Antencedents and mediators of consumer’s online purchase intention

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UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business ------------------------------ Nguyen Thi Thanh Tuyen ANTENCEDENTS AND MEDIATORS OF CONSUMER’S ONLINE PURCHASE INTENTION MASTER OF BUSINESS (Honours) Ho Chi Minh City – Year 2015 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business ------------------------------ Nguyen Thi Thanh Tuyen ANTENCEDENTS AND MEDIATORS OF CONSUMER’S ONLINE PURCHASE INTENTION ID: 22120036 SUPERVISOR: Nguyen Quynh Mai Ho Chi Minh City – Year 2015 i ANTENCEDENTS AND MEDIATORS OF CONSUMER’S ONLINE PURCHASE INTENTION Nguyen Thi Thanh Tuyen UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business ii ACKNOWLEDGEMENTS I am deeply grateful to my advisors, Dr. Nguyen Quynh Mai for the guidance and comments through the process of completing this thesis. Without the support and encouragement from Dr. Nguyen Quynh Mai, the thesis might not be completed in meeting the requirements and expectation of the research. I also want to say thanks to my classmates and others who complete the surveys and share knowledge with me. Nguyen Thi Thanh Tuyen July 4th, 2015 iii ABSTRACT Many e-vendors have been investigated in Vietnam but not all of them are successful. In order to be successes, e-vendors need to know how to attract consumers by understanding consumers’ purchase intention. In this study, five factors that were proposed to have influence on purchase intention. Those were technology characteristics, trust, social influence, perceived ease of use, perceived usefulness. A survey was launched in August, 2014 and 180 responses was collected in Ho Chi Minh City, Vietnam for analyzing. The findings showed that perceived usefulness is not a factor that influences purchase intention. Perceived ease of use is found to be a key factor that influence purchase intention directly. Technology characteristics, trust, and social influence are three factors that influence purchase intention indirectly via mediator perceived ease of use. To gain consumers online purchase intention, e-vendors should provide products and services that gain consumers’ perceived ease of use. Besides that, their websites need to be easy to read and easy to understand by improving technology characteristics. E-vendors also need to gain trust and social influence to increase consumers’ purchase intention. The results of this study provide a valuable insight on the direct impact of perceived ease of use and the indirect impact of trust, social influence, and technology characteristics towards online purchase intention. iv TABLE OF CONTENTS ACKNOWLEDGEMENTS ..............................................................................................II ABSTRACT .................................................................................................................... III CHAPTER 1: INTRODUCTION ..................................................................................... 1 1.1. BACKGROUND ........................................................................................................ 1 1.2. PROBLEM STATEMENT ........................................................................................ 2 1.3. RESEARCH OBJECTIVES ...................................................................................... 4 1.4. RESEARCH QUESTIONS ........................................................................................ 4 1.5. RESEARCH SCOPE AND LEMITATION .............................................................. 4 1.6. THESIS STRUCTURE .............................................................................................. 4 CHAPTER 2: LITERATURE REVIEW .......................................................................... 5 2.1. CONCEPTS................................................................................................................ 5 2.1.1 E-Retailing................................................................................................................ 5 2.1.2 Online Purchase Intention ........................................................................................ 6 2.1.3 Consumer Behavior .................................................................................................. 6 2.2 THEORIES OF CONSUMER BEHAVIOR .............................................................. 7 2.2.1 Theory of Reason Action - TRA ............................................................................. 7 2.2.2 Theory of Planned Behavior – TPB ......................................................................... 8 2.2.3 Theory of Acceptance Model – TAM ...................................................................... 9 2.3 ATTENCEDENTS OF ONLINE PURCHASE INTENTION .. ...............................11 2.3.1 Perceived Usefulness... ...........................................................................................11 2.3.2 Perceived Ease of Use ... .........................................................................................13 2.3.3 Trust......... ...............................................................................................................14 2.3.4 Social Influence ...................................................................................................... 