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Satisfaction And Regret As The Factors For Consumers Repurchase

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Abstract

Nowadays, online sales are not only very common in China, but also popular all over the world. How to determine the purchasing intention of online consumers is very important. By analyzing the purchasing behavior of online consumers, the factors of consumers’repeated purchases may be the satisfaction of goods and the brand. Loyalty and product regret will determine whether consumers buy again.

Introduction

Because China has a huge population, with the development of Internet technology, the business led by Alibaba is becoming more and more popular in China. There are many e-commerce platforms, such as Jingdong, Suning and so on. As the number of platforms available to consumers increases, so does the number of products available. In 2018, the turnover of Taobao reached 21.53 billion yuan in a single day. So understanding consumers’preferences, understanding consumers’ purchases and determining the factors that determine consumers’repurchase can increase the frequency of consumers’ repurchase. If companies can better understand their customers, they can present products or services more effectively and continuously improve them in order to strengthen their competitive advantage. According to the analysis of single Festival customer data, By analyzing the data from unotice Public Opinion System, we can get a better understanding of the specific and accurate social situation.Using quantitative research method and consumer purchase data analysis, price cheap will affect consumer satisfaction, the degree of efforts to search for other products, and the attractiveness of other alternative products will affect whether consumers regret the product and whether consumers will repeat it. Decision of next purchase.Market orientation and customer satisfaction research show there is direct connection between customer satisfaction and organizational performance (Garver and Gagnon, 2002)[1]

Research objectives

Specific survey is now China’s online consumers who are the main group, male or female, they mainly buy high-end durable goods or cheap alternatives, so as to infer their repurchase perception of goods.

Mainly understand what is the biggest problem of online operators, according to data analysis, what is the most complaint situation of consumers in single festivals, and investigate the competing products available online, so that consumers can have many choices.

Literature Review

Documents overwhelmingly describe the subjective emotional intentions of consumers, emphasizing that the main intention of consumer repurchase is the emotional dominance of consumers. Some neglect the objective factors such as the speed of express delivery during singles’Festival and the service attitude of businessmen.

Significance of the research

Customer repurchase and brand loyalty, brand emotional binding are important factors affecting product revenue. Understanding the determinants of online consumer repurchase is the purpose of this study[2]. The general scope of concern is the consumers who shop online, especially in China where online sales have become very popular. The consumers who sell online on single festivals are the main ones. In 2018, sales of Taobao Singles Day in China reached 21.53 billion yuan. Chinese people like to use Wechat and pay for Taobao, which makes online sales more convenient.At present, it is believed that the reasons affecting online consumers’repetition of purchases lie in their satisfaction with the goods and regret for the products, while the main factors affecting their satisfaction with the goods are the degree of repetition. Because of the degree of efforts to search for product information, firmness to product, loyalty to brand and emotional binding to brand. The factors affecting regret for purchasing include the degree of effort to search for products, the attraction of alternative products, and the firmness of the products. This is a theory for determining the determinants of online consumers’repeated purchases. Determining the determinants of online consumers’ repurchase in the network environment will clarify the company’s development route and marketing methods for the product. Once this factor is clear, it will increase the company’s revenue for the product and the company’s product. Product development goals.

Population and unit of analysis

The survey data were collected from the ‘2016 Double Eleventh Consumer Survey’ published by the Joint Questionnaire Network of Yibang Power Network. According to the public opinion data of Red Mai, among the people who participated in the ‘Double Eleventh’ shopping, 35.29% thought that ‘cheaper price than usual’ was one of the main factors causing shopping desire. In addition to the people who only thought that ‘Double Eleventh’ had preferential surprises, 16.72% thought that the purpose of online shopping was ‘excellent’. Vouchers; there are a few people who feel ‘fresh’ and this group accounts for 13.00%. Iculty in returning goods, and 21% of other factors. The most worrying purchasing problem for consumers on Singles’Day is business deception, with 62% of them raising the price first and then lowering the price, 45.1% worrying about less inventory, 59.1% worrying about slow delivery, 51% worrying about inconsistencies between goods and publicity, 21.6% worrying about poor after-sales service,.Men’s consumption is 48.7% and women’s consumption is 51.3% in Singles’ Day. Among them, 72.9% purchased clothing, shoes and hats, 12.9% jewelry, 38.7% electronic digital, 60.7% daily necessities, 14.4% maternal and infant products and 18.6% fresh products. Another data comes from the Red Mail Public Opinion Detection System. Red Mail Public Opinion Data shows that consumers’shopping habits generally stay longer, at least 5-15 minutes, accounting for 41.01% of the total population, while the number of shoppers who spend a long time (15-30 minutes) to select the best quality businesses is not small, accounting for 31.65%. Taobao, which has a large number of low-end customers, has become the shopping paradise, ranking first in sales performance, accounting for 29.25%. Taobao, accounting for 29.25%. Compared with 29.25%, Taobao, which has a large number of low-end customers, still has the highest attention on the website, followed by B2C websites such as Jingdong, Suning and Dangdang, which have attracted many middle and high-end users on Taobao.

