Conversion of online purchase intention into actual purchase: the moderating role of transaction security and convenience
Abstract
Online retail trade in Indonesia has grown dramatically in recent years. However, it is not being followed by an increase in the transaction completion ratio, with a cart abandonment rate of up to 70 percent. This indicates that the transition from online purchase intention to actual purchase is not as simple as postulated in the theory of planned behaviour (TPB); yet, there are other factors moderating the conversion. Therefore, this study aims to develop a model analysing the moderating role of perceived transaction security and convenience in the relationship between online purchase intention and actual purchase. Model development was also motivated by critics regarding TPB’s robustness in explaining consumer purchase behaviour; therefore, this model is expected to enrich TPB by providing a more comprehensive picture in online purchase behaviour. The sample consisted of consumers who had shopped for retail products online. The proposed relationship was tested with partial least square method. Results showed that perceived transaction convenience has a positive and significant moderating effect, whereas perceived transaction security showed an insignificant moderating impact. This finding is noteworthy amid risky online purchase environment. Respondents’ characteristics and alternative payment methods might explain the insignificant moderation. As a practical implication, it is recommended that online retailers improve online transaction convenience to increase the conversion rate.
Keyword : transaction security, transaction convenience, online purchase intention, actual purchase, online retail industry, online purchase behaviour
How to Cite
Indiani, N. L. P., & Fahik, G. A. (2020). Conversion of online purchase intention into actual purchase: the moderating role of transaction security and convenience. Business: Theory and Practice, 21(1), 18-29. https://doi.org/10.3846/btp.2020.11346
This work is licensed under a Creative Commons Attribution 4.0 International License.
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Cramer, D., & Howitt, D. (2004). The SAGE dictionary of statistics (1st Ed.). London: SAGE Publication Ltd. https://doi.org/10.4135/9780857020123
Cunningham, S. M. (1967). The major dimension of perceived risk. Risk taking and information handling in consumer behavior (pp. 82-108). Harvard University Press.
Cunningham, L. F., Gerlach, J. H., Harper, M. D., & Young, C. E. (2005). Perceived risk and the consumer buying process: internet airline reservations. International Journal of Service Industry Management, 16(4), 357–372. https://doi.org/10.1108/09564230510614004
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Festinger, L. (1957). A theory of cognitive dissonance. Stanford CA: Stanford University Press.
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Guo, Y., & Barnes, S. (2011). Purchase behavior in virtual worlds: an empirical investigation in second life. Information and Management, 48, 303–312. https://doi.org/10.1016/j.im.2011.07.004
Hair, Jr J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis a global perspective (7th ed.). New Jersey: Pearson Education.
Hijrah, L. (2017). Segmentasi konsumen pada pasar online di Indonesia. Forum Ekonomi, 19(2), 210–219. http://journal.feb.unmul.ac.id/index.php/FORUMEKONOMI
Hsieh, J. Y., & Liao, P. W. (2011). Antecedents and moderators of online shopping behavior in undergraduate students. Social Behavior and Personality, 39(9), 1271–1280. https://doi.org/10.2224/sbp.2011.39.9.1271
Indiani, N. L. P., Rahyuda, I. K., Yasa, N. N. K., Sukaatmadja IPG. (2015). Perceived risk and trust as major determinants of actual purchase, transcending the influence of intention. ASEAN Marketing Journal, 7(1), 1–13. https://doi.org/10.21002/amj.v7i1.4601
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Kim, J. H., & Lennon, S. J. (2010). Information available on a website: effects on consumer’s shopping outcomes. Journal of Fashion Marketing and Management, 14(2), 247–262. https://doi.org/10.1108/13612021011046093
Kim, J., Lennon, S. J. (2013). Effects of reputation and website quality on online consumers’ emotion, perceived risk and purchase intention. Journal of Research in Interactive Marketing, 7(1), 33–56. https://doi.org/10.1108/17505931311316734
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Kowalska, M. (2012). The internet impact on market behavior of young consumers. Journal of International Studies, 5(1), 101–106. https://www.jois.eu/files/KowalskaV5_N1.pdf
Lee, H. H. H., Au, N., & Law, R. (2013). Presentation formats of policy statements on hotel websites and privacy concerns: a multimedia learning theory perspective. Journal of Hospitality and Tourism Research, 37(4), 470–489. https://doi.org/10.1177/1096348012436384