16 2.3.5 Technology Characteristics .... ................................................................................17 2.4 CONCEPTUAL MODEL .... .....................................................................................18 v 2.5 CHAPTER SUMMARY .... .......................................................................................19 CHAPTER 3: REASECH METHODOLOGY ... ............................................................20 3.1 RESEARCH PROCESS ... ........................................................................................20 3.2 MEASUREMENT SCALES... .................................................................................22 3.3 DATA COLLECTION METHOD... .........................................................................25 3.3.1 Sample and Sample Size .........................................................................................25 3.3.2 Data Collection Process......................................................................................... 25 3.4 DATA ANALYSIS METHOD ............................................................................ ... 25 3.4.1 Descriptive Analysis .......................................................................................... .. 26 3.4.2 Reliability Analysis ........................................................................................... ... 26 3.4.3 Exploratory Factor Analysis .............................................................................. .. 26 3.4.4 Multiple Regression Analysis............................................................................. .. 27 3.4.5 Testing Mediation with Regression Analysis......................................................... 28 3.5 CHAPTER SUMMARY....................................................................................... ... 28 CHAPTER 4: DATA ANALYSIS.............................................................................. .. 29 4.1 DESCRIPTIVE ANALYSIS.... ................................................................................ 29 4.1.1 Gender .... ................................................................................................................31 4.1.2 Age. .. ..................................................................................................................... 31 4.1.3 Education. ... ........................................................................................................... 31 4.1.4 Income ... ................................................................................................................ 31 4.1.5 Career .. .................................................................................................................. 32 4.1.6 Frequency of Online Purchasing ............................................................................32 4.1.7 Most Recent Purchase ... ........................................................................................ 32 4.2 RELIABILITY ANALYSIS .. .................................................................................. 32 4.3 EXPLORATORY FACTOR ANALYSIS ............................................................... 35 4.4 HYPOTHESES TESTING ....................................................................................... 39 vii 4.4.1 Assumption Test. ... .................................................................................................39 4.4.2 Testing Mediation with Regression Analysis ........................................................ 42 4.5 CHAPTER SUMMARY .......................................................................................... 49 CHAPTER 5: CONCLUSION AND IMPLICATION .................................................. 50 5.1 DISCUSSION .......................................................................................................... 50 5.2 MANAGERIAL IMPLICATIONS ......................................................................... 52 5.3 LIMITATION OF STUDY AND FUTURE RESEARCH ..................................... 53 5.4 CONCLUSION ......................................................................................................... 54 REFERENCES .... ........................................................................................................... 56 APPENDICES ............................................................................................................... 61 LIST OF FIGURES .......................................................................................................... 8 Figure 2.1: Theory of Reasoned Action model ................................................................ 8 Figure 2.2: Theory of Planned Behavior – TPB .............................................................. 9 Figure 2.3: Original TAM .............................................................................................. 10 Figure 2.4: Final version of TAM .................................................................................. 11 Figure 2.5: E-retailing purchase intention model ........................................................... 18 Figure 3.1: Research Process ......................................................................................... 21 Figure 4.1: Revised e-retailing purchase intention model ............................................ 38 Figure 4.2: Histogram ..................................................................................................... 40 Figure 4.3: P-P Plot ........................................................................................................ 