Abstract
Various factors affect consumer behavior differently, such as brand loyalty or purchase intention. Among influence factors of consumer behavior, perceived risk like price fluctuation or the change in fashion trend affects the purchase intention of fashion consumers. It also influences consumer behavior that is formed differently according to the culture. Therefore, the study aimed to investigate the role of perceived risk on the influence of brand loyalty to the purchase intention. Also, the difference in structural paths on Korean and Chinese fashion consumers was examined. For empirical analysis, SPSS21.0 and AMOS21.0 were used, and frequency analysis, exploratory factor analysis, reliability analysis, confirmatory factor analysis, structural equation modeling, metric invariance test, and multiple-group comparison analysis were performed. As a result of the structural equation modeling, brand loyalty significantly influenced on the perceived risk, but the perceived risk was not affected purchase intention. Also, brand loyalty positively affected purchase intention as the result of various previous research. As a result of multiple-group comparison analysis, it was revealed that there was a significant difference in consumer behavior of Korean and Chinese fashion consumers. As a result of Korean fashion consumers, brand loyalty did not affect perceived risk, and perceived risk also had an insignificant effect on the purchase intention, but brand loyalty positively affected the purchase intention. In other words, the perceived risk did not play a mediating role between brand loyalty and purchase intention on Korean fashion consumers. About the result of Chinese consumers, brand loyalty significantly influenced the perceived risk, but the perceived risk was not affected purchase intention. Furthermore, brand loyalty significantly affected the purchase intention as a result of Korean fashion consumers. So it will be necessary for Korean fashion consumers to develop marketing strategy of improving brand loyalty. And it will be effective for Chinese fashion consumers to develop marketing strategy to lessen perceived risk.
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