CONCLUSIONS AND POLICY IMPLICATIONS
This study examines the individual’s choice between online shopping and in-store shopping for a specific type of product, books, under the applying of random utility maximization theory and the mixed logit model as the methodology. Using the data of 321 respondents is collected from both method of revealed preference and stated preference, analyzing the respondent’s trade-off between the different alternative-specific attributes of the choice model as well as the interaction between the alternative-specific attributes and social- demographic variables of shopping mode choice. Moreover, this study also investigated the willingness to pay of the respondents by considering the valuation indicator of time and cost attributes. Finally, the prediction of the probability of choosing either online shopping or in- store shopping under the change in the alternative-specific attributes.
The findings of this study can contribute a part of supporting the sellers in the two channels, online shopping and in-store shopping, of the sales strategy. The result shows that those who tend to adopt the online shopping tend to care more about the purchase price than people who shop in-store. Hence, online shoppers are more sensitive to price than those who shop in store. This implies those who decided to buy books at the stores are more willing to pay at purchase price levels, even though the store’s price is higher than the online’s price. Furthermore, most of the respondents who prefer to shop in-store have revealed in the survey that they mainly like to walk, go sightseeing, enjoy bookstore space and enjoy the atmosphere in the bookstore. They also like the feeling of holding books in their hands directly and having an experience process with books before purchasing.
Regarding the interactions between specific store choice attributes and demographic variables, the outstanding findings indicates that those who are office workers prefer to shop online than others, and those who spend more time to access the internet are more likely to shop online. Moreover, in-store shoppers with higher income are less sensitive to price than those who have lower income. For the time resource, most of the online shoppers as well as the in-store shoppers do not care about the ordering time and the shopping time.
Furthermore, online shoppers are female who care less about the delivery time than those
who are male. This is because female shoppers may be more patient waiting for the delivery.
Meanwhile, the in-store shoppers who have high income, care more about the travel time than those who have low income. This is because in-store shoppers who have higher income, they have higher the opportunity cost of time.
Additionally, the empirical findings of this study show the valuation indicators in the trade-off between time and cost attributes. In terms of attributes model only, the WTP of deilivery time affects siginificantly to the shoppers. Instead of 40 min spends for travelling to store and come back, which produces the monetary value from VND 23,857 to VND 38,560, the online shoppers are willing to pay from VND 29,710 to VND 36,065 for one day waiting for the delivery of purchased products. Regarding the interaction model, instead of travelling to store and come back (40 min), which produces the monetary value from VND 22,303 to VND 33,849, the online shoppers are willing to pay from VND 15,617 to VND 19,028 for one day delivery time.
The online sellers should consider designing an effective price strategy, such as apply frequently discount programs, the selling price of the book should be lower than the original price. The shipping fee should setup at the minimum level, may be lower than VND 15,000 of one day waiting for the delivery of purchased products. In the case of delivery time is delayed one day, an online bookstore will have to reduce the book's price by VND 15,000 to capture those who are more likely to shop in-store. The delivery time should be shortened as much as possible.
Moreover, the online sellers should intensify the implementation of online advertising programs or perform the programs related to public relations, which is run over the websites, the social network (as Facebooks, Instagram) and other applications, to capture the potential online shoppers (such as the office workers or those who have high internet access frequency as well as the in-store shoppers), and maintaining the current online shoppers. These implications may improve the consumer’s utility, therefore expanding the market share of online shopping.
Of course the time and cost attributes is not only the consumer’s interest. In addition, the attitudinal and psychological aspects also affect significantly to the choice between online shopping and in-store shopping. Such as the psychology wants to own what has been bought. In other words, the endowment effect is important to most of the
70
consumers. The consumer's concern more with respect to the convenience of payment method, the quality of books, reading books before purchasing and large variety offered products. Or the consumer services related to having the shop assistants, easiness to replace the purchased books, as well as the demands of finding old books, which are also placed an important role of the shopping mode choice. However, the online shopping continues to advance, hence the consumer’s concern as the quality of products, the security of payment and information will be eliminated in the future.
