A Study of Non-Resident Gen Y Chinese’s Purchase Intention of Real Estate in Panzhihua, China
DOI:
https://doi.org/10.14456/shserj.2023.6Keywords:
Real Estate, Theory of Planned Behavioral, Theory of Consumer Value, Purchase Intention, Gen YAbstract
Purpose: This quantitative research aims to investigate the factors influencing the purchase intention of non-resident Gen Y Chinese of real estate in Panzhihua, China. The conceptual framework based on theory of planned behavioral (TPB), theory of consumer value (TCV) contains seven variables, including functional value, conditional value, attitude, subjective norm, perceived behavioral control, environmental concern, and purchase intention. Research design, data and methodology: The researcher conducted online and offline questionnaire, using non-probability sampling which are purposive, quota and connivence samplings. Before the data collection, Item Objective Congruence (IOC) Index and Cronbach’s Alpha were applied to confirm validity and reliability. The research analysis involves confirmatory factor analysis (CFA) and structural equation modeling (SEM) to measure the relationships and hypotheses. Results: The results verified that that all hypotheses were supported. Two strongest relationships were found between conditional value and attitude, and perceived behavioral control and purchase intention. Conclusions: This study confirmed that the vast majority of non-resident Gen Y Chinese’ purchase intentions of real estate in Panzhihua, China are encouraged by emotional factors, which real estate developers and marketer should strategize their products, services and sales strategies to meet the needs of this specific customers’ generation.
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