Factors affecting the young vietnamese customers willingness to participate in fashion

VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL GRADUATION PROJECT FACTORS AFFECTING THE YOUNG VIETNAMESE CUSTOMERS’ WILLINGNESS TO PARTICIPATE IN FASHION RENTALS Nguyen Thi Thoa Hanoi, Year 2020 VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL GRADUATION PROJECT FACTORS AFFECTING THE YOUNG VIETNAMESE CUSTOMERS’ WILLINGNESS TO PARTICIPATE IN FASHION RENTALS SUPERVISOR: MBA Pham Huong Trang STUDENT: Nguyen Thi Thoa STUDENT ID: 16071115 COHORT: IB2016A MAJOR: International Business Hanoi, Year 2020 LETTER OF DECLARATION I hereby declare that the Graduation Project ―Factors affecting the young Vietnamese customers‘ willingness to participate in Fashion rentals‖ is the results of my own research and has never been published in any work of others During the implementation process of this project, I have seriously taken research ethics; all findings of this projects are results of my own research and surveys; all references in this project are clearly cited according to regulations I take full responsibility for the fidelity of the number and data and other contents of my graduation project Hanoi, 25th May 2020 Thoa Nguyen Thi Thoa ACKNOWLEDGEMENT First of all, I would like to express my deep thankfulness to my supervisor, MBA Pham Huong Trang who inspired me to this study, guided me how to make it done properly, and spent time on helping me to correct it during last time Without her enthusiasm, great passion and useful comments, I might not complete this paper within a limited time frame I also would like to express the sincerest gratitude to all the lecturers and professors of International School- Vietnam National University, who gave me the necessary knowledge about international business and other majors during four years I studied here That helped me a lot when I conducted this research Besides, I would like to say thank you to all the participants who helped me answering the questionnaire so that I can get data to the study I really appreciated those who spent time on helping me completing the survey Also, I would like to send my sincere gratitude to my families and friends for their unconditional love, perseverance, encouragement and emotional support Without them, I might not feel strong enough to finish the research Finally, I wish all the best will come to my supervisor and all the lecturers and professors of International School- Vietnam National University Wish everyone will have more happiness in life and more success in career Thank you all very much! Student, Nguyen Thi Thoa TABLE OF CONTENT TABLE OF CONTENT TABLE OF NOTATIONS AND ABBREVIATIONS LIST OF TABLE LIST OF FIGURE ABSTRACT CHAPTER 1: INTRODUCTION 1.1 Background of the study .3 1.2 The prior studies and Research gap 1.3 Research objectives and Research questions 1.4 Research method 1.5 Research findings 1.6 Structure of the study 10 CHAPTER 2: LITERATURE REVIEW 11 2.1 The sharing economy and the online fashion rental service .11 2.1.1 The basic knowledge related to sharing economy 11 2.1.2 The online fashion rental service 14 2.2 The characteristics of generation Z (gen Z) .17 2.3 Theory of planned behavior (TPB) .18 2.4 Technology acceptance model (TAM) 20 2.5 The framework and the research hypotheses 21 2.5.1 Perceived usefulness 22 2.5.2 Perceived ease of use .22 2.5.3 Interpersonal influence 23 2.5.4 Electronic word of mouth (E-WOM) credibility 24 2.5.5 Influencer marketing (KOLs) 25 2.5.6 Attitude toward behavior 25 2.5.7 Subjective norms 26 2.5.8 Perceived behavioral control 27 2.5.9 Behavioral intention 28 CHAPTER 3: RESEARCH METHODOLOGY 29 3.1 Research procedure 29 3.2 Survey as a quantitative research method 30 3.3 Questionnaire design and pilot test .30 3.3.1 Definition of items 30 3.3.2 Designing questionnaire 