FACULTY OF POLITICAL ECONOMY Œ--- GRADUATION THESIS MAJOR: ECONOMICS commerce platforms in online shopping of UEB students INSTRUCTOR: DR. NGUYEN THUY ANH AUTHOR: NGUYEN TIEN DAT CLASS: QH-2020 KINH TE CLC 3 PROGRAM: HIGH-QUALITY Hanoi, October 2023 FACULTY OF POLITICAL ECONOMY ---k)ƒHœs--- GRADUATION THESIS MAJOR: ECONOMICS commerce platforms in online shopping of UEB students INSTRUCTOR: DR. NGUYEN THUY ANH AUTHOR: NGUYEN TIEN DAT CLASS: QH-2020 KINH TE CLC 3 PROGRAM: HIGH-QUALITY Hanoi, October 2023 DECLARATION OF AUTHORSHIP I hereby declare that this thesis was carried out by myself under the guidance and supervision of Dr. Nguyen Thuy Anh; and that the work contained and the results in it are true by the author and have not violated research ethics.
The data and figures presented in this thesis are for analysis, comments, and evaluations from various resources by my own work and have been duly acknowledged in the reference part. In addition, other comments, reviews, and data used by other authors, and organizations have been acknowledged, and explicitly cited. I will take full responsibility for any fraud detected in my thesis. The University of Economics and Business is unrelated to any copyright infringement caused by my work (if any).
Ha Noi City, 6th October 2023 Author Dat Nguyễn Tiến Dat ACKNOWLEDGMENT To complete this research topic, first and foremost, I would like to express my sincere gratitude to the professors of the Faculty of Political Economy and the entire teaching staff of the University of Economics and Business for always creating conditions to assist me, providing me with extensive knowledge and valuable skills that laid the foundation for my research on this topic. In particular, I would like to extend my deep appreciation to Dr. Nguyen Thuy Anh for her dedicated guidance and support throughout this period. She has imparted invaluable knowledge, guiding and aiding me in orienting and completing this thesis.
I also want to express my gratitude to my family, friends, and seniors who have always been attentive, shared, and enthusiastically supported, creating the best conditions for me to complete this research project. However, due to limitations in time and knowledge, the research paper is not exempt from errors. Therefore, I earnestly hope to receive feedback from the professors so that my thesis can be further improved. TABLE OF CONTENTS DECLARATION OF AUTHORSHIP ACKNOWLEDGMENT TABLE OF CONTENTS LIST OF TABLES.
LIST OF FIGURES. LIST OF ABBREVIATIONS INTRODUCTION 1. Significance of the topic. Structure of the topic.
CHAPTER 1: LITERATURE REVIEW AND - ANALYTICAL FRAMEWORK 1. Consumers decision DFOC€SS. Theoretical model of consumer decision 1. Technology Acceptance Model (TAM) 1.
Unified Theory of Acceptance and Use of Technology (UTAUT) 19 1. Research gaps CHAPTER 2: RESEARCH DESIGN. Research hypotheses and model 2. Proposed research model 2.
Data analysis and processing method. CHAPTER 3: RESEARCH RESULT AND DISCUSSION 3. Exploratory factor analysis (EFA). Factor analysis for independent variables 3.
Factor analysis for the dependent variable 3. Testing models and research hypotheses 3. Discussions CHAPTER 4: CONCLUSION AND RECOMMENDATION. Perceived Ease of Use 4.
