Factors affecting vietnamese consumer’s purchasing intention via livestream shopping

MINISTRY OF EDUCATION AND TRAINING NGUYEN TAT THANH UNIVERSITY - NGUYEN TAT THANH Phạm Phương Uyên Master’s Thesis Business Administration FACTORS AFFECTING VIETNAMESE CONSUMER’S PURCHASING INTENTION VIA LIVESTREAM SHOPPING Ho Chi Minh city, 2023 MINISTRY OF EDUCATION AND TRAINING NGUYEN TAT THANH UNIVERSITY NGUYEN TAT THANH Master’s Thesis Business Administration FACTORS AFFECTING VIETNAMESE CONSUMER’S PURCHASING INTENTION VIA LIVESTREAM SHOPPING Instructor: Nguyen Xuan Nhi, PhD Student: Pham Phuong Uyen Student number: 2100000084 Ho Chi Minh city, 2023 Acknowledgments I would like to express my deep gratitude to all the people and organizations that provided invaluable support and funding for the conduct of this research work, and the completion of this thesis My treasured dream of MBA study would not have come true without them My appreciation goes to all my lectures at the Faculty of Business Administration at Nguyen Tat Thanh University, who have wholeheartedly supported my study for years I am very grateful to them for their providing me with insightful knowledge and feedback on my literature review, research design, data collection, and writing up of this thesis Especially, I am most deeply indebted to Dr Nguyen Xuan Nhi for his indispensable role He has always been there for me to seek advice at every single step of this research work in terms of both academic expertise as well as administrative tasks Particularly in the lead-up to the submission of this thesis, Dr Nhi always promptly responded to my queries and untiringly gave comments on my thesis chapters I am grateful to the President of the University as well as the management of the education department where this case study was conducted as well as several other people who helped me gain access to the university I would also like to thank the students, lecturers, program administrator, alumni, and their employers for participating in this study I owe these people tremendously for their time and their answers to my numerous questions I would like to name and thank them individually, but for confidentiality reasons, they must remain anonymous Particularly, I would like to thank the Nguyen Tat Thanh University for their insightfol comments on my ethics clearance application In addition, I am thankful to my family members and friends, who would always extend a helping hand in times of need Mums and Dads gave tremendous assistance by looking after my daughter and son when I was busy with my data collection Statement of Authentication The work presented in this thesis is, to the best of my knowledge and belief, original except as acknowledged in the text I hereby declare that I have not submitted this material, either in full or in part, for a degree at this or any other institution Phạm Phương Uyên Table of Contents ABSTRACT 10 I INTRODUCTION 12 1.1 Importance of Study and reasons for the research 12 1.1 Significance of livestream 13 1.2 Problem statement: Revenueirate during recent years 15 1.3 Scope of the research 16 1.4 Research obj ectives 16 1.5 Research questions 17 1.6 Research methodology 17 1.7 Research contribution 17 1.8 Dissertation structure 18 II CHAPTER 2: LITERATURE REVIEW &RESEARCH MODEL 19 2.1 Conceptual background 19 2.2 Theoretical research background 20 2.2.1 Theory of reasoned action (TRA) 20 2.2.2 Theory of The Technology Acceptance Model (TAM) 21 2.2.3 Theory of Stimulus Organism Response (SOR) 23 2.2.4 Theory of Planned Behaviour (TPB) 24 2.2.5 Theory of consumer behaviour 25 2.3 2.3.1 Relevant research 26 Research by Mei Feng (2012) 26 2.3.2 Research by Lin, Hu and Lu (2017) 28 2.3.3 Research by Chen and Lin (2018) 28 2.3.4 Research by Dan and Wu (2018) 30 2.3.5 Research by Jia (2019) 31 2.3.6 Research by Xu, Qu and Cai (2020) 32 2.4 III Research model (Conceptualframework) 37 CHAPTER 3: THEORETICAL MODEL AND RESEARCH HYPOTHESES 38 3.1 Introduction 38 3.2 Development of conceptual model 38 3.3 Hypotheses development 39 3.3.1 Relationship between Customer Trust via livestream 39 3.3.2 Relationship of Perceived Value via e-conunerce shopping 41 3.3.3 Relationship between Interaction via livestream 44 3.3.4 Relationship between Attitude via livestream 45 3.3.5 Relationship between Entertainment via livestream 46 3.3.6 Relationship between Promotion via livestream 47 3.3.7 Relationship between Content via livestream 48 3.4 Qualitative study design 49 Research model (conceptual framework) 50 3.5 Qualitative research results 