Lendel, V., & Varmus, M. (2015). Proposal of innovative approaches of relationship marketing in business. Business: Theory and Practice, 16(1), 63–74. https://doi.org/10.3846/btp.2015.434
Lim, W. M. (2013). Toward a theory of online buyer behavior using structural equation modeling. Modern Applied Science, 7(10), 34–42. https://doi.org/10.5539/mas.v7n10p34
Lin, W. B. (2008). Construction of on-line consumer behavior models: a comparative study of industries in Taiwan. International Journal of Commerce and Management, 18(2), 123–149. https://doi.org/10.1108/10569210810895221
Ling, K. C., Daud, D. B., Piew, T. H., Keoy, K. H., & Hassan, P. (2011). Perceived risk, perceived technology, online trust for the online purchase intention in Malaysia. International Journal of Business and Management, 6(6), 167–182. https://doi.org/10.5539/ijbm.v6n6p167
Liu, C., & Forsythe, S. (2010). Post-adoption online shopping continuance. International Journal of Retail and Distribution Management, 38(2), 97–114. https://doi.org/10.1108/09590551011020110
Liu, M. T., Brock, J. L., Shi, G. C., Chu, R., & Tseng, T. H. (2013). Perceived benefits, perceived risk, and trust. Asia Pacific Journal of Marketing and Logistics, 25(2), 225–248. https://doi.org/10.1108/13555851311314031
Lowry, P. B., Moody, G., Vance, A., Jensen, M., Jenkins, J., & Wells, T. (2012). Using an elaboration likelihood approach to better understand the persuasiveness of website privacy assurance cues for online consumers. Journal of The American Society for Information Science and Technology, 63(4), 755–776. https://doi.org/10.1002/asi.21705
Marketeers. (2018). Lima kota Indonesia dengan jumlah pemb-elanja online terbesar. http://marketeers.com/lima-kota-indo-nesia-dengan-jumlah-pembelanja-online-terbesar/
Mei, J. Y., Nan, Z. Y., Ping, Z. W. (2011, 6–8 May). Decision model research of customer first online shopping based on reference group influence. In 2011 International Conference on E-Business and E-Government (ICEE). Shanghai. https://doi.org/10.1109/ICEBEG.2011.5881762
Monsuwe, T., Dellaert, B. G. C., & de Ruyter, J. C. (2004). What drives consumers to shop online? A literature review. International Journal of Service Industry Management, 15(1), 102–121. https://doi.org/10.1108/09564230410523358
Mullikin, J. L. (2003). Beyond reference price: understanding consumer’s encounter with unexpected prices. Journal of Product & Brand Management, 12(3), 140–153. https://doi.org/10.1108/10610420310476906
Negra, A., & Mzoughi, M. N. (2012). How wise are online procrastinators? A scale development. Internet Research, 22(4), 426–442. https://doi.org/10.1108/10662241211250971
Nepomuceno, M. V., Laroche, M., Richard, M. O., & Eggerd, A. (2012). Relationship between intangibility and perceived risk: moderating effect of privacy, system security and general security concern. Journal of Consumer Marketing, 29(3), 176–189. https://doi.org/10.1108/07363761211221701
Ozkan, S., Bindusara, G., & Hackney, R. (2010). Facilitating the adoption of e-payment systems: theoritical constructs and empirical analysis. Journal of Enterprise Information Management, 23(3), 305–325. https://doi.org/10.1108/17410391011036085
Park, C., & Jun, J. K. (2003). A cross-cultural comparison of internet buying behavior. International Marketing Review, 20(5), 534–553. https://doi.org/10.1108/02651330310498771
Park, C. H., & Kim, Y. G. (2006). The effect of information satisfaction and relational benefit on consumers online site commitments. Journal of Electronic Commerce in Organizations, 4(1), 70–90. https://doi.org/10.4018/jeco.2006010105
Putri, A. (2016, November). Survei E-commerce Indonesia. SWA, 24, 42–45. https://doi.org/10.25124/liski.v3i1.805
Rajamma, R. K., Paswan, A. K., & Hossain, M. M. (2009). Why do shoppers abandon shopping cart? Perceived waiting time, risk, and transaction inconvenience. Journal of Product and Brand Management, 18(3), 188–197. https://doi.org/10.1108/10610420910957816
Raman, A., & Annamalai, V. (2011). Web services and e-shopping decisions: a study on Malaysian e-Consumer. IJCA Special Issue on: Wireless Information Networks & Business Information System, 2, 54–60. https://www.researchgate.net/publication/286456862_Web_Services_and_e-Shopping_Decisions_A_Study_on_Malaysian_e-Consumer
Roy, S., Raju, A., & Mandal, S. (2017). An empirical investigation of e-retailer agility, customer satisfaction, commitment, and loyalty. Business: Theory and Practice, 18, 97–108. https://doi.org/10.3846/btp.2017.011
Sahney, S., Ghosh, K., & Shrivastava, A. (2013). Conceptualizing consumer trust in online buying behavior: an empirical inquiry and model development in Indian context. Journal of Asia Business Studies, 7(3), 278–298. https://doi.org/10.1108/JABS-Jul-2011-0038
Sarwono, J. (2013). 12 Jurus Ampuh SPSS untuk Riset Skripsi (1st ed.). Jakarta: Elex Media Computindo.
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