Factors influencing consumers's purchasing intention toward online group buying in HCMC
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In order to give description and measurement of the factors influencing consumers’ purchasing intention toward online group buying, this study tries to identify and measure the factors from not only economic perspective, e.g. price related factors, but also other perspectives such as network effect, conformity, trust, etc.
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Factors influencing consumers's purchasing intention toward online group buying in HCMC
- 1. FACTORS INFLUENCING CONSUMERS’ PURCHASING INTENTION TOWARD ONLINE GROUP BUYING IN HO CHI MINH CITY December 2013 tu.thai@cfvg.org
- 2. Overview 2 Business background ¨ Research objec6ves ¨ Methodology ¨ Results ¨ Conclusion & Recommenda6ons ¨
- 4. Online group buying model 4 Redeem products/services with vouchers Offer products/services Ad Vouchers Discounts Suppliers ¨ Group buying website Consumers Win-‐win situa6on ¤ Consumers can buy low price products ¤ Businesses can introduce products to more customers ¤ Group buying website can earn revenue
- 5. Demand & supply in Vietnam 5 ¨ Target customers ¤ ¤ ¤ ¤ ¨ ¨ Frequently use Internet Interested in promo6onal products Young (16 – 35 years old) Major ci6es Demand Poten6al customers ¤ ¤ ¤ ¤ Frequently use Internet Rarely used online shopping Have shopping demands Urban ci6es Source: FTA report (2011) Source: FTA report (2011) Rate of awareness about online group-‐buying Rate of buying vouchers 17% 56% 71% 48% No 83% 44% HCM ¨ Ha Noi 29% Da Nang 52% Yes 40% 89% 60% 11% Total HCM Ha Noi 65% 58% 35% 42% Da Nang Total Supply ¤ ¤ ¤ 100 websites 15 popular websites Leading market: NhomMua, HotDeal, MuaChung, CungMua No Yes
- 6. Trend 6 Online group buying becomes a new trend in shopping ¨ Increase of smartphone usage ¨ Emergence of secondary market ¨ Unless online group buying websites make difference and find out their own way, it’s tough to gain market share & be profitable ¨
- 8. Problem statement 8 ¨ Consumers’ economic perspec6ve ¤ Online group buying provides compe66ve discounts ¨ Concerns and disappointments ¤ Difficul6es of usages ¤ Disqualified quality of goods ¤ Delay of deliveries ¨ This study examines the factors influencing customers’ purchasing inten6on toward online group buying. ¤ Economic, social, psychological perspec6ve
- 9. Objec6ves 9 To iden6fy the key factors influencing consumers’ purchasing inten6on toward online group buying ¨ To examine how these key factors influence consumers’ purchasing inten6on toward online group buying ¨ To give recommenda6ons to online group buying enterprises for improvements to increase opportuni6es of purchasing from users ¨
- 10. 10 Methodology
- 11. Proposed conceptual model 11 Fishbein & Ajzen (1975, 1980) Shih-‐Ming et al (2011) Social perspec,ve Conformity Economic perspec,ve Price sensiXvity H2 H1a Price consciousness H1b Network effect H1c H3a Trust IntenXon H3b A[tude Psychological perspec,ve H3c SubjecXve norm
- 12. Variables (1) 12 Variables DefiniXon Source Economic perspec6ve Price sensi6vity Responses to changes or differences in prices for products or services. Shih-‐Ming et al (2011) Price consciousness Resistance to pay a higher price for a product or Shih-‐Ming et al focusing on seeking lower prices. (2011) Network effect A phenomenon in which a perceived value of a Shih-‐Ming et al product or service increases when more people (2011) use it. Social perspec6ve Conformity A change in aktudes, beliefs, or behaviors to fit Shih-‐Ming et al into group norms. (2011)
- 13. Variables (2) 13 Variables DefiniXon Source Psychological perspec6ve Trust Confidence that an individual has when the individual expects others will do what they expected. Shih-‐Ming et al (2011) Aktude Individual's beliefs about the behavior Fishbein & Ajzen (behavioral beliefs) and individual's beliefs about (1975, 1980) the outcomes of performing the behavior (evalua6on of behavioral outcomes). Subjec6ve norm Individual's norma6ve beliefs and mo6va6on to comply with beliefs. Fishbein & Ajzen (1975, 1980) Inten6on Individual's readiness to perform the behavior. Fishbein & Ajzen (1975, 1980)
- 14. Hypotheses 14 No. Hypothesis H1a Consumers’ price sensi6vity is posi6vely associated with consumers’ purchasing inten6on toward online group buying. H1b Consumers’ price consciousness is posi6vely associated with consumers’ purchasing inten6on toward online group buying. H1c Network effect is posi6vely associated with consumers’ purchasing inten6on toward online group buying. H2 Consumers’ conformity is posi6vely associated with consumers’ purchasing inten6on toward online group buying. H3a Consumers’ trust on the online group buying website is posi6vely associated with consumers’ purchasing inten6on toward online group buying. H3b Consumers’ aktude about online group buying is posi6vely associated with consumers’ purchasing inten6on toward online group buying. H3c Consumers’ subjec6ve norm for online group buying is posi6vely associated with consumers’ purchasing inten6on toward online group buying.