67 3.6 Quantitative approach 68 3.7 Scales development process 68 3.8 Research approach 72 3.9 Summary 75 Chapter 4: Result, Discussion, and Implication 76 IV 4.1.1 Descriptive statistics of the survey sample 77 4.1.2 The results of the reliability analysis of the scale 81 4.1.3 Validity testing for convergent and discriminant 81 4.1.4 The results of the analysis of the convergent value of the scale 83 4.1.5 The results of the discriminant analysis of the scale 87 4.1.6 Evaluation results of coefficient of determination R2 89 4.1.7 The resulting path coefficients and p-values of the model 91 4.2 Discussing research results 93 4.2.1 Relationship between Interaction with Trust, Perceived value, Attitude 93 4.2.2 Relationship between Promotion and Trust, Perceived value Attitude 93 4.2.3 Relationship between Entertainment and Trust, Perceived value, Attitude 94 4.2 Relationship between Content and Trust, Perceived value, Attitude 95 4.2.5 Relationship between KOLs and Trust, Perceived value, Attitude 95 4.2.6 Relationship between Trust and Purchase intention via livestream 96 4.2.7 Relationship between Attitude and purchase intention via livestream 96 4.2.8 Relationship between Perceived value and purchase intention via livestream 97 V Conclusion and managerial implications 98 5.1 Conclusion 98 5.2 Managerial implications 100 5.2.1 Improve interactivity and quality of content during product introduction 100 5.2.2 Increasing key opinion leaders' (kols) impact 100 5.2.2 Improve the factor of entertainment in livestream process 101 5.2.3 Implementing promotions and putting a priority on product quality 102 5.2.4 Implementingthe consumer’s trust 103 5.2.5 Introduce high quality products to enhance consumer perceived value 103 5.3 Limitations of the topic 104 Reference 105 10 ABSTRACT Vietnamese e-commerce platforms have rapidly been renovated and expanded in recent years to offer customers the optimum purchasing experiences Livestream is currently being aggressively marketed as one of the alternative offerings within all platforms The aim of the research, "Factors affecting Vietnamese consumer’s purchasing intention via livestream shopping.," was to identify the influencing factors and degree to which livestreaming affected consumers' purchasing intentions Based on the study's findings, recommendations were made regarding the most effective way to manage the economic expansion of livestream e-commerce The research model was based on Stimulus Response Theory - SOR Between March 2022 and 2023, data was collected using the Likert scale, which ranges from One (strongly disagree = 1) to Five (strongly agree = 5) The research collected and examined 224 samples from individuals who had observed livestream trading using quantitative data analysis According to research, the intermediate variables of Trust, Perceived value, and Attitude are all influenced by the independent variables of Interaction, Promotion, Entertainment, Content, and Key opinion leader All these elements influence viewers' purchasing intentions while using livestream e-commerce Findings from an analysis utilizing the SmartPLS PLS-SEM approach reveal: First, when it comes to their purchasing intention on e-commerce livestream, interaction, entertainment, content, and the opinion leader have a favourable association with customer trust Promotion has a statistically insignificant impact on customer confidence when they make streamed purchases Second, Interaction, Entertainment, Content and Key Opinion Leader are in positive correlation with consumer’s Perceived Value when buying via livestream Promotion and the consumer's perceived functional value while making purchases on livestream have relatively irrelevant correlations 137 Scale 5 5 138 I will buy because the product only has a special price during the livestream 5 5 During the livestream, promotions caught my attention I will continue to follow because there are vouchers, gifts, or lucky draws in the livestream During the livestream, the more promotions the seller has, the more I intend to buy Entertainment 139 Watching a livestream is entertaining 10 Watching a livestream relaxes me 11 Watching a livestream gives me pleasure 5 5 Content 12 I think the hvestream introduces the product in the most comprehensive and vivid way 13 Livestream helps me buy the product I like more effectively 14 Livestream provides a lot of information to help 140 me make a better decision when buying MC 15 The more professional the MC, the more I trust the product 16 The more MC's knowledge about the