Examining predictive relationships among consumer values: factors influencing behavioural intentions in retail purchase in Ghana
Understanding the predictive relationship among human values and behavioural intentions of retail consumers remains relatively less examined, despite the prevalence of value influence on consumer choices. This study examines, in a retail marketing context, relationship between values, mediated factors and buyer intentions with a focus on the moderating effects of age and gender differentials on values among retail consumers. Using a simple random procedure, 531 retail consumers were selected and questionnaires used to collect data on relationship between values, consumer choices, behavioural intentions and moderating variables of age and gender. While SPSS was employed in the calculation of component analysis and multi- regression and reliability analysis, STATA 12 assisted in the calculation of binary regression, path analysis, and structural equation model to determine relationship among the variables studied. The outcome of analysis indicates that values of stimulation and hedonistic, domain specific, evaluative belief, and restrictive conformity values showed collectively to have positive relationship with retail behavioural intentions. Individually, however, only stimulation and hedonistic values had positive relationship with behavioural intentions. Thus, this phenomenon underscores the importance of physical attractiveness and environmental factors in retail environments that trigger positive customer behaviour. Further, findings of this study revealed indirect and significant positive effect of age, gender and values on behavioural intentions. This indicates that age and gender differentials are moderate between values and customer behaviour. The outcome of this study not only contributes to retail literature and values, but most importantly demonstrates knowledge of moderating and predictive influence of demographic factors of age and gender in predicting consumer behaviour, especially as it pertains to the retail environment in a developing country.
Key words: retail, consumer values, buying intentions, and human values, demographic factors