Factors affecting online shopping behavior of Banking University students during the Covid 19 pandemic, 2021

STATE BANK OF VIETNAM MINISTRY OF EDUCATION AND TRAINING

BANKING UNIVERSITY OF HO CHI MINH CITY

NGUYEN DO NGOC TRAN

(Student code: 030633171432)

FACTORS AFFECTING ONLINE SHOPPING BEHAVIOR OF

BANKING UNIVERSITY STUDENTS DURING THE COVID 19

PANDEMIC

GRADUATE THESIS

MAJOR: BUSINESS ADMINISTRATION

CODE: 52340101

SUPERVISOR

PhD. NGUYEN VAN THICH

HO CHI MINH CITY, 03 – 2021

STATE BANK OF VIETNAM MINISTRY OF EDUCATION AND TRAINING

BANKING UNIVERSITY OF HO CHI MINH CITY

NGUYEN DO NGOC TRAN

(Student code: 030633171432)

FACTORS AFFECTING ONLINE SHOPPING BEHAVIOR OF

BANKING UNIVERSITY STUDENTS DURING THE COVID 19

PANDEMIC

GRADUATE THESIS

MAJOR: BUSINESS ADMINISTRATION

CODE: 52340101

SUPERVISOR

PhD. NGUYEN VAN THICH

HO CHI MINH CITY, 03 – 2021

1

ABSTRACT

The study discusses the factors affecting the online shopping behavior of banking

university students during Covid 19 based on Ajzen and Fishbein's Theory of Reasoned

Action (1980), Theory of Planned Behavior Theory of Planned Behavior-TPB) by Ajzen

(1991) along with domestic and foreign referenced research articles on online shopping

behavior such as: Ha Ngoc Thang (2016), Nguyen Le Phuong Thanh (2013), Javadi et al

(2012), Neger and Uddin (2020), Alhaimer (2021). The questionnaire was posted to student

groups of Banking University of Ho Chi Minh City. The responses from students obtained

through the questionnaire will be recorded through the researcher's email address. After 1

month of collection, 160 valid responses were included in the analysis. Data is analyzed

according to the process from factor analysis to reliability test and regression analysis. The

results show that, subjective norm has the most important significance for online shopping

behavior (with the largest coefficient), followed by attitude and perceived behavioral

control, respectively.

2

ACKNOWLEDGEMENT

Thesis is study my own research results are honest, while no content has been previously

published or content by others made except citations citation fully in the thesis.

To complete this article, first of all, I would like to express my deepest gratitude to PhD.

Nguyen Van Thich - who wholeheartedly guided and helped me to complete this research.

Because of my limited knowledge, in the process of researching, I inevitably make

mistakes, and I would like to receive suggestions from teachers.

3

TABLE OF CONTENTS

CHAPTER 1: GENERAL OVERVIEW....................................................................... 10

1.1. Background......................................................................................................... 10

1.2. The urgency of the topic .................................................................................... 11

1.3. Research objectives............................................................................................ 12

1.4. Research question .............................................................................................. 12

1.5. Research object and Research scope................................................................ 12

1.6. Research Methods.............................................................................................. 13

1.7. Research content ................................................................................................ 14

1.8. Research contribution ....................................................................................... 14

1.9. Structure of research ......................................................................................... 15

CHAPTER 2: LITERATURE REVIEW...................................................................... 16

2.1. Basic Concepts.................................................................................................... 16

2.1.1. Online shopping concept .......................................................................... 16

2.1.2. Concept of consumer behavior................................................................. 16

2.1.3. Consumer decision-making process......................................................... 17

2.2. General theories and research models of consumer behavior....................... 19

2.2.1. Theory of Reasoned Action – TRA........................................................... 19

2.2.2. Theory of Planned Behavior – TPB......................................................... 20

2.3. Factors affecting online shopping behavior: ................................................... 21

2.3.1. Attitude ...................................................................................................... 21

2.3.2. Price........................................................................................................... 22

2.3.3. Subjective norms....................................................................................... 22

4

2.3.4. Perceived behavioral control .................................................................... 23

2.3.5. Perceived risk ............................................................................................ 23

2.4. Overview of research ......................................................................................... 24

2.4.1. Domestic research..................................................................................... 24

2.4.2. Foreign research....................................................................................... 27

2.4.3. Proposed research model.......................................................................... 30

CHAPTER 3: METHODOLOGY ................................................................................. 32

3.1. Research design.................................................................................................. 32