- 15. Qualita6ve research 15 ¨ Focus group ¤ 9 par6cipants ¤ Loca6on: Ho Chi Minh City ¤ Age: 20 – 35 ¤ Gender: 3 males, 6 females ¤ Occupa6on: student, engineer, secretary, func6onal manager ¤ Have bought goods/services by online group buying ¨ Discussion ¤ Share and discuss their experiences regarding to online group buying ¤ Why they decide or deny to purchase
- 16. Quan6ta6ve research 16 ¨ Target samples ¤ ¤ ¤ ¤ ¤ ¨ Ques6onnaire ¤ ¤ ¤ ¨ ¨ Gender: Male / Female Age: 16 – 45 Area: Ho Chi Minh City Condi6on: Have visited online group buying websites Size: 300 Filter respondents by age, loca6on, and condi6on of visi6ng online group buying websites Get further informa6on about of gender, occupa6on, and income Collect informa6on to measure the variables (Likert scale) Convenience sample method Publish ques6onnaire on Google Drive, link was sent through mailing lists and social network websites
- 17. 17 Results
- 18. Qualita6ve research – Result 18 ¨ Economic perspec6ve Have possibility to change purchase inten6on if recognized that price is significantly changed ¤ Have stronger inten6on to purchase if they saw that there were more other people are also purchasing or using the same product ¤ Wouldn’t purchase high-‐end products or services ¤ ¨ Social perspec6ve ¤ ¨ Searching for such product was some kind of hobby Psychological perspec6ve Thought online group buying is good and useful ¤ Thought friends’ recommenda6ons were trustworthy ¤ Didn’t have the absolute trust toward online group-‐buying ¤
- 19. Sample descrip6ve sta6s6cs 19 2% Age Gender Internet access 10% 12% 16 -‐ 25 47% 26 -‐ 35 36 -‐ 45 53% Female Many 6mes /day Male Once /day 86% 90% Occupa6on 2% 8% Monthly income 4% Employee 6% Self-‐employee 16% 29% < 5 MVND 12% Employer 5 -‐ 10 MVND Student Re6red/Unemployed 80% 10 -‐ 20 MVND > 20 MVND 43%
- 20. Constructs descrip6ve sta6s6cs 20 Rank Construct Mean 1 PRS (Price sensi6vity) 3.4210 2 PRC (Price consciousness) 3.4117 3 TRU (Trust) 3.4024 4 ATT (Aktude) 3.4011 5 SUN (Subjec6ve norm) 3.3997 6 CON (Conformity) 3.3971 7 NEE (Network effect) 3.3944 PUI (Purchase inten6on) 3.3772
- 21. Regression analysis – Result 21 Model Summary Model R R Square Adjusted R Std. Error of Square the Es6mate a 1 .863 .745 .738 .51201780 a. Predictors: (Constant), SUN, TRU, PRC, ATT, NEE, CON, PRS Coefficientsa Model Unstandardized Standardized t Coefficients Coefficients B Std. Beta Error (Constant) -‐5.675E-‐019 .032 .000 PRS .223 .063 .223 3.523 PRC .172 .057 .172 3.032 NEE .127 .061 .127 2.092 CON .140 .062 .140 2.253 TRU .008 .061 .008 .129 ATT .179 .058 .179 3.096 Sig. 1 1.000 .001 .003 .037 .025 .898 .002 .014 The model explains 73.8% of change of dependent variable of purchasing intenXon SUN .133 a. Dependent Variable: PUI .054 .133 2.480 Trust on the website (p > 0.05) has no significant impact on purchasing intenXon
- 22. Result model 22 Social perspec,ve Conformity Economic perspec,ve Price sensiXvity + 0.223 Price consciousness + 0.172 Network effect + 0.127 (ns) +0.008 Trust (ns) non-‐significant + 0.140 IntenXon + 0.179 A[tude Psychological perspec,ve + 0.1333 SubjecXve norm
- 23. Results of hypothesis tes6ng 23 No. Hypothesis p value Result H1a Consumers’ price sensi6vity is posi6vely associated with consumers’ purchasing inten6on toward online group buying. P < 0.05 Supported H1b Consumers’ price consciousness is posi6vely associated with consumers’ purchasing inten6on toward online group buying. P < 0.05 Supported H1c Network effect is posi6vely associated with consumers’ purchasing inten6on toward online group buying. P < 0.05 Supported H2 Consumers’ conformity is posi6vely associated with consumers’ purchasing inten6on toward online group buying. P < 0.05 Supported Consumers’ trust on the online group buying website is H3a posi6vely associated with consumers’ purchasing inten6on toward online group buying. P > 0.05 Not supported Consumers’ aktude about online group buying is posi6vely H3b associated with consumers’ purchasing inten6on toward online group buying. P < 0.05 Supported P < 0.05 Supported H3c Consumers’ subjec6ve norm for online group buying is posi6vely associated with consumers’ purchasing inten6on toward online group buying.
- 24. 24 Conclusion & Recommenda6ons
- 25. Conclusion 25 Rank Factors 1 Price sensi6vity 2 Aktude 3 Price consciousness 4 Conformity 5 Subjec6ve norm 7 Network effect Trust on the website has no significant impact on purchasing intenXon
- 26. Managerial recommenda6ons 26 Adapta6on of consumers’ price sensi6vity ¨ Understanding consumers’ aktude about online group buying ¨ Sekng price policy based on consumers’ price consciousness ¨ Enhancing conformity ¨ Delivering posi6ve informa6on to subjec6ve norm for online group buying ¨ Enlarging network effect ¨
- 27. Thank you