this study was to define the purchase behavior of online luxury fashion brand consumers that soon became new luxury consumption trends. To investigate online luxury fashion brand consumer's purchase behavior, three variables were suggested based on advanced researches. These variables include economic value, item variety and pleasure. Purchasing luxury online was not common but as cross-border online shopping market became popular, consumers began to purchase luxury items through online shopping platforms. Preliminary surveys was conducted on 20~40-year-old consumers who have experience in online shopping for luxurious items. Total 238 questionnaires were used for analysis. By using SPSS, frequency analysis, factor analysis, reliability analysis, correlation analysis, regression analysis, t-test and ANOVA were conducted. The results of the study were as follow; first, consumer's purchase behavior appeared to be influenced by the order of pleasure of shopping, economic value and item variety. Repurchase intention appeared to be affected by the order of economic value, item variety, and pleasure of shopping. Second, online luxury fashion consumers perceived that risk does not affect purchase intention and repurchase intention. Third, as purchase intention increases, repurchase intention also increases. Fourth, shopping value, age and channel risk also indicated meaningful differences. As an early study of luxury fashion brand products purchased directly online, the academic significance can facilitate an overall understanding of consumer behavior such as usage motive, risk perception, behavioral intention.

Improving a Risk-Averse Price-Fluctuating Inventory Model by Reallocating Initial Inventories (구매가격 변동 하에서 초기재고 재분배를 통한 위험회피 재고모형의 효율화)

  • Park, Chan-Kyoo
    • Journal of the Korean Operations Research and Management Science Society
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    • v.38 no.2
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    • pp.95-115
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    • 2013
  • In traditional inventory models, purchase prices of raw materials are assumed to be fixed and have no effect on the optimal choice of inventory policies. However, when purchase prices fluctuate continuously over time, inventory costs are heavily affected by purchasing prices. Risk-averse inventory model decides order quantity and ordering time by considering not just purchase prices but also the risk from the discrepancy between estimated prices and realized prices. In this paper, we propose a myopic inventory policy which incorporates price risk into deciding ordering time and quantities. While the existing risk-averse model has no mechanism to reallocate inventories already purchased for a specific future period, the revised one reallocates initial inventories of each period to other future periods so that it can avoid purchasing raw materials at high prices. Experimental results demonstrate that the revised model outperforms the existing one in respect of total cost and variability.

The study of the relationship among perceived risk of apparel purchase, control, and impulse buying - Focusing on internet shopping mall consumers - (의류구매위험지각, 통제, 충동구매 간의 관계 연구 - 인터넷쇼핑몰 소비자를 중심으로 -)

  • Chung, Mi Sil
    • Korean Journal of Human Ecology
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    • v.23 no.5
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    • pp.873-890
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    • 2014
  • The purpose of this study was to examine the relationship among consumer's perceived risk of apparel purchase in internet shopping mall, control, and impulse buying. The subjects were 319 female college students in Gyeongsang provinces. The obtained data were analyzed by reliability analysis, analysis of frequency, factor analysis, cluster analysis, one-way ANOVA, Duncan's multiple range test, correlation analysis, and t-test. The major results of this study were as follows: First, three factors of consumer's perceived risk of apparel purchase in internet shopping mall were identified: size risk, trust risk, and social/psychological risk. Second, the subjects were categorized into three different types of groups according to perceived risk: high perceived risk type, middle perceived risk type, and low perceived risk type. Third, three control(self-control, goal-control, and desire for control) and three impulse buying(impulsive buying for showing off, impulsive buying for excitement, and impulsive buying due to memory) were identified. Fourth, there was significant difference between strong control group and weak control group on three factors of impulse buying. Fifth, a significant positive correlation was found size risk and three factors of control and a significant negative correlation was found self-control and three factors of impulse buying.

A Study of the Effective Factors on the Consumer's Adoption of Casulal Hanbok. -Focused on the Perceived Risk and Product Expressive Self-Image- (생활한복의 채택 영향요인에 관한연구 -위험지각과 자기이미지를 중심으로-)

  • 최은영
    • Journal of the Korean Society of Costume
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    • v.42
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    • pp.43-58
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    • 1999
  • The purpose of this study was to investigate the effect of perceived risk and product express-ive self-image on the consumer's adoption of casua hanbok. A questionnaire was developed and data colle-cted from 269 women in Pusan. Data were analyzed to investigate the relation-ship among purchase intention perceived risk and product epressive self-image. Marketing implication about risk reduction was discussed. The results of this study were as follows. 1. Consumer's perceived risk on adoption o casual hanbok classified into four factors They were the risk on the confirmation of advantage of casual hanbok the risk on the negative viewpoint of others the risk on the complexity of dressing and care and the risk on the shortcoming of casual hanbok. It was explained that casual hanbok is innovative product. 2. According to the level of adoption of casual hanbok. consumers were categorized into three groups i.e. adopter potential adopter rejector. They differed in the degree of risk perception age and subjective knowledge redlated to casual hanbok. 3. Consumer's subjective knowledge age and two types of risk has predicting power to the purchase intention. Consumer's subjective knowledge was the best predicted factor and risk perception was negatively related to purchase intention. 4. The significant differences among the categ-orized consumer group was founded in the ideal self image and product expressive self-image 5. The gap of perception between ideal self-image and product expressive self-image was significantly different in each categorized consumer groups.

