Comparison of Price Sensitivity based on the Shopping Value, Purpose of Use and Social Situation

Abstract

This research investigates the factors influencing price sensitivity in fashion products. This study incorporates three essential variables, which were likely to influence price sensitivity: the subjective shopping value of consumers, objective purpose of use, and social situation according to the shopping companions of consumers. A sample of young adult consumers (who had purchase experience of fashion products during the last six-months) was surveyed using a self-administered questionnaire. A 3-way ANOVA was used to evaluate the data. The results show that the utilitarian shopping value of consumers was more sensitive in price than the hedonic shopping value and a self-using purchase was more sensitive in price than a gift-giving purchase. In addition, a correlation effect was significant between the purpose of use and social situation. In addition, the correlation effect among all of the three variables was also significant.

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