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Through data analysis, Cheap price is not only the main purpose of consumers’purchase, but also an important measure of satisfaction with commodities..the time spent by consumers in searching for goods shows that most consumers’ behavior has returned to rationality, thus avoiding impulsive consumption and perceptual consumption. For a person who has no experience in online shopping, considering the purchase of goods through cost performance ratio has become the driving force of online shopping family, and reached a consensus. There is a psychological consensus that the longer consumers spend searching for goods, the more firm they are about the goods and have a sense of repurchase. The more time consumers spend searching for a product, the more confident they will be in buying it, and the more likely they will buy it back. For clothes, shoes and hats, jewellery is the least, which shows that consumers tend to purchase daily necessities, which belongs to rational consumption. Consumers are more concerned about the purchase of goods and prices, quality and reality do not match. The fraudulent behavior of merchants will directly lead consumers to abandon repurchase and regret the purchase behavior. At present, the number of online shoppers is basically the same as that of males and females. At present, consumers mostly choose Taobao. Taobao can not be replaced in the short term because of its low commodity price. However, the emergence of Jingdong, Dangdang and Jumei also attracts a large number of consumers. The variety of consumers’choices increases, which also increases the probability of regret and reduces the probability of repurchase.

Sample

The data in this paper collect from Red Mai Network Public Opinion Monitoring System (also known as unotice Public Opinion System, Red Mai Public Opinion Monitoring System) which is an innovation of Red Mai Juxin (Beijing) Software Technology Co., Ltd. in applying search engine and Chinese information processing technology to enterprise public opinion information service. According to unotice Public Opinion System’s online purchasing products for singles’day consumers, influencing factors of consumers’ purchasing, information collection of consumers’satisfaction, information analysis of the determinants of consumers’ repurchase is adopted.

Finding

The time consumers search for goods will affect consumers’decision-making

The main reasons that affect consumers’regret are that consumers are cheated, there are too many products available, and they encounter products with lower prices and better quality

Consumers’efforts to search for products will affect consumers’ satisfaction and regret for products. final decision.

Online shopping habits moderate customer satisfaction and adjusted expectations, and online shopping experience can be considered as a key driver of customer satisfaction. In addition, the results confirm that customer satisfaction is an important driving force for adjusting expectations and online repurchase intention.[3]

Woodruff argues that perceived value represents customer cognition of the nature of relational exchanges with their suppliers, and satisfaction reflects customers’ overall feeling derived from the perceived value.[4] A price-quality comparison is often viewed as a critical determinant to purchase decisions and switching behavior and consequently, can create strong exit barriers.[4]

In other words, when consumers see products that are more valuable and cheaper than what they previously saw, they give up buying back, and regret arises at the moment. On the contrary, when they get a good experience in the process of shopping, the probability of buying back is high[5].

Reference

  1. (Liu, He, Gao, & Xie, 2008)Liu, X., He, M., Gao, F., & Xie, P. (2008). An empirical study of online shopping customer satisfaction in China: a holistic perspective. International Journal of Retail & Distribution Management, 36(11), 919-940.
  2. (Chiu, Chang, Cheng, & Fang, 2009)Chiu, C.-M., Chang, C.-C., Cheng, H.-L., & Fang, Y.-H. (2009). Determinants of customer repurchase intention in online shopping. Online information review, 33(4), 761-784.
  3. Lin, C., & Lekhawipat, W. (2014). Factors affecting online repurchase intention. Industrial Management & Data Systems, 114(4), 597-611.
  4. (Clemes, Gan, & Zhang, 2014)Clemes, M. D., Gan, C., & Zhang, J. (2014). An empirical analysis of online shopping adoption in Beijing, China. Journal of Retailing and Consumer Services, 21(3), 364-375.
  5. (Li & Hong, 2013)Li, H., & Hong, J. (2013). Factors influencing consumers’ online repurchasing behavior: a review and research agenda. IBusiness, 5(04), 161.

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Satisfaction And Regret As The Factors For Consumers Repurchase. (2022, February 21). Edubirdie. Retrieved October 5, 2022, from https://edubirdie.com/examples/satisfaction-and-regret-as-the-factors-for-consumers-repurchase/
“Satisfaction And Regret As The Factors For Consumers Repurchase.” Edubirdie, 21 Feb. 2022, edubirdie.com/examples/satisfaction-and-regret-as-the-factors-for-consumers-repurchase/
Satisfaction And Regret As The Factors For Consumers Repurchase. [online]. Available at: <https://edubirdie.com/examples/satisfaction-and-regret-as-the-factors-for-consumers-repurchase/> [Accessed 5 Oct. 2022].
Satisfaction And Regret As The Factors For Consumers Repurchase [Internet]. Edubirdie. 2022 Feb 21 [cited 2022 Oct 5]. Available from: https://edubirdie.com/examples/satisfaction-and-regret-as-the-factors-for-consumers-repurchase/
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