Factors Impacting Purchase Intention of Indian Consumers Towards Spiritual Products
Roy Salot
Roy Salot, Student, Eklavya School Ahmedabad, Ahmedabad, India.
Manuscript received on 25 December 2023 | Revised Manuscript received on 29 January 2024 | Manuscript Accepted on 15 May 2024 | Manuscript published on 30 May 2024 | PP: 11-19 | Volume-4 Issue-1, May 2024 | Retrieval Number: 100.1/ijef.A256304010524 | DOI: 10.54105/ijef.A2563.04010524
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© The Authors. Published by Lattice Science Publication (LSP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Purpose: The aim of the research is to ascertain the elements that influence the propensity of Indian consumers to buy spiritual merchandise. Design/methodology/approach: A quantitative approach was used. Primary data was collected from 150 Indian consumers through an electronic survey using a structured questionnaire with close-ended questions. Confirmatory factor analysis was performed using Varimax Rotation using SPSS software. Findings: The findings revealed Brand Perception, Religious Belief, Spirituality Factors, Brand Image, Packaging and Service Factors and Variety Factors as the determinants of purchase intention towards spiritual products for Indian consumers. Practical implications: This study offers valuable insights for marketers, manufacturers, and retailers of spiritual products in India. Businesses can adjust their marketing plans, product designs, and service offerings to meet the needs and preferences of Indian consumers by studying the factors that influence purchase intention. Originality/Value: While there has been considerable research on purchase intentions in various sectors, this study uniquely focuses on spiritual products in the Indian context. Given the cultural and religious significance of spirituality in India, understanding consumer behaviour in this niche segment is critical.
Keywords: Purchase Intention, Spiritual Products, India, Consumer Behaviour.
Scope of the Article: Capital Markets in Emerging Economies