The in-store sellers also should consider the bookstore’s space, such as paying attention to the manner of presentation and product arrangement, decorating the bookstore space. Besides, arranging the reading place in the bookstore and having the diversification of product categories, to attract more potential shoppers and retain existing shoppers
Besides the noticeable findings, this study still has some limitations. The WTP of delivery time seems highly compared to the actual valuation indicators. Additionally, this study did not consider to the variety of products, such as the experience goods (clothing, grocery goods) or durable goods (electronic devices). Next, the situation of a trip to go to bookstore, this study did not control whether the purpose travel to a store only or just one of many works in a trip are often chained with shopping activities (Jou and Mahmassani, 1997), therefore the possibility of overestimating the WTP of one minute travel to bookstore. Finally, the empirical results of this study are analyzed mainly based on the stated preference data, even though the data is collected by revealed preference and stated preference technique. The stated preference method has demonstrated to be useful to calculate the willingness to pay of time and cost attributes, however, in the context of hypothetical choice scenarios, the respondents may be choose the shopping mode that they tend to prefer, regardless of the change in the alternative-specific attributes. In the upgrade version of this study, we will combine the revealed preference and stated preference data to analyze more comprehensive.
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APPENDIX
THE QUESTIONNAIRE
THÔNG TIN VỀ CUỘC KHẢO SÁT
Đưa trực tiếp cho người trả lời Lời giới thiệu:
Xin chào Anh/ Chị,
Chúng tôi xin mời Anh/Chị tham gia chương trình khảo sát của chúng tôi.
Mục đích: Mục đích của nghiên cứu này là để tìm hiểu thói quen mua sách của khách hàng.
Phương pháp: Chúng tôi xin phép được hỏi Anh/Chị một số câu hỏi về những vấn đề có liên quan đến cách thức và lựa chọn kênh mua sách. Buổi phỏng vấn dự kiến kéo dài khoảng 20 phút.
Bảo mật: Các câu trả lời của Anh/Chị sẽ được lưu trữ ẩn danh. Các thông tin cá nhân, kể cả họ tên, cũng sẽ không lưu lại.
Lợi ích khi tham gia: Anh/Chị sẽ được nhận 50.000 đồng hoặc một phần quà tương đương nếu như đồng ý tham gia cuộc khảo sát của chúng tôi và hoàn thành bảng câu hỏi.
Rủi ro: Không có rủi ro gì trong bảng câu hỏi này.
Hủy bỏ cuộc khảo sát: Việc tham gia khảo sát là hoàn toàn tự nguyện. Anh/Chị có thể ngừng tham gia cuộc khảo sát này bất cứ lúc nào. Anh/Chị cũng có thể từ chối trả lời bất cứ câu hỏi nào trong suốt quá trình phỏng vấn.
Sử dụng thông tin: Thông tin do quý Anh/Chị cung cấp sẽ được phân tích bằng các phương pháp thống kê để soạn thảo báo cáo và các bài nghiên cứu học thuật. Chúng tôi chỉ báo cáo những thông tin chung/tổng quát dưới dạng các con số thống kê. Nếu Anh/Chị hủy bỏ giữa chừng cuộc phỏng vấn, bảng câu hỏi sẽ được hủy bỏ và thông tin được cung cấp sẽ không được sử dụng để phân tích.
Tôi đồng ý tham gia cuộc khảo sát.
Ký tên: Ngày/tháng/năm
Điện thoại liên lạc:
PHẦN KIỂM SOÁT 1
PHẦN 1: THÔNG TIN CHUNG
Câu 1: Trong 12 tháng qua, bạn có mua sách ở nhà sách hoặc mua qua mạng không?
Có Không (nếu không, ngừng phỏng vấn) Câu 2: Lần mua sách gần đây nhất, bạn có phải là người ra quyết định mua không?
Có (Chuyển qua Câu 3) Không (nếu không, ngừng phỏng
vấn) Câu 3: Bạn đã mua sách bao nhiêu lần trong 12 tháng qua? lần.
Câu 4: Lần gần đây nhất bạn mua sách cách đây mấy tháng?
tháng.