31 3.3.3 Pilot test 35 3.4 Sample size and data collection 35 3.5 Analyzing Data Plan .36 3.5.1 Reliability analysis by Cronbach’s alpha .36 3.5.2 Exploratory Factor Analysis (EFA) .37 CHAPTER 4: DATA ANALYSIS AND FINDINGS 40 4.1 Descriptive statistics .40 4.1.1 Respondents’ characteristic 40 4.1.2 Mean- Analysis 42 4.2 Reliability Analysis by Cronbach’s alpha 44 4.2.1 Reliability of perceived usefulness- PU scale 45 4.2.2 Reliability of perceived ease of use- PEU scale 45 4.2.3 Reliability of Interpersonal influence- II scale 46 4.2.4 Reliability of E-WOM credibility – EC scale 46 4.2.5 Reliability of Influencer marketing- IM scale 46 4.2.6 Reliability of Attitude toward behavior- AB scale 46 4.2.7 Reliability of Subjective norm- SN scale 47 4.2.8 Reliability of Perceived behavioral control- PBC scale 47 4.2.9 Reliability of Behavioral intention- BI scale 47 4.3 Exploratory Factor Analysis 48 4.4 Confirmatory Factor Analysis (CFA) 51 4.5 Structural equation modeling (SEM) 55 4.6 Bootstrapping and Hypotheses tested results 58 CHAPTER 5: DISCUSSIONS, CONCLUSIONS AND LIMITATIONS 60 5.1 Discussions .60 5.2 Contribution of the research 63 5.3 Limitations and suggestions for future research .64 REFERENCES 65 APPENDIX 1: QUESTIONNAIRE (English version) 81 APPENDIX 2: QUESTIONNAIRE (Vietnamese version) 86 APPENDIX 3: THE PRIOR STUDIES 90 APPENDIX 4: THE PRIOR STUDIES 92 TABLE OF NOTATIONS AND ABBREVIATIONS In the research, these letters are abbreviated to easy follow The below table would be described in detail Abbreviations Meaning CFA Confirmatory Factor Analysis EFA Exploratory Factor Analysis E-WOM Electronic- word of mouth GEN Z Generation Z TAM Technology Acceptance model TRA Theory of reasoned action TPB Theory of Planned Behavior LIST OF TABLE Table 1: The definition of variables 31 Table 2: Demographic information of respondents 32 Table 3: Five-point Likert scale 33 Table 4: Measuring items for questionnaire .33 Table 5: The rule of alpha value .37 Table 6: The using of factor loadings .38 Table 7: The acceptance level of Model fit .39 Table 8: The distribution of respondents‘ characteristic 40 Table 9: Descriptive statistics of 375 observations 43 Table 10: Reliability Analysis 44 Table 11: KMO and Bartlett‘s Test 48 Table 12: The Pattern Matrix 49 Table 13: Model fit summary 51 Table 14: Standardized Regression Weights 52 Table 15: the value of CR and AVE 54 Table 16: The value of AVE and MSV .54 Table 17: Regression Weights 56 Table 18: Standardized Regression Weights 57 Table 19: The order of factor‘s effect on variables 57 Table 20: Bootstrapping with sample size N= 1000 58 Table 21: Hypotheses Tested Results .58 LIST OF FIGURE Figure 1: Proposed Research Model 21 Figure 2: Research procedure 29 Figure 3: The measurement model 51 Figure 4: The structural model 55 APPENDIX 1: QUESTIONNAIRE (English version) Factors affecting the young Vietnamese customers' willingness to participate in Fashion rentals Dear Participants, My name is Nguyen Thi Thoa, I am a student of International Business at International School, Vietnam National University Currently, I am doing a research on topic : ―Factors affecting the young Vietnamese customers' willingness to participate in Fashion rentals‖ as my graduation thesis The survey that you are going to complete will provide very helpful information for me to analyze my research All collected data will be used for research purpose only Therefore, I sincerely hope that you will answer all the questions as honest as possible Thank you so much for your supporting!  