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Analysis of Factors which Influence Consumers' Purchase Intentions in Electronic Commerce Market (전자상거래 기업의 성공을 위한 소비자 구매의도 영향요인 분석)

  • Kim, Sung-Eon;Nah, Sun-Young
    • Asia pacific journal of information systems
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    • v.10 no.3
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    • pp.61-77
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    • 2000
  • World Wide Web(Web) supports bi-directional communication between corporations and consumers. In the year of Electronic Commerce, close relationships with consumers are more emphasized for corporations. Nowadays, corporations compete with corporations which are located in whole world through the media called Internet. In this competitive environment, to attract consumers' attentions, it is required to develope corporations' Web sites in the way to stimulate consumers' purchase intentions. To verify the elements needed to stimulate consumers' purchase intentions factors which influence consumers' purchase intentions were analyzed. Adaptation, shopping convenience and assurance-reliability were found to be positive factors for consumers' purchase intentions. It was also found that consumers' purchase intentions in electronic commerce market are influenced by previous shopping experiences. Consumers who have previous shopping experiences are mainly influenced by good delivery systems and shopping environments while who have no experiences are influenced by consumers' risks such as performance risk and personal and privacy risk when they intend to purchase products or services.

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Surrogate Internet Shopping Malls: The Effects of Consumers' Perceived Risk and Product Evaluations on Country-of-Buying-Origin Image (망상대구점(网上代购店): 소비자감지풍험화산품평개대원산국형상적영향(消费者感知风险和产品评价对原产国形象的影响))

  • Lee, Hyun-Joung;Shin, So-Hyoun;Kim, Sang-Uk
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.2
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    • pp.208-218
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    • 2010
  • Internet has grown fast and become one of the most important retail channels now. Various types of Internet retailers, hereafter etailers, have been introduced so far and as one type of Internet shopping mall, 'surrogate Internet shopping mall' has been prosperous and attracting consumers in the domestic market. Surrogate Internet shopping mall is a unique type of etailer that globally purchases well-known brand goods that are not imported in the market, completes delivery in the favor of individual buyers, and collects fees for these specific services. The consumers, who are usually interested in purchasing high-end and unique but not eligible brands, have difficulties to purchase these items overseas directly from the retailers or brands in other countries due to worries of payment failure and no address available for their usually domestic only delivery. In Korea, both numbers of surrogate Internet shopping malls and the magnitude of sales have been growing rapidly up to more than 430 active malls and 500 billion Korean won in 2008 since the population of consumers who want this agent shopping service is also expending. This etail business concept is originated from 'surrogate-mediated purchase' and this type of shopping agent has existed in many different forms and also in wide ranges of context level for quite a long time. As marketers face their individual buyers' representatives instead of a direct contact with them in many occasions, the impact of surrogate shoppers on consumer's decision making has been enormously important and many scholars have explored various range of agent's impact on consumer's purchase decisions in marketing and psychology field. However, not much rigorous research in the Internet commerce has been conveyed yet. Moreover, since as one of the shopping agent surrogate Internet shopping malls specifically connect overseas brands or retailers to domestic consumers, one specific character of the mall's, image of surrogate buying country, where surrogate purchases are conducted in, may play an important role to form consumers' attitude and purchase intention toward products. Furthermore it also possibly affects various dimensions of perceived risk in consumer's information processing. However, though tremendous researches have been carried exploring the effects of diverse dimensions of country of origin, related studies in Internet context has been rarely executed. There have been some studies that prove the positive impact of country of origin on consumer's evaluations as one of information clues in product manufacture descriptions, yet studies detecting the relationship between country image of surrogate buying origin and product evaluations rarely undertaken regarding this specific mall type. Thus, the authors have found it well-worth investigating in this specific retail channel and explored systematic relationships among focal constructs and elaborated their different paths. The authors have proven that country image of surrogate buying origin in the mall, where surrogate malls purchase products in and brings them from for buyers, not only has a positive effect on consumers' product evaluations including attitude and purchase intention but also has a negative effect on all three dimensions of perceived risk: product-related risk, shipping-related risk, and post-purchase risk. Specifically among all the perceived risk, product-related risk which is arisen from high uncertainty of product performance is most affected (${\beta}$= -.30) by negative country image of surrogate buying origin, and also shipping-related risk (${\beta}$= -.18) and post-purchase risk (${\beta}$= -.15) get influenced in order. Its direct effects on product attitude (${\beta}$= .10) and purchase intention (${\beta}$= .14) are also secured. Each of perceived risk dimension is proven to have a negative effect on purchase intention through product attitude as a mediator (${\beta}$= -.57: product-related risk ${\rightarrow}$ product attitude; ${\beta}$= -.24: shipping-related risk ${\rightarrow}$ product attitude; ${\beta}$= -.44: post-purchase risk ${\rightarrow}$ product attitude) as well. From the additional analysis, the paths of consumers' information processing are shown to be different based on their levels of product knowledge. While novice consumers with low level of knowledge consider only perceived risk important, expert consumers with high level of knowledge take both the country image, where surrogate services are conducted in, and perceived risk seriously to build their attitudes and formulate decisions toward products more delicately and systematically, which is in line with previous studies. This study suggests several pieces of academic and practical advice. Precisely, country image of surrogate buying origin does affect on consumer's risk perceptions and behavioral consequences. Therefore a careful selection of surrogate buying origin is recommended. Furthermore, reducing consumers' risk level is required to blossom this new type of retail business whether its consumer are novices or experts. Additionally, since consumer take different paths of elaborating information based on their knowledge levels, sophisticated marketing approaches to each group of consumers are required. For novice buyers strong devices for risk mitigation are needed to induce them to form better attitudes and for experts selections of better and advanced countries as surrogate buying origins are advised while endorsement strategy for the site might work as a reliable information clue to all consumers to mitigate the barriers to purchase goods online. The authors have also explained that the study suffers from some limitations, including generalizability. In future studies, tests of and comparisons among different types of etailers with relevant constructs are recommended to broaden the findings.

