WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 21, 2024
Perceived Risk and Marketing Mix Influencing Generation Y Fashion Clothes Purchasing Decisions via Online Social Media
Authors: , , ,
Abstract: Electronic technological advancements have led to an increase in online purchasing. Customers typically perceive risks while doing transactions electronically, especially when money is involved. Therefore, this research aims to investigate the perceived risk factors and marketing mix factors influencing Generation Y fashion clothing purchasing decisions made through online social media. The target sample was the Generation Y group of people aged 20 to 40 (born between 1980 to 2000) who had purchased trendy clothes over social media in the previous 6 months. A total of 400 questionnaires were obtained by delivering both online and offline. The gathered data were analyzed by descriptive statistics and multiple regression analysis. The findings revealed that psychological risk, social risk, and financial risk influenced Gen Y fashion clothing purchasing decisions through online social media. In the marketing mix, according to the findings, place, privacy, and product are the three most important elements influencing Gen Y fashion clothing purchasing decisions through online social media, with a statistical significance of .05. Several managerial implications are addressed, as well as potential research opportunities.
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Keywords: Perceived risk, Marketing mix, Purchasing decision, Fashion clothes, Generation Y, Online social media
Pages: 212-222
DOI: 10.37394/23207.2024.21.19