Part A: Personal Information  Age: ☐ 17-20  Gender: ☐ Female  Spending for clothing compensation: ☐ Depends on parents‘ subsidy ☐ Personal income  Education level ☐ Secondary school ☐ High school  Online shopping frequently last year ☐ Rarely (20) ☐ Low (< 1hr/day) ☐ Medium (1-3hrs/ day) ☐ High (>3-5hrs/day) ☐ Very high (> 5hrs/day) 82  Part B: Measuring the construct Please kindly indicate the extent to which you agree with each of the following statements by ticking ✓ Please use the following scale to answer each statements of the survey Strongly Disagree Disagree Neither Disagree nor Agree Agree Strongly Agree Items Agreement Extent Part I - Perceived usefulness I think clothes renting is very convenient because it can quickly bring me the products that I want I think clothes renting is useful for me I think clothes renting can make me more fashionable I think I can effectively manage storage space through clothes renting Part II - Perceived ease of use 3 5 I think the way of using clothes renting is clear and highly understandable I think the learning of clothes renting is simple and easy I think I can select appropriate clothes according to my needs by renting Part III - Interpersonal influence 1 I usually receive opinions and suggestions from my parents or friends 83 My family members or friends believe that I should use clothes renting instead of buying My family members and friends‘ opinion can influence me on using clothes renting Part IV - E-WOM credibility I usually comment and give the feedback about product on social networks I usually search for previous customers‘ review on social networks before online shopping 3 5 5 I prefer shopping online products based on influencers‘ review I think the influencers‘ review have more reliability The influencers have impacts on my using clothes renting Part VI - Attitude toward behavior I think the views/feedbacks on social networking site (facebook, instagram, twitter…) influence my intention of renting clothes Part V - Influencer marketing 1 I think it is a good idea to rent clothes I think it is wise to rent clothes I enjoy renting clothes Part VII - Subjective norm I think the people who can influence my decision-making believe that I should rent clothes I think those who are important to me (peers or family members) support my renting clothes I think the E-WOM which is useful source of information support my renting of clothes I think that the influencer‘s images or review can promote my renting clothes Part VIII - Perceived behavioral control 84 I have the resources, knowledge, and ability to rent clothes I can make good use of clothes renting Everything is under my control when I rent clothes Part IX - Behavioral intention of clothes renting I choose to rent clothes rather than purchasing clothes I try to replace the purchase of clothes with the renting of clothes In the future, I will voluntarily share my thoughts on clothes renting 85 APPENDIX 2: QUESTIONNAIRE (Vietnamese version) Những yếu tố tác động đến mức độ sẵn sàng tham gia dịch vụ thuê quần áo giới trẻ Việt Nam Kính gửi anh/chị, Tơi Nguyễn Thị Thoa, sinh viên Khoa Quốc Tế- Đại học Quốc gia Hà Nội Hiện tại, thực luận văn tốt nghiệp với đề tài : ― Những yếu tố tác động đến mức độ sẵn sàng tham gia dịch vụ thuê quần áo giới trẻ Việt Nam‖ Rất mong anh/ chị giúp đỡ trả lời câu hỏi bảng khảo sát Mọi thông tin anh/chị cung cấp dùng cho mục đích học tập nghiên cứu Bởi vậy, mong anh/chị trả lời thành thật để kết khảo sát có tính thực tiễn Cảm ơn anh/chị nhiều!  Phần A: Thông tin cá nhân  Tuổi ☐ 17-20  Giới tính ☐ Nữ  Nguồn chi tiêu cho quần áo ☐ Phụ thuộc vào trợ cấp bố mẹ ☐ Thu nhập cá nhân  Trình độ học vấn ☐ Cấp ☐ 21-24 ☐ Nam ☐ Cả hai ☐ Đại học/ Cao đẳng ☐ Cấp  Tần suất mua sắm trực tuyến/ online ( năm trước đó) ☐ Hiếm (dưới 10 lần/ năm) ☐ Thường xuyên (trên 20 lần/ năm) ☐ Thỉnh thoảng (10-20 lần/ năm )  Cường độ sử dụng mạng xã hội ☐ Thấp (dưới giờ/ ngày) ☐ Trung bình (từ đến giờ/ ngày) ☐ Cao ( đến giờ/ ngày) ☐ Rất cao (trên giờ/ ngày) 86  Phần B: Nội dung đánh giá Đánh dấu ✓ vào ô thể mức độ đồng ý bạn Các mức điểm tương ứng với mức độ đồng ý không đồng ý bạn