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Authors:
Kadir Yildirim, ORCID: https://orcid.org/0000-0002-3122-9356 Sakarya University (Turkey) Metin Saygili, ORCID: https://orcid.org/0000-0001-6920-822X Sakarya University of Applied Sciences (Turkey) Tolga Yalcintekin, ORCID: https://orcid.org/0000-0001-7118-0705 (Turkey)
Pages: 11-24
Language: English
DOI: https://doi.org/10.21272/mmi.2021.2-01
Received: 20.03.2021
Accepted: 14.06.2021
Published: 26.06.2021
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Abstract
This study focuses on purchase intention and willingness to pay based on consumer innovativeness, novelty seeking, and trustworthiness. In the study, the authors revealed the above in a holistic framework by emphasizing the direct relationships among the five variables. As this study focuses on consumers seeking novelty for cosmetics and personal care products in a constantly developing and growing sector, the study is different from the others and deemed necessary. This study seeks to examine the effect of consumer innovativeness, novelty seeking, and trustworthiness on purchase intention and willingness to pay for cosmetics and personal care products. It is quantitative research. The sample of the study consists of consumers aged 18 and over. The data of the study were collected from 407 people selected by convenience sampling via an online questionnaire. In the study, hypotheses were developed based on the conceptual framework and were tested via Structural Equation Modeling (SEM). The results of the study showed that consumer innovativeness had a positive effect on both purchase intention (β= 0.154; p <0.05) and willingness to pay (β = 0.317; p <0.05). While it was found that Novelty seeking had a positive effect on purchase intention (β = 0.312; p <0.05), it did not yield a statistically significant effect on willingness to pay (β = 0.018; p> 0.05). The results also indicated that trustworthiness had a positive effect on both purchase intention (β = 0.427; p <0.05) and willingness to pay (β = 0.410; p <0.05). The structural equation model employed in the study explains 55% of the variance in consumers’ purchase intention and 39% of the variance in willingness to share, respectively. The research results revealed that consumer innovativeness, novelty seeking, and trustworthiness are among the important determinants of purchase intention for cosmetics and personal care products and that consumer innovativeness and trustworthiness are influential on the formation of willingness to pay for these products.
Keywords: consumer innovativeness, cosmetics, personal care products, novelty seeking, purchase intention, trustworthiness, willingness to pay.
JEL Classification: M30, M31.
Cite as: Yildirim, K., Saygili, M., & Yalcintekin, T (2021). The determinants of purchase intention and willingness to pay for cosmetics and personal care products. Marketing and Management of Innovations, 2, 11-24. https://doi.org/10.21272/mmi.2021.2-01
This work is licensed under a Creative Commons Attribution 4.0 International License
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