3.1.1. Method of building a scale ....................................................................... 32

3.1.2. Research scale........................................................................................... 33

3.2. Choose a sample ................................................................................................. 39

3.2.1. Overall ....................................................................................................... 39

3.2.2. Method of sampling .................................................................................. 39

3.2.3. Sample size ................................................................................................ 40

3.2.4. Information gathering .............................................................................. 40

3.2.5. Information gathering process................................................................. 40

3.3. Statistical data analysis technique.................................................................... 41

3.3.1. Testing the reliability of a scale................................................................ 41

3.3.2. Testing the reliability of the model........................................................... 41

3.3.3. Correlation coefficient and regression analysis...................................... 42

3.4. Conclusion of chapter 3 ..................................................................................... 42

CHAPTER 4: FINDING................................................................................................. 44

4.1. Data analysis ......................................................................................................... 44

4.1.1. Unsuitable answer sheets.......................................................................... 44

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4.1.2. Data encryption......................................................................................... 44

4.2. Sample discription ................................................................................................ 45

4.3. Reliability analysis and appropriate scale.......................................................... 54

4.3.1. Testing of scale reliability by Cronbach's alpha coefficient ................... 55

4.3.2. Exploratory factor analysis EFA ............................................................. 60

4.3.3. Testing of models and hypotheses............................................................ 68

4.4. Summary of research results ............................................................................ 72

CHAPTER 5: CONCLUSION AND RECOMMENDATION.................................... 74

5.1. Conclusion........................................................................................................... 74

5.2. Recommendations and suggestions..................................................................... 75

5.3. Research limit ....................................................................................................... 76

REFERENCE................................................................................................................... 78

APPENDIX 1.................................................................................................................... 82

APPENDIX 2.................................................................................................................... 89

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LIST OF ABBREVIATIONS

Abbreviation Original

HCMC Ho Chi Minh city

TRA Theory of reasoned action

TPB Theory of planned behavior

IT Information Technology

A Attitude

P Price

SN Subjective norms

PBC Perceived behavioral control

PR Perceived risk

OSB Online shopping behavior

7

TABLE LIST

Table 3. 1 Summary of scale ............................................................................................. 37

Table 4. 1: Statistics for gender.........................................................................................45

Table 4. 2: Statistics for school year ................................................................................. 45

Table 4. 3: Statistics for major .......................................................................................... 46

Table 4. 4: Statistics for income ........................................................................................ 47

Table 4. 5: Statistics for How long have you been using Internet..................................... 48

Table 4. 6: Statistics for How many hours in a day do you use the Internet..................... 48

Table 4. 7: Statistics for shopping sites do you usually buy during Covid? ..................... 49

Table 4. 8: Statistics for products do you usually buy when shopping online .................. 49

Table 4. 9: Descriptive Statistics for Attitude ................................................................... 50

Table 4. 10: Descriptive Statistics for Price ...................................................................... 51

Table 4. 11: Descriptive Statistics for Subjective norms .................................................. 51

Table 4. 12: Descriptive Statistics for Perceived behavioral control ................................ 52

Table 4. 13: Descriptive Statistics for Perceived risk ....................................................... 53

Table 4. 14: Descriptive Statistics for Online shopping behavior..................................... 54

Table 4. 15: Reliability Statistics for Attitude................................................................... 55

Table 4. 16: Reliability Statistics for Price........................................................................ 55

Table 4. 17: Reliability Statistics for Subjective norms.................................................... 56

Table 4. 18: Reliability Statistics for Perceived behavioral control first time .................. 57

Table 4. 19: Reliability Statistics for Perceived behavioral control second time ............. 58

Table 4. 20: Reliability Statistics for Perceived risk ......................................................... 58

Table 4. 21: Reliability Statistics for Online shopping behavior ...................................... 59

Table 4. 22: KMO coefficient and 1st Bartlett's test ......................................................... 60

Table 4. 23: Eigenvalues and % explaining factors first time........................................... 60

Table 4. 24: Convergence coefficient of factors forming first time .................................. 61

Table 4. 25: Discriminant value between observed variables first time ........................... 62

Table 4. 26: KMO coefficient and 2nd Bartlett's test ......................................................... 63

Table 4. 27: Eigenvalues and % explaining factors second time ...................................... 63