41 Figure 4.4: Scatter Plot .................................................................................................. 41 Figure 4.5: Diagram of description step 1-3 ................................................................... 44 Figure 4.6: Diagram of description step 4 ....................................................................... 45 Figure 4.5: Model Tested Result ..................................................................................... 46 vii LIST OF TABLES Table 3.1: Results of the Reliability Test (Pilot)............................................................ 24 Table 4.1: Descriptive Analysis ..................................................................................... 29 Table 4.2: Results of Reliability Test .............................................................................. 33 Table 4.3: KMO and Bartlelt’s Test ................................................................................ 35 Table 4.4: Total Variance Explained............................................................................... 36 Table 4.5: Rotated Factor Matrix .................................................................................... 37 Table 4.6: Collinearity Statistics ..................................................................................... 39 Table 4.7: Coefficients of TC, T, and SI Predicting PI ................................................... 42 Table 4.8: Coefficients of TC, T, and SI Predicting TB ................................................. 43 Table 4.9: Coefficients of TB Predicting PI .................................................................... 43 Table 4.10: Coefficients of TC, T, SI, and TB Predicting PI .......................................... 44 Table 4.11: Testing with Regression Analysis Result .................................................... 48 1 CHAPTER 1 INTRODUCTION 1.1. Background Internet has been very popular for a networking media. It also created a new form of retail which is known as e-retailing or web shopping. It is a necessary medium for global market transaction. Developing of e-retailing allows shoppers to purchase products or services from the web-retailers and search products information over the Internet. E-retailers don’t have to spend money for space (Keeney, 1999; Turban and King, 2003). Consumers can buy products on e-retailing websites by making transaction via virtual interface. It’s more convenient than traditional shopping which usually causes anxious crowded, traffic jam, limited time, and parking space. However, web shopping is perceived to be more risky than traditional way, so trust play a crucial role for consumers making online transaction (Pavlou, 2003). E-retailing has arisen in Vietnam from 2001. Together with the event joining WTO in 2006, Vietnam becomes a promising environment for e-retailing in next five years. A recent study Irwin and Nguyen (2013) showed that Vietnam’s e-retailing market value achieved approximately $300 million in 2011 and is expected to gain $2.8 billion by 2015 with growth rate at 75% from 2011 to 2015 (Irwin and Nguyen, 2013). In 2013, German Rocket Internet invested $250 million in Lazada Group, an online eretailing group, to five countries in Southeast Asia including Vietnam. Observers commented that it is the right time for foreign investors to gear up their investment plans in Vietnam. Many market reports have predicted that an online boom will happen in near future. Tran TrongTuyen, the director of DKT, forecasted that the Vietnamese e-commerce market in 20142015 will be doubled that of 2013. In 2013, Epinion, a market survey firm reported that 50% of Vietnamese internet users use online shopping. Lazada’s CEO, Alexandre Dardy, believes that shopping online through smartphones will be the tendency in near furure which will be favored by young consumers. Vietnam Net Bridge, a market survey firm, has reported that Vietnam 2 ranks second in the world in using smartphone. It is the reason for traditional retailers such as FPT Shop, Nguyen Kim, and The Gioi Di Dong last year began to expand their investments to develop online retailing (VietNamNet Bridge). In order to be successful, e-retailers need to learn about Vietnamese consumer’s characteristics to understand consumers’ purchase intention. Purchase intention refers to willingness of consumers when buying products and services online (Kimery and McCord, 2002). The purchase intention is the key element that leads to make the final decision on buying products. Purchase intention is evaluated base on the consumers’ willingness to purchase and their willingness to purchase again within a period of time. Furthermore, prior studies have showed that purchase intention is a key factor that influences consumers’ buying behavior and their shopping activities in the future (Pi et al., 2011; Pavlou and Gefen, 2004). Different from consumers in developed countries, people search products, play orders, and make payment online, Vietnamese often search on the internet and place order online but making payment by cash in person. Nguyen Ngoc Dung, chief representative of VECOM’s HCM City Branch, the Vietnam e-commerce association, pointed out that shopping online barrier does not lie in technology solutions but in consumer’s habits (VietNamNet Bridge, 2014). Vietnamese wants to see products in person before buying, so Vietnamese want to make payment after delivery of goods. E-retailing firms now have to accept that. It’s caused a lot of pain for e-retailing firms when many orders are cancelled upon delivery and the companies have to incur the cost of delivery. This problems need to be solved for e-retailing firms don’t have to bear the pain of canceled order upon delivery. 