Limitations and further researCh.o-<sssssseeesesssssssssseesosoe OB References. APPENDIX Appendix 1: Questionnaire Part 1: General Information Part 2: Main Survey Appendix 2: Bang khảo sát (Tiếng Việt) Phần 1: Thông tin chung. Phần 2: Khảo sát chính LIST OF TABLES Table 3.1: Descriptive statistics of sample Table 3.2: Scale Reliability Test ‹.3: KMO and Bartlett's Test .4: Rotated Component Mattix.5: KMO and Bartlett's Test .cccccsceseeseeseesessestestesteseesessesesnesnsseeneanenee Sl Table 3.6: Component Matrix Table 3.7: Factors extracted and observed variables.ssesccssesessessesseseessesesseeeseseeseesesseetesnesesseensaneeee 53 Table 3:9: Model SuifftimiarY.ssssssssssssssssassssssssssassossasssssasessasssssascasessessasssseasessansossoseos 56 LIST OF FIGURES Figure 1.1: Consumer decision-making process .2: Technology Acceptance Model .3: Unified Theory of Acceptance and Use of Technology Model.1: Proposed research model .1: Regression Standardized Residual.2: P-P plot LIST OF ABBREVIATIONS Abbreviation Meaning ANOVA Analysis of Variance E-commerce Electronic Commerce EFA Exploratory Factor Analysis KMO test Kaiser-Meyer-Olkin test PEU Perceived Ease of Use PR Perceived Risk PU Perceived Usefulness SN Subjective Norm SPSS Statistical Package for the Social Sciences TAM Technology Acceptance Model TR Trust UEB University of Economics and Business UTAUT Unified Theory of Acceptance and Use of Technology VIF Variance Inflation Factor INTRODUCTION 1. Significance of the topic The e-commerce sector in Vietnam has shown remarkable stability and growth recently, even in the face of global economic challenges.
In 2022, the market was valued at approximately $13 billion, representing significant growth compared to previous years, this trend can be attributed to increasing internet penetration, smartphone adoption, and changing consumer behaviors, which have driven e-commerce transactions even during challenging times of Covid (Vietnam Briefing, 2023). According to Vietnam Briefing (2022), 2022, Social commerce has gained prominence in Vietnam, with over 65% of the country's internet users engaged in social commerce activities. The e-commerce industry in Vietnam is expected to continue its upward trajectory. By 2025, the market is projected to exceed $20 billion, driven by increased consumer trust in online shopping, digital payment adoption, and the expansion of e- commerce platforms and logistics services (Boxme Global, 2020).
It can be seen that Vietnam's e-commerce industry is not only experiencing impressive growth but is also at the forefront of global digital commerce trends. However, it also faces several challenges besides the achievement. The rapid growth of e-commerce has strained logistics and transportation systems. Limited infrastructure in certain areas hampers timely and cost-effective delivery, impacting customer satisfaction and operational efficiency (SGGP, 2022).
Moreover, despite progress in digital payments, cash-on-delivery remains popular in Vietnam. This can lead to payment fraud and delayed cash flow for e-commerce businesses. Encouraging secure online payments is an ongoing challenge (Secomm, 2023). The most important is that the e-commerce market in Vietnam is highly competitive.
While this offers consumers choice, it poses challenges for startups and smaller players trying to gain market share. Differentiating themselves and building brand recognition can be difficult (Vietnamnet, 2023). Along 10 with that, concerns about product quality, authenticity, and online scams can also deter potential customers. Based on these challenges, it is crucial to comprehend the factors influencing consumers, particularly university students, as they constitute a pivotal demographic in shaping the e-commerce landscape.
They represent a significant consumer base and are becoming increasingly influential in determining which platforms thrive and which ones falter. University students, and in particular, those at prestigious institutions like the University of Economics and Business (UEB), hold a unique position in this dynamic ecosystem. Their role as trendsetters and early adopters of new technologies is undeniable. They are not only well-versed in the latest digital trends but also actively participate in online commerce.
UEB students, for instance, are known for their tech-savvy nature and their inclination towards online shopping. They utilize a wide range of e-commerce platforms for various needs, from purchasing course materials to everyday consumer goods. Their choices are driven by a myriad of factors, including convenience, pricing, user interface, and the overall shopping experience. Understanding their preferences and decision- making processes is vital for businesses and policymakers alike.
By delving into the factors guiding their platform choices, such a study can provide invaluable guidance for e-commerce businesses to tailor their strategies, enhance customer satisfaction, and navigate the competitive landscape. Furthermore, it can inform policymakers about the evolving needs of consumers and contribute to the development of regulations that promote a secure and efficient e-commerce environment, fostering economic growth and innovation in Vietnam. For the above reasons, the topic “Research on factors affecting the behavior of choosing e-commerce platforms in online shopping of UEB students” is conducted. Research objectives This study will investigate the factors that influence the choice of e-commerce platforms by University of Economics and Business (UEB) students in online shopping.
