Abstract
The purpose of the current research is to assess the influence of perceived risk on the online purchase intention of customers towards branded apparels. To discuss perceived risk, the use of five different factors was made which are product risk, time risk, social risk, security risk, and financial risk. It has evaluated the impact of these risks on online purchase intention. To collect data, a survey has been used as a method and quantitative analysis used for testing the hypothesis established. Data were collected from 20 respondents who participated in the survey online and the collected data were analyzed by using IBM SPSS Statistics 25. The findings suggest that there is an influence of perceived risk on consumers when they are purchasing branded apparel online. Two factors product and financial risk have a significant and negative influence on customers online purchase intention. However, other factors which are security, social, and time risk are insignificant. In the context of practical implications, this study would be helpful for online retailers and would provide them with an overview of the customer’s perspective regarding the risks that restrict them from purchasing branded apparel online.
Highlights
The internet growth has resulted in an increase of online shopping due to which it is third in the list of most popular activity which is followed by instant messaging and web browsing
The results indicated that product risk, financial risk, delivery risk, and information security risk have negative impact on online shopping intentions (Masoud, 2013)
This research study is aimed at determining risk factors related to perceived risk of consumers that have impact on the online buying intention towards branded apparels
Summary
The internet growth has resulted in an increase of online shopping due to which it is third in the list of most popular activity which is followed by instant messaging and web browsing. Consumers prefer online shopping because it has become an efficient means for business and communication (Kamalul Ariffin et al, 2018). It has been identified by the Internet World Stats that in 2017 there were more than 4 billion internet users it indicates 577% growth since 2000. As per current statistics shared by them, the total internet usage growth has been by 1167% from which majority internet users are in Asia forming 50.4% of the total (Internet World Stats, 2020). The Asian regions conquer the internet usage with highest internet usage along with penetration rate of 53.6%. The penetration rate of Europe is highest that is 87.2% while the internet percentage of the region is only 15.9% (Internet World Stats, 2020)
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