1.2. Problem Statement Vietnamese doesn’t believe in the quality of products until they physically touch them, so they prefer to buy products in store after reviewing on the web. It’s critical for companies to win Vietnamese consumers’ trust to against skepticism. While online payment via the bank is a mainly method in developed countries, the kind of method is not widely used in Vietnam. Online shoppers still pay in cash upon delivery. Payments via bank accounts and intermediate 3 payments are accounted for 41% to 8% respectively (Vecita, 2014). It’s because some people don’t have bank account and the others don’t trust banking system. This issue is a great pain for companies since some people cancel order on delivery. If people trust banking system and product qualities, then they will think making payment online is useful and their perceived usefulness will influence their purchase intention. If social influence such as social media, friends, relative, colleagues, etc. pays online for their shopping cart, then people will think payment online is useful and their perceived usefulness will influence their purchase intention. TAM model has been applied in many technology fields and e-retailing field is not exceptional. In 1996, Venkatesh and Davis introduced final version of TAM model. When investigating information system using behavioral, they recognized that perceived usefulness and perceived ease of use influence behavioral intention directly. Following pervious studies such as Ramayah and Ignatius (2005), Koufaris (2002), Garwal and Prasad (1999), Chau and Hu (2001), Moon and Kim (2001), Ngo (2013), Ho and Chen (2013), Jun et al. (2004), and Honarbakhsh et al. (2013), this study will also use TAM as a main theory to develop research framework. In this study, perceived ease of use and perceived usefulness are two keys factors that influence purchase intention directly. External factors that influence purchase intention indirectly via those two key factors that are technology characteristics, social influence, and trust. Trust and social influence are another problem that influence consumers on perceived usefulness which influence purchase intention according to TAM Model. Besides that, technology characteristics are the problem that influence purchase intention via perceived ease of use. Overall, trust, social influence, technology characteristics, perceived ease of use, perceived usefulness are all problems that preventing consumers from online purchasing. There are many e-retailing studies have been done in Vietnam but e-vendors still have to deal with online transaction problem. Most consumers still use cash payment upon delivery which cause a lot of pain for e-vendor when orders are canceled upon delivery. This study will investigate indepth about consumers’ purchase intention to help e-vendors solve the problem. 4 1.3. Research Objectives This study aims to apply TAM model to identify if perceived usefulness, perceived ease of use, trust, social influence, and technology characteristics influence consumers’ online purchase intention. 1.4. Research Questions The research is to answer the following question How do perceived usefulness, perceived ease of use, trust, social influence, and technology characteristics influence purchase intention? 1.5. Research Scope and Limitation Research scope: the research takes place in HCMC and data is collected from August 12th, 2014 until September 12th, 2014. Limitation: Most of people I know work in high tech industries, so they are more familiar with internet than the others. Ho Chi Minh City is the biggest city, people live in HCMC will shop online more than people from other cities. Therefore, the result may overestimate Vietnamese consumers purchase intention. 1.6. Thesis Structure This thesis have five chapter. The first chapter is introduction which introduces about research background, research problems, research questions, research objectives, research scope and limitation, and thesis structure. The second chapter does the literature review, proposed hypothesis, and then proposed research model. The third chapter introduces about methodology to be conducted. The chapter fourth represents research results. After having the result, chapter five makes conclusion and gives recommendation. 5 CHAPTER 2 LITERATURE REVIEW This chapter will review previous studies to understand main concepts of this studies and identify key factors that influence online purchase intention. Hypotheses are proposed after reviewing key concepts and theories foundation. 