product, the more I trust the quality of the product MC introduces 17 The more influential the MC in a product-related field, the more I trust in the product 18 1 The more an MC has a certain reputation in society, the more secure the product they recommend is Trust 5 5 141 19 I trust sellers via livestream 21 I trust the information that the livestream MC provides 22 5 5 The seller via livestream will try to support and help me when having trouble Perceived value 23 During the livestream, I believe the product MC introduced is of good quality 24 Given the time I need to spend doing it, watching a livestream is worthwhile to me 142 25 Watching livestreams provides me with a lot of enjoyment or gives me happiness 5 5 Emotion 26 During the livestream, I think the quality of the product MC introduced is trustworthy 27 During the livestream, when introducing the product, the MC gave me a feeling of excitement 28 During the livestream, when introducing the product, the MC made me feel recognized by others 143 Attitude I think watching live stream is a good idea I have a positive attitude towards watching livestreams I like watching livestream Purchasing intention Maybe I will buy through livestream 32 Maybe I will recommend to friends and relatives 144 to purchase goods via livestream 34 After this I will watch livestream and buy products 145 QUANTITY ANALYSIS RESULT BY SMARTPLS Construct Reliability and Validity Cronbach's Alpha Perceived value (PV) Attitude (ATT) Entertainment (ENT) Promotion (PRM) Composite Reliability Average Variance Extracted (AVE) 0.882 0.927 0.809 0.947 0.966 0.905 0.884 0.927 0.810 0.887 0.922 0.747 MC 0.880 0.917 0.735 Trust 0.886 0.930 0.816 Content 0.882 0.927 0.809 0.838 0.892 0.673 0.935 0.959 0.885 Interaction (INT) Purchasing intention (PI) 146 Outer Loadings Interaction INTI INT2 INT3 INT4 PRM1 PRM2 PRM3 PRM4 ENT1 ENT2 ENT3 CT1 CT2 CT3 MCI MC2 MC3 MC4 TRS1 TRS2 TRS3 ATT1 ATT2 Promotion Entertainment Content MC Attitude Trust 0.845 0.810 0.790 0.837 0.842 0.871 0.885 0.859 0.878 0.924 0.898 0.880 0.917 0.901 0.852 0.870 0.881 0.826 0.926 0.929 0.853 0.943 0.960 Perceived value Purchasing intention 147 Interaction Promotion Entertainment ATT3 PV1 PV2 PV3 PI1 PI2 PI3 Content MC Trust Attitude Perceived value Purchasing intention 0.950 0.895 0.922 0.881 0.935 0.945 0.943 Discriminant Validity 148 Forneli-Larcker Criterion Perceived value Attitude Entertainment Promotion MC Trust Content Interaction Perceived value 0.900 Attitude 0.731 0.951 Entertainment 0.679 0.549 0.900 Promotion 0.608 0.522 0.546 0.865 MC 0.630 0.590 0.496 0.571 0.857 Trust 0.754 0.839 0.627 0.550 0.650 0.903 Contents 0.686 0.654 0.606 0.631 0.643 0.723 0.900 Interaction 0.642 0.557 0.569 0.504 0.546 0.602 0.652 0.821 0.718 0.721 0.592 0.629 0.631 0.748 0.735 0.594 Purchasing intention Source: Purchasing intention 0.941 149 Evaluation of the structural model Collinearity Statistics (VIF) Outer VIF Values VIF Sil SI2 SI3 SI4 PRM1 PRM2 PRM3 PRM4 ENT1 ENT ENT CT1 CT2 CT3 MCI MC2 MC3 MC4 PV1 PV2 PV3 ATT1 ATT2 ATT3 TRS1 TRS2 TRS3 PI1 PI2 PI3 Quality Criteria R Square 1.977 1.752 1.716 1.964 2.363 2.600 2.767 2.486 2.601 3.344 2.224 2.177 2.860 2.615 2.218 3.033 3.138 2.074 2.483 2.991 2.244 4.200 5.672 4.991 3.401 3.558 1.960 3.744 4.234 4.094 150 R Square 0.644 0.512 0.625 0.627 Perceived Value Attitude Trust Purchasing Intention R Square Adjusted 0.636 0.500 0.617 0.622 Bootstrapping Model Result (Sample size 5000): Path Coefficients Mean, STDEV, T-Values, P-Values Original Sample Standard Sample Mean Deviation T Statistic (M) (STDEV) (O) Perceived value -> Purchasing intention Attitude -> Purchasing intention via livestream Entertainment -> Perceived value Entertainment -> Attitude Entertainment -> Trust Promotion -> Perceived value Promotion -> Trust MC -> Perceived value MC -> Purchasing intention MC -> Trust Trust -> Purchasing intention via livestream Content -> Attitude Content -> Perceived value Content -> Trust Interaction -> Attitude Interaction -> Attitude Interaction -> Trust p Values 0.310 0.311 0.071 4.345 0.000 0.216 0.213 0.093 2.317 0.021 0.300 0.155 0.226 0.060 0.010 0.192 0.218 0.250 0.299 0.162 0.226 0.061 0.012 0.192 0.219 0.252 0.060 0.077 0.070 0.075 0.072 0.064 0.074 0.062 5.010 2.028 3.226 0.794 0.138 3.000 2.926 4.066 0.000 0.043 0.001 0.427 0.890 0.003 0.003 0.000 0.335 0.335 0.093 3.600 0.000 0.178 0.302 0.352 0.185 0.125 0.103 0.178 0.296 0.349 0.190 0.122 0.103 0.071 0.078 0.070 0.069 0.068 0.056 2.542 3.877 5.023 2.710 1.812 1.834 0.011 0.000 0.000 0.007 0.070 0.067