Determining Influence of Buyers’ Preferences, Expected Future Value, and Perceived Value on Gold Ornament Purchase Intention in Myanmar

Abstract

In Myanmar, the demand for gold ornaments has been increasing after the global economic crisis had less impact on gold prices. The purpose of this study was to investigate factors influencing customers’ purchasing intention of gold ornaments. Data collected from 385 respondents in Myanmar was analyzed by non-probability sampling methods to collect data from online questionnaires conducting quantitative research methodologies including multiple linear regression and descriptive data analysis. The results revealed that there are nine major factors that are significantly influenced customers’ intention to purchase gold ornaments. These factors are buyer’s preference, buying on occasions, self-gift, gift-giving, expected future value, future value increasing, one type of investment, secure for future need and perceived value. These results can help gold retailers to develop appropriate marketing strategies and enhance business success in changing environments. Purpose The purpose of this study is to study the influence of buyer’s preference, buying on occasions, self-gift, gift-giving, expected future value, future value increasing, one type of investment, secure for future need and perceived value on gold purchase intention in gold industries in Myanmar. Design/Methodology/Approach – this research is to determine the factors that influence gold purchase intention by using quantitative analysis to conduct a research based on online questionnaires. In the construction of the conceptual framework for this investigation, ten discrete independent variables are considered, encompassing buyer’s preferences, buying on occasions, self-gift, gift-giving, expected future value, future value increasing, one type of investment, secure for the future need, perceived value, in conjunction with a sole dependent variable—gold purchase intention. Furthermore, the research employs statistical analysis tools such as JAMOVI to evaluate the research hypotheses. Moreover, tools such as JAMOVI would be applied to test the hypotheses of the research. Findings – The results from the hypotheses testing result illustrated the most important factors influencing gold purchase intention in Myanmar, which is gift-giving with the greatest beta value .286, followed by secure for future need, one type of investment, expected future value, buyers’ preference, and lastly perceived value, with the number of .232, .197, .117, .075 and .025 respectively. Research Limitations/Implications – There are several limitations in investigating the influencing factors on gold purchase intention in Myanmar in gold industries such as the target location is in Myanmar and meeting personally with the customers was impossible then need to conduct with difficulty online surveys. Originality/value – This research is focused on analyzing the variables that influence customer purchase intention in gold industries in Myanmar.