Abstract
Evolution of the internet has generated enough scope for marketspace in the past 10–15 years. This digital reform in the way businesses are conducted has generated a need to reexamine the factors influencing purchase intention in the context of the online platform. This paper provides an understanding of the designing of marketspace and purchase behavior in the context of most vulnerable digital natives—millennials. Data collected from Indian millennials were subjected to regression analysis, ANOVA and t-test. Findings reveal that millennials are using marketspace rationally and seeking functionality in their purchase with skepticism towards privacy. Also, marketspace should be designed keeping in mind its functionality rather than emphasizing on fun element of marketspace. Marketers who have designed their marketspace and invested in look and feel may need to motivate millennials to consider it as a deterministic attribute.
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Appendix
Appendix
Below is the questionnaire used for data collection. All the scales are standard and have been selected using the rule of parsimony. The questions except demographics are measured on a 5-point Likert scale.
Scales | Factors | Questions |
|---|---|---|
Voss et al. (2003) | Motivation | Online shopping is fun |
Online shopping is exciting | ||
Online shopping is delightful | ||
Online shopping is thrilling | ||
Online shopping is enjoyable | ||
Online shopping is helpful | ||
Online shopping is practical | ||
Online shopping is functional | ||
Online shopping is necessary | ||
Online shopping is effective | ||
Schlosser et al. (2006) | Risk | Shopping online is risky |
Providing credit card information online is risky | ||
Providing personal information (i.e., social security number and mother’s maiden name) online is risky | ||
Purchasing items online is risky | ||
Providing my e-mail address and phone number online is risky | ||
Registering online is risky | ||
It is riskier to shop online for a product than to shop offline for it | ||
Limayem et al. (2000) | Purchase Intention | I am likely to purchase a product over the Internet (in the near future) |
It is likely that the Internet will be the medium I use to make my purchases in the future | ||
I intend to use the Internet to purchase a product in the near future |
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Singh, A., Kumar, A. Designing the marketspace for millennials: fun, functionality or risk?. J Market Anal 9, 311–327 (2021). https://doi.org/10.1057/s41270-021-00104-z
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DOI: https://doi.org/10.1057/s41270-021-00104-z