Câu 5: Thông tin chung về người ra quyết định
5.1Tên người ra quyết định:
5.2Địa chỉ hiện nay:
5.3Giới tính
Nam Nữ Khác
5.4Tháng và năm sinh dương lịch của người quyết định: _/
5.5Tình trạng hôn nhân hiện tại:
Độc thân Đã kết hôn Ly hôn Khác (ly thân, mất vợ/ chồng).
5.6Người ra quyết định đã có con chưa?
Có Không
��Nếu Có, vậy đã có bao nhiêu đứa con?
5.7Trình độ học vấn (số năm đi học của người ra quyết định): _năm 5.8Nghề nghiệp của người ra quyết định:
(Mã hóa: 1 = Sinh viên, học sinh; 2 = Nhân viên văn phòng; 3 = Cán bộ viên chức; 4 = Lao động tự do;
5 = Nội trợ; 6 = Nghỉ hưu; 7 = Thất nghiệp; 8 = Khác, _) Câu 6: Thu nhập hằng tháng của bạn (VND)
a. Dưới 5 triệu b. 5-10 triệu c. 11 - 15 triệu d. 16 - 20 triệu
e. 21 - 25 triệu f. 26 - 30 triệu g. 31 - 35 triệu h. 36 - 40 triệu
i. 41 - 45 triệu k. 46 - 50 triệu l. Trên 50 triệu Câu 7: Bạn thường truy cập Internet bằng thiết bị nào? (chọn một đáp án)
a. Điện thoại di động b. Laptop, máy để bàn c. Máy tính bảngd. Khác, Câu 8: Bạn thường sử dụng Internet bao nhiêu giờ một ngày?
a. 2 – 4 giờ b. 4 – 6 giờ c. 6 – 8 giờ d. 8 – 10 giờ e. > 10 giờ
Mã số bảng câu hỏi: Ngày phỏng vấn: - - 2017
Họ và tên người phỏng vấn:
Địa điểm khảo sát:
Câu 9: Bạn có sử dụng Internet để mua sách qua mạng không?
Có Không
Câu 10: Bạn vui lòng lựa chọn mức độ quan trọng của những vấn đề sau, khi mua sách:
Hoàn toàn không quan trọng
Không quan trọng
Không quan tâm
Quan trọng
Rất quan trọng
1 2 3 4 5
1. Sở hữu được sách ngay lập tức sau khi thanh toán.
2. Có không gian rộng rãi để di chuyển, đi lại, và giao tiếp với nhiều người.
3. Có nhân viên tư vấn, giúp tìm kiếm sách.
4. Có thể đọc sách trước khi mua.
5. Dễ dàng đổi trả.
6. Thường xuyên có chương trình giảm giá.
7. Có nhiều loại hàng khác để lựa chọn ngoài sách.
Ví dụ: văn phòng phẩm…
8. Đi mua sách vì sự ngẫu nhiên, ví dụ: mua sách trong nhà sách thuộc trung tâm mua sắm, trung tâm thương mại, tiện đường,…
9. Có thể kiểm tra chất lượng sách trước khi mua (chất liệu giấy, màu giấy, rách, gãy góc sách).
10. Có dịch vụ gói quà kèm theo.
11. Có thể tìm được sách hiếm, sách cũ, sách đã qua đợt phát hành.
12. Giá sách rẻ.
13. Tiết kiệm thời gian mua.
14. Có thể so sánh giá.
15. Hình thức thanh toán tiện lợi.
16. Không phải đi lại quá xa.
17. Hạn chế tiếp xúc với nhiều người.
18. Tránh kẹt xe khi tham gia giao thông hoặc khó khăn trong việc tìm kiếm nơi đậu xe.
Câu 11: Lần gần đây nhất, bạn đã mua sách ở đâu?
a. Nhà sách ��Chuyển sang PHẦN 2 b. Qua mạng ��Chuyển sang PHẦN 3 Câu 12: Bạn quyết định mua sách vì:
a. Sở thích đọc sách.
b. Phục vụ cho chuyên môn, công việc.
c. Được bạn bè, người quen giới thiệu hay nên mua đọc.
d. Khác,