quan điểm sau: Hồn tồn khơng đồng ý Khơng đồng ý Trung lập Đồng ý Hoàn toàn đồng ý Quan điểm Mức độ Phần 1- Nhận thức hữu ích Tôi nghĩ dịch vụ thuê quần áo thuận tiện nhanh chóng mang lại cho sản phẩm muốn Tôi nghĩ dịch vụ thuê quần áo hữu ích 3 5 Tôi nghĩ cách lựa chọn quần áo thao tác sử dụng dịch vụ thuê quần áo trực tuyến dễ Tôi nghĩ việc học cách thuê quần áo đơn giản không nhiều thời gian ( người chưa sử dụng dịch vụ) Tơi nghĩ tơi chọn quần áo để thuê phù hợp theo nhu cầu Phần 3- Ảnh hưởng cá nhân (từ người thân, bạn bè,…) Tôi nghĩ dịch vụ th quần áo làm cho tơi trở nên thời trang Tơi nghĩ tơi quản lý hiệu không gian cất giữ đồ thông qua việc thuê quần áo Phần 2- Nhận thức việc dễ sử dụng 1 Tôi thường nhận ý kiến góp ý từ cha mẹ bạn bè tơi 87 Thành viên gia đình bạn bè tin nên thuê quần áo thay mua Ý kiến thành viên gia đình bạn bè ảnh hưởng đến việc sử dụng dịch vụ thuê quần áo tơi Phần 4- Sự tín nhiệm vào truyền miệng trực tuyến 3 5 5 Tôi nghĩ thuê quần áo ý tưởng tốt Tôi nghĩ nên thuê quần áo Tơi thích th quần áo Phần 7- Định mức chủ quan Tơi thích mua sắm sản phẩm trực tuyến dựa đánh giá người có sức ảnh hưởng Tơi nghĩ đánh giá nhận xét người có sức ảnh hưởng đáng tin cậy Người có sức ảnh hưởng tác động đến việc sử dụng quần áo cho thuê Phần 6- Thái độ hành vi Tơi thường bình luận đưa phản hồi sản phẩm mạng xã hội Tơi thường tìm kiếm đánh giá khách hàng trước mạng xã hội mua sắm trực tuyến Tôi nghĩ đánh giá phản hồi trang mạng xã hội (fb, ig, twitter cộng) ảnh hưởng đến ý định thuê quần áo Phần 5- Tiếp thị người có tầm ảnh hưởng 1 Tơi nghĩ người ảnh hưởng đến trình định tơi tin tơi nên thuê quần áo Tôi nghĩ người quan trọng tơi (đồng nghiệp thành viên gia đình) ủng hộ việc thuê quần áo Tôi nghĩ đánh giá mạng xã hội nguồn thông tin hữu ích hỗ trợ cho việc thuê quần áo tơi 88 Tơi nghĩ hình ảnh đánh giá người có sức ảnh hưởng thúc đẩy việc thuê quần áo Phần – Cảm nhận kiểm soát hành vi 3 5 Tơi có tài ngun ( thời gian, tiền bạc), lực kiến thức để sử dụng dịch vụ th quần áo Tơi tận dụng tốt lợi ích việc thuê quần áo Mọi thứ nằm tầm kiểm sốt tơi th quần áo Phần – Ý định sử dụng dịch vụ th quần áo 1 Tơi lựa chọn thích sử dụng dịch vụ thuê quần áo mua quần áo Trong tương lai, cố gắng thay việc mua quần áo thuê quần áo Trong tương lai, tự nguyện chia sẻ suy nghĩ việc thuê quần áo Cảm ơn hỗ trợ bạn! 89 APPENDIX 3: THE PRIOR STUDIES The prior studies related to Behavioral intention and Theory of Planned Behavior (TPB) model No Author/ Year Title Major Sultan et al (2020) Intention-behavior gap and perceived Food behavioral control-behavior gap in theory of planned behavior: moderating roles of communication, satisfaction and trust in organic food consumption Meng & Cui (2020) The role of co-creation experience in Tourism forming tourists' revisit intention to home-based accommodation: Extending the theory of planned behavior Savari & Application of the extended theory of Agricultural Gharechaee (2020) planned behavior to predict Iranian production farmers‘ intention for safe use of chemical fertilizers Murphy et al (2020) Predicting the monitoring/reading of Technology communications on a smartphone among young drivers using an extended theory of planned behavior Hossain Parash et al Examining students‘ intention to Volunteer (2020) perform voluntary blood donation activities using a theory of planned behavior: A structural equation modelling approach Knauder & Individualized student support in Koschmieder (2019) primary school teaching: A review of influencing factors using the Theory of Planned Behavior (TPB) 90 Education Rana et al (2019) The IT way of loafing in class: Information Extending the theory of planned technology, behavior (TPB) to understand Education students‘ cyberslacking intentions Liang et al (2019) Investigating factors that affect the Shared parking intention to use