Analysis of Online Shopping Behavior of Millennials in the Indian Market Context

Abstract

The study explores the complex world of Indian millennial's online shopping habits, paying particular attention to perceived risk factors and their impact. Given how quickly e-commerce is expanding, it is critical to comprehend the variables influencing consumers' online purchasing decisions. The purpose of the study was to examine how Indian youth's intentions to shop online were influenced by perceived risk dimensions, particularly Financial & Convenience Risk (FCR), Perceived Trust (PT), and Product & Delivery Risk (PDR). The research process entails a thorough examination using a range of statistical methods. Using validated scales and systematic data analysis methods such as multiple regression, confirmatory factor analysis (CFA), correlation analysis, and structural equation modeling (SEM), a sample of 563 respondents was surveyed. The study produced important new information about how young Indian consumers' perceptions of risk and their online purchasing habits relate to one another. The results show that intentions to shop online are highly influenced by perceived trust, which emerges as a dominant predictor. On the other hand, it was found that FCR and PDR were risk factors that had a negative correlation with young people's intent to purchase online. The study demonstrates how these factors are interrelated and how important a role they play in influencing customer behavior in the online market. By illuminating the complex relationships between perceived risk characteristics and online buying behavior unique to the Indian adolescent demographic, this research adds to the body of knowledge already in existence. These findings have ramifications for e-commerce platforms and marketers as well. They provide insightful information for developing tactics that target risk perceptions, build consumer confidence, and customize experiences to cater to India's growing online consumer base.