2.1. Concepts 2.1.1 E-retailing According to Awais and Samin (2012), e-retailing has looping process. In looping process, a company or a consumer uses internet to browse products that his/her want and compare with others products to see its advantages. When he/she completely satisfies with the products, he/she will place an order. The order will then be in the virtual shopping cart for online transaction option. When he/she completes payment, the seller will notify his/her about the fulfillment of the order. The order will be soon shipped and delivered to the consumers. If the consumers are satisfy with the services, then they will repurchase from that e-retailer. Awais and Samin (2012) pointed out the strength, weakness, opportunity, and threat of e-retailing. The major strengths of e-retailing are no boundary, no physical company setup, time saving. The major weaknesses are security, fraud, fake websites, and long delivery timing. Changing trends, new technologies, and global expansion are considered as opportunities for eretailing to be grown. Privacy concern, risk, and fraud are thread for e-retailing. Popularity of internet connectivity together with developing new powerful tools for using internet related devices have created a new era of retail which is called e-retailing. Eretailing is a type of business that operates by selling and buying of goods and services through computer by using internet. The developing of e-retailing has led businesses to online market. E-retailing gives opportunities for sellers and potential buyers to interact with each other 6 fromdistance by just one click. Saving time and money are a key success for e-retailing (Awais and Samin, 2012). 2.1.2 Online Purchase Intention Customer purchase intention is considered as an important signal to determine the strength of a consumer’s intention to carry out a specified purchasing behavior via Internet in the online shopping environment (Salisbury, et. al., 2001). Furthermore, the theory of reasoned action (TRA) also proposed that consumer behavior can be predicted from intention. Intention influences consumer behavior in terms of action, target, and context (Ajzen and Fishbein, 1980). According to Day (1969), consumer intention can be measured more effective than consumer behavior because consumer may make a purchase due to constraints rather than real preference when purchase is considered. Purchase intention is one of the components of consumer behavior on how individuals want to purchase a specific brand. Laroche, Kim, and Zhou (1996) suggested that purchase intention can be measured by variables which influence consideration or expectation in buying a specific brand. According to Pavlou (2003), he defined online purchase intention as a situation when consumers are willing and intend to involve in an online transaction. The online transaction is defined as an activity in which information retrieval, information transfer, and product purchase are processed (Pavlou, 2003). Information retrieval and information transfer are considered as intentions to use a website. When consumers use a website and want to buy products, then the online transactions occur (Pavlou, 2003). Therefore, it’s very important to study consumer purchase intention to encourage individuals make purchase on web shopping environment. 2.1.3 Consumer Behavior Consumer behavior is influenced by external and internal factors. External factors are considered as the environmental condition, and internal factors are related to the consumer’s mind (Mitta, 2013). Consumer behavior of every individual is different from another because 7 of buying habits and choices which are influenced by psychological and social drivers (Brassington and Pettitt, 2000). People often change their mind but they usually don’t realize that. Most people after changinh their mind and reconstructing their past opinion, they believe that they always thought like that (Keys, 2011). So consumer behavior is difficult to predict. Mitta (2013) suggested that the external factors have five sectors which are demographics, socio-economoics, technology and public policy, culture, and sub-culture. He also suggested that internal factors are influenced by variety of psychological processes which is attitudes, learning, perception, motivation, self-image, and semiotics. In addition, Seth (1983) also proposed that the consumer’s behavior has two type of motives while shopping. They are functional and non-functional. The functional motives are time, shopping place, and consumer’s needs. The consumers will be motivated if they can save time when shopping in an environment where they don’t have to pay parking fee and lower cost with widely range of products to choose. The non-functional behavior motives are related to culture or social values such as the brand name of the store. 2.2. Theories of Consumer Behavior TAM is the Theory of Technology Acceptance model that has been used for many prior studies in e-retailing field, so this study will use TAM as a main theory to develop the research model. TAM was develop based on TRA, Theory of Reason Action, byAjzen and Fishbein (1980) and TPB, Theory of Planned Behavior by Ajzen (1985), so TRA, TPB will also be introduced to for reader to understand how TAM to be developed. 2.2.1 Theory of Reason Action – TRA Theory of Reasoned Action (TRA) was proposed Ajzen and Fishbein(1980). They suggested that a person actual behavior is influenced by their prior behavioral intention along with beliefs that the person would have for the given behavior. They also proposed that behavioral intention is determined by a person attitude towards the actual behavior and the subjective norm 8 associated with the behavior. The person attitude is defined as a person’s positive or negative feelings about performing actual behavior. The attitude of a person can be measured by the sum of the product of all salient beliefs about consequences of performing that behavior and the evaluation of those sequences. The subjective norm is the person’s perception that most people who are important to him or her think he or she should or should not perform the behavior. The subjective norm