Based on the findings, the study will provide proper recommendations and implications for the e-commerce platforms in Vietnam to attract more student customers. To do that, the study needs to complete these specific missions: First, identify the factors affecting the behavior of choosing e-commerce platforms in online shopping of UEB students. Second, quantify the magnitude of the impact of these factors on the behavior of choosing e-commerce platforms in online shopping of UEB students. Third, provide proper recommendations and implications for the e-commerce platforms in Vietnam to attract more student customers.
Research questions Corresponding to the proposed research objectives, this topic aims to answer the following questions: First, what are the factors affecting the behavior of choosing e-commerce platforms in online shopping for UEB students? Second, how do these factors impact the behavior of choosing e-commerce platforms in the online shopping of UEB students? Third, what are the recommendations and implications for the e-commerce platforms in Vietnam to attract more student customers? 4. Research scope Spatial scope: e-commerce platforms in Vietnam 12 Time scope: September 2023 to October 2023 Content Scope: studying factors that impact on the behavior of choosing e- commerce platforms in online shopping of UEB students; recommendations and implications for the e-commerce platforms in Vietnam to attract more student customers. Structure of the topic This research employs a quantitative method for the objectives. First, the author will review the literature and develop hypotheses and research models.
Based on the research model, the author will develop a research scale and design a corresponding survey. Research data will be collected through a survey distributed to students at UEB. Research data will be synthesized, encrypted, and analyzed using SPSS software. 13 CHAPTER 1: LITERATURE REVIEW AND ANALYTICAL FRAMEWORK 1.
E-commerce platform Various authors have contributed their definitions and perspectives on e-commerce platforms over the years. According to Turban, et al (2018), e-commerce platforms can be defined as integrated digital frameworks that facilitate online transactions, interactions, and engagements between buyers and sellers within the digital marketplace. These platforms encompass a wide array of applications, software, and digital interfaces that enable users to access product information, make purchases, and engage in transactions securely and efficiently. Expanding on this definition, Laudon and Traver (2020) emphasize that e-commerce platforms are comprehensive online ecosystems that serve as intermediaries, connecting multiple stakeholders in the e-commerce landscape.
These platforms integrate various components, such as online storefronts, payment gateways, user interfaces, and databases, to facilitate the exchange of goods, services, and information in the digital domain. They act as virtual marketplaces where consumers can explore product offerings, compare prices, and make informed decisions while enjoying the convenience of online shopping. Furthermore, Chaffey & and Ellis- Chadwick (2019) underscore the evolutionary nature of e-commerce platforms, highlighting their dynamic and adaptive structures. E-commerce platforms continually evolve to meet the changing needs and preferences of consumers and businesses.
They incorporate advanced technologies, data analytics, and personalized features to enhance user experiences, optimize processes, and foster sustainable growth in the ever-evolving digital landscape. 14 In summary, e-commerce platforms encompass integrated digital frameworks that facilitate online transactions, interactions, and engagements between buyers and sellers. They act as comprehensive online ecosystems, connecting multiple stakeholders and evolving dynamically to meet the changing needs of the digital marketplace. These platforms integrate various components to enable secure and efficient online shopping experiences for consumers.
Online shopping According to Wolfinbarger & Gilly (2003), online shopping, often referred to as electronic retailing or e-tailing, can be defined as the process through which consumers engage in browsing, selecting, and purchasing products or services over the Internet. It involves utilizing electronic devices, such as computers, smartphones, or tablets, to access virtual stores, view product catalogs, compare offerings, and ultimately make purchase decisions. Similarly, Li, et al (1999) emphasize that online shopping is a unique consumer behavior characterized by the use of digital platforms for searching and evaluating products, interacting with sellers, and completing transactions. It encompasses a spectrum of activities, from pre-purchase information gathering to the actual purchase, and may extend to post-purchase evaluations and feedback.
Furthermore, Gefen, et al (2003) underscore the convenience and accessibility aspects of online shopping. They define online shopping as a mode of purchasing where consumers can engage in buying activities anytime and anywhere through internet- enabled devices.