shared parking: A case study of Taipei City Choi & Johnson Influences of environmental and (2019) hedonic motivations on intention to purchase green products: Green Product An extension of the theory of planned behavior 10 Gabriel et al (2019) Health Belief Model Scale and Health Theory of Planned Behavior Scale to assess attitudes and perceptions of injury prevention program participation: An exploratory factor analysis 11 Liao et al (2018) Psychological and conditional factors Environmental influencing staff‘s takeaway waste protection, separation intention: An application Waste of the extended theory of planned separation behavior 12 Ru et al (2018) Exploring the effects of normative Energy- saving factors and perceived behavioral control on individual‘s energy-saving intention: An empirical study in eastern China 13 Hansen et al (2018) Risk, trust, and the interaction of Social-media perceived ease of use and behavioral usage control in predicting consumers‘ use of social media for transactions 14 Potard et al (2018) Driving under the influence of 91 Transportation alcohol and perceived invulnerability among young adults: An extension of the theory of planned behavior 15 Potard et al (2018) Sharing economy perspective on an Sharing services integrative framework of the NAM and TPB 16 Leung & Chen Extending the theory of planned Technology, (2017) behavior: A study of lifestyles, Moblie TV contextual factors, mobile viewing habits, TV content interest, and intention to adopt mobile TV 17 Hsu et al (2017) Exploring purchase intention of Green product green skincare products using the theory of planned behavior: Testing the moderating effects of country of origin and price sensitivity 18 Cristea & Gheorghiu Attitude, (2016) perceived behavioral Transportation control, and intention to adopt risky behaviors 19 Lee et al (2016) Using the Behavior Theory to of predict Planned Health pregnant women's intention to engage in regular exercise 20 Jafarkarimi et al (2016) Behavioral intention in social Social networks networking sites ethical dilemmas: An extended model based on Theory of Planned Behavior APPENDIX 4: THE PRIOR STUDIES The prior studies related to fashion rental from 2017 to 2020 No Author Year Title Research finding Method analysis 92 of data Carolin 2017 The role of Based on the theory of planned An online survey Viktori values in behavior (TPB) as well as the value- was provided with a collaborative belief-norm (VBN) theory, the study 1009 Becker- fashion provides empirical insights into how Then, Leifhol consumption consumers‘ d - A critical influence the customers‘ intention investigation through values and answers SEM construct SmartPLS was used to analyze the The results show the importance of causal relationships the attitudes, subjective norms, and between lenses of the perceived behavioral control for the TPB Theory in values, and the of understanding of consumers' behavior intention to engage Planned Besides, it also identifies the in the Behavior importance of egoistic to the intention model renting to renting clothes, whereas biospheric value orientations and altruistic value orientations not impact influence on this intention Chunmi 2017 Collaborative Based on the TPB theory, this study An online survey n Lang, consumption: identifies Cosette The influence collaborative consumption is not only collect M of Joyner leadership, Armstr need ong uniqueness, Besides, it also has emphasized the analysis and positive materialism leadership, fashion from on that an participating individual‘s in was developed to for interest and social values need for used perform of final inner datas Mplus 7.0 characteristics but also from self- were influences 431 to statistical fashion Confirmatory factor uniqueness, analysis (CFA) was female materialism on clothing renting or first conducted