is the sum of product of person’s normative beliefs and his or her motivation to comply. The normative beliefs are perceived expectations of other individuals or groups. Thus, Theory of Reasoned Action is an appropriate model for explaining and predicting personal behavioral intention or consumers’ purchase intentions. Belief and Evaluations Normative beliefs and Motivation to comply Attitude toward Behaviors (A) Subjective Norm (SN) Behavioral Actual Intention Behavior (BI) Figure 2.1: Theory of Reasoned Action model (Davis, Bagozzi, and Warshaw, 1989) 2.2.2 Theory of Planned Behavior – TPB The Theory of Planned Behavior (TPB) was proposed by Ajzen (1985). TPB is very similar to the TRA, except that it takes into account the perceived behavioral control (PBC). PBC is the perception of control over performance of a given behavior. PBC is determined by two beliefs which are control beliefs and perceived facilitation. Control beliefs include perceived availability of skills, resources, and opportunities. Perceived facilitation belief is the individual’s assessment of available resources to the achievement of a given set of outcomes. The perceived behavioral control construct could help identify specific barriers to system use such as limitations in users kills. 9 Behavioral beliefs and Outcome Evaluations Attitude Behavioral beliefs and Outcome Subjective Norms Behavioral beliefs and Outcome Perceived Behavioral Control Intention Behavior Figure 2.2 Theory of Planned Behavior – TPB (Ajzen, 1985) 2.2.3 Theory of Technology Acceptance Model – TAM Fred Davis proposed the Technology Acceptance Model (TAM) in 1985 when he worked on his doctoral thesis at the MIT Sloan School of Management. He suggested that actual system use is directly influenced by user’s motivation to use the system. The user’s motivation depends on system features and capabilities (Davis, 1985). Relying on TRA (Fishbein and Ajzen, 1975), Davis further refined his conceptual framework to propose the theory of Technology Acceptance Model (TAM). In this model, Davis suggested that users’ motivation is influenced by perceived ease of use, perceived usefulness, and attitude toward using the system. A person’s attitude toward using the system was considered to be the major determinant of the person actually using the system. The attitude was then influence by perceived ease of use, and perceived usefulness. Davis adapted TRA to develop his model and made two main changes. Firstly, he did not take subjective norm into account in predicting the actual behavior of a person. Secondly, he only defined two 10 beliefs which are perceived usefulness and perceived ease of use, instead of several individual salient beliefs to determine the attitude towards a given behavior. Davis defined perceived usefulness as individual perspective about using a particular system would enhance his or her job performance. Perceived ease of use was defined as individual perspective about using a particular system would be free of physical and mental effort. He thinks those two beliefs was enough for predicting individual attitude toward the use of a system. Both of these beliefs were influenced by system design characteristics which are X1, X2, and X3 in the figure below. User Motivation Perceived X1 Usefulness X2 X3 Attitude Actual Toward Using System Use Perceived Ease of Use Figure 2.3: Original TAM proposed by Fred Davis(Davis,1985,p.24). Davis, Bagozzi, and Warshaw (1989) tested the model above and they recognized that perceived usefulness had great influence on people’s intention and perceived ease of use had a small but significant influence on people’s intention. The most important finding is that both perceived usefulness and perceived ease of use influenced behavioral intention directly. Thus the final version of TAM model eliminated the need for the attitude construct from the model. 11 Perceived Usefulness External Variables Behavioral Intention Actual System Use Perceived Ease of Use Figure 2.4: Final version of TAM(Venkatesh&Davis,1996,p.453) 2.3. Antecedents of Online Purchase Intention Based on TRA, TPB, TAM, and prior studies, this study propose that perceived usefulness and perceived ease of use influence purchase intention directly. Social influence and trust influence purchase intention indirectly via mediator perceived usefulness. Technology characteristics influence purchase intention indirectly via mediator perceived ease of use. Following section will discuss about why those factors should be chosen to be the main antecedents of online purchase intention. 2.3.1 Perceived Usefulness Perceived usefulness refers to the individual’s beliefs about the usefulness of purchasing on retail websites (Guritno and Siringiringo, 2013). They also proved that perceived usefulness has a direct influence on intention to use Internet and it has stronger effect on shopping intention than perceived ease of use. Perceived usefulness is the degree to which a person believes that using internet system will enhance his/her purchasing performance. In case of eretailing, perceived usefulness is a consumer’s subjective probability thinking that Internet usage will efficiently smoothen the progress of purchase (Koufaris and Sosa, 2004). Potential consumers would want to engage in retail websites which are practical and capable to enhance their purchasing performance in searching desired products or services (Chui et al., 2005). The
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