The determinants of purchase intention and willingness to pay for cosmetics and personal care products

Metin Saygili,Tolga Yalcintekin,Kadir Yildirim

doi:10.21272/mmi.2021.2-01

Abstract

This study focuses on purchase intention and willingness to pay based on consumer innovativeness, novelty seeking, and trustworthiness. In the study, the authors revealed the above in a holistic framework by emphasizing the direct relationships among the five variables. As this study focuses on consumers seeking novelty for cosmetics and personal care products in a constantly developing and growing sector, the study is different from the others and deemed necessary. This study seeks to examine the effect of consumer innovativeness, novelty seeking, and trustworthiness on purchase intention and willingness to pay for cosmetics and personal care products. It is quantitative research. The sample of the study consists of consumers aged 18 and over. The data of the study were collected from 407 people selected by convenience sampling via an online questionnaire. In the study, hypotheses were developed based on the conceptual framework and were tested via Structural Equation Modeling (SEM). The results of the study showed that consumer innovativeness had a positive effect on both purchase intention (β= 0.154; p <0.05) and willingness to pay (β = 0.317; p <0.05). While it was found that Novelty seeking had a positive effect on purchase intention (β = 0.312; p <0.05), it did not yield a statistically significant effect on willingness to pay (β = 0.018; p> 0.05). The results also indicated that trustworthiness had a positive effect on both purchase intention (β = 0.427; p <0.05) and willingness to pay (β = 0.410; p <0.05). The structural equation model employed in the study explains 55% of the variance in consumers' purchase intention and 39% of the variance in willingness to share, respectively. The research results revealed that consumer innovativeness, novelty seeking, and trustworthiness are among the important determinants of purchase intention for cosmetics and personal care products and that consumer innovativeness and trustworthiness are influential on the formation of willingness to pay for these products.

Highlights

Civilizations have always used cosmetics for beauty and health purposes in their religious rituals for centuries
The purpose of the present study is to examine the role of consumer innovativeness, novelty seeking, and trustworthiness in the formation of willingness to pay and purchase intention for brands and products in the category of personal care products
The main purpose of this study is to understand the effect of consumer innovativeness, novelty seeking, and trustworthiness on purchase intention and willingness to pay high prices for personal care products

Summary

Introduction

Civilizations have always used cosmetics for beauty and health purposes in their religious rituals for centuries. The purpose of the present study is to examine the role of consumer innovativeness, novelty seeking, and trustworthiness in the formation of willingness to pay and purchase intention for brands and products in the category of personal care products. The respondents were requested to evaluate the cosmetics and personal care products they had and asked to answer the consumer innovativeness, novelty seeking, trustworthiness, purchase intention, and willingness to pay questions based on the relevant products. A conceptual model was developed based on the abovementioned hypotheses (Figure 1) This model proposes that consumer innovativeness, novelty seeking, and trustworthiness influence purchase intention and willingness to pay for cosmetics and personal care products. The statements used for measuring the variables of consumer innovativeness, novelty seeking, trustworthiness, purchase intention, and willingness to pay, which are addressed within the scope of the study, are presented

Results

Findings

Conclusion