to consumers‘ adoption swapping In addition, the results find a better model of highlight the positive roles that for the clothing attitude, perceived behavioral control, measurement renting and and past experiences have on the each latent variable swapping of relationships between these individual Structural equation personality 93 traits and customers‘ modeling (SEM) intention was then employed to test the proposed hypotheses Jui-Che 2018 A Study on This research applied TPB to analyze The study sample Tu and the Chi- Affecting acceptance model (TAM) and the from Ling Consumers‘ innovation diffusion theory (IDT) to platform consumer Hu Willingness develop to Factors Besides, it combines perceived technology (300) was collected the usefulness, group rental AMAZE Accept perceived ease of use, compatibility, Then, this study Clothing and personal innovativeness as the used SEM for the Rentals factors that impact on attitude data analysis to According to the results, compatibility explore the causal is one of the most important factors relationship among driving consumers to have a positive the variables of the assessment and perception of online research mode The clothes renting in terms of behavior maximum and attitude Additionally, personal likelihood innovativeness has significant effects estimation Interpersonal relationship of was (MLE) adopted to subjective norms also has a significant calculate the influence, showing that consumers pay parameters, and attention was to friends‘ information LISREL8.52 sources The self-efficacy of the applied for the perceived behavioral control also has a analysis noticeable impact Chunmi 2019 Understandin This study is the first attempt to use a A text processing n Lang, g consumers‘ data-mining method to thoroughly framework Muzhe online investigate the benefits and costs of built to summarize n Li, Li fashion fashion online renting through real and Zhao renting consumers‘ feedback of three different reviews experiences: types of rental companies Based on two-step A was classify Next, a process text- the theory of customer value, both was applied in data 94 mining benefits and costs for fashion renting analysis, which approach were Latent discovered In addition, a includes comparison of the three fashion rental Dirichlet Allocation companies was also discussed (LDA) algorithms with a dictionarybased approach and word occurrence network analysis Stacy 2020 Investigating Based on two theories, the theory of After collecting 300 H.N consumer reasoned actions (TRA) and data samples of Lee, attitudes and expectancy-value approach (EVA), questionnaire, Pui-Sze intentions Chow toward online subjective norms are key predictors of analyze the model this this study found that attitudes and paper uses SEM to fashion consumers' intentions to participate in renting online fashion renting The attitudes retailing toward online fashion renting were determined by assessing customers' perceptions of its relative advantages, compatibility, ownership, and ecological value Subjective norms are reflective of other important expectations and social pressures, such as: Social influence (word of mouth) can play a significant role in shaping customers‘ intention 95 ... MAJOR: International Business Hanoi, Year 2020 LETTER OF DECLARATION I hereby declare that the Graduation Project ? ?Factors affecting the young Vietnamese customers? ?? willingness to participate in Fashion. .. data Findings: This study contributes to the extant literature concerning factors impacting the willingness of customer to participate in fashion rental Firstly, the results show that attitude toward... that notice clothes hiring or sharing clothes Therefore, this research will discuss in more detail the issues related to factors affecting customer behavior in participating in online fashion rental