A Multi-level Approach to Perceived Risks of Medical Tourism Service and Purchase Intention: An Empirical Study from Korea

  • KIM, Minsook
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.1
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    • pp.373-385
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    • 2022
  • Due to the lack of information, medical tourists are regarded to be at high risk. Prior medical tourism research has found that various types of perceived risks have a significant impact on medical tourists' purchase behavior. Even though medical tourism is predicted to increase, there is a lack of behavioral research to explain how perceived risks affect medical tourists' purchase behavior. In the context of Korean medical tourism, this study attempts to evaluate the effects of multi-level (macro, organizational, and personal) factors on medical tourists' perceived risks and purchase intentions. A conceptual model and hypotheses were built and empirically validated to investigate links between multi-level characteristics, perceived risks, and purchasing intentions. The data for this study was collected from Chinese tourists using a questionnaire. The impact of cognitive country image, affective country image, and medical service quality on fundamental risk is confirmed by statistical testing. Surprisingly, expectancy discrepancy risk is influenced only by cognitive country image and information search capabilities. Both fundamental and expectation discrepancy risks lower medical tourists' purchase intentions. The findings of this study show that a multi-level strategy is required to investigate the links between perceived risks and medical tourism purchasing intentions based on macro, organizational, and personal factors.

The Moderating Effect of Visual Cues in eWOM on the Relationship between Perceived Risk and Purchase Intention (위험지각과 소비자의 구매의도의 관계에 대한 온라인 구전정보의 시각적 단서의 조절효과)

  • Ahn, Sun Young;Hong, JungHwa
    • Journal of Digital Convergence
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    • v.16 no.11
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    • pp.281-288
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    • 2018
  • The current study examined the moderating effect of visual cues in eWOM on the relationship between perceived risk and purchase intention. Specifically, the study tested the different directions of the moderating effect in positive and negative eWOM. Two studies from a 2 (perceived risk: high vs. low) by 2 (visual cue: presence vs. absence) experimental design were used with online subjects. Findings from study 1 (n=123) supported that visual cues in positive eWOM help to reduce the negative effect of perceived risk on purchase intention. However, study 2 (n=122) showed that visual cues in negative eWOM intensify the negative effect of perceived risk on purchase intention. The findings demonstrated that visual cues in eWOM influence consumers' decision under high risk conditions. We discussed findings of this study how visual cues in positive and negative eWOM can be strategically managed for new online sellers.

Risk-averse Inventory Model under Fluctuating Purchase Prices (구매가격 변동시 위험을 고려한 재고모형)

  • Yoo, Seuck-Cheun;Park, Chan-Kyoo;Jung, Uk
    • Journal of the Korean Operations Research and Management Science Society
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    • v.35 no.4
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    • pp.33-53
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    • 2010
  • When purchase prices of a raw material fluctuate over time, the total purchasing cost is mainly affected by reordering time. Existing researches focus on deciding the right time when the demand for each period is replenished at the lowest cost. However, the decision is based on expected future prices which usually turn out to include some error. This discrepancy between expected prices and actual prices deteriorates the performance of inventory models dealing with fluctuating purchase prices. In this paper, we propose a new inventory model which incorporates not only cost but also risk into making up a replenishment schedule to meet each period's demand. For each replenishment schedule, the risk is defined to be the variance of its total cost. By introducing the risk into the objective function, the variability of the total cost can be mitigated, and eventually more stable replenishment schedule will be obtained. According to experimental results from crude oil inventory management, the proposed model showed better performance over other models in respect of variability and cost.