Exploring the Moderating Role of Openness to Experience in the Relationship between Perceived Risk and Online Purchase Intention

Abstract

Purpose: The purpose of this study is to investigate the impact of 6 perceived risks (product, security, financial, social, time, and psychological risk) on OS intention in the Pakistani market context. Furthermore, this research tends to study the moderating role of openness to experience personality trait in the relationship between Perceived risks and Online purchase intentions. Design/Methodology/Approach: Online survey approach was used to collect the consumers data. This online survey includes the data of 265 participants including students, working men and women in the public and private sectors. Twelve hypotheses were tested on the bases of the constructed model. SPSS 26.0 and Warp PLS 6.0 software were used to test the hypotheses and run different statistical tests. Findings: The findings of this study reveal that perceived risk such as Financial risk, Product risk, Security risk, Time risk, and Social risk has a significant impact on online purchase intention, but the Psychological risk has no impact on online shopping intention. Among these risk Product risks is giving a huge contribution to prevent consumers toward OS. Findings also show that openness to experience does play a moderating role among product, Time, Social, psychological risk, and OS intention, but does not play a moderating role among financial risk, security risk, and OS intention. Implications; This research study is going to facilitate e-commerce industry. Prior studies have shown that E-commerce companies are still facing risks in the world that affect the retailer’s businesses. The findings of this study will hopefully help online retailers to introduce policies to minimize the risk factor, especially for product risk. The findings of openness personality trait could also help to target the customers who are open to experience in Pakistan market