Impulse Buying Trap and Post-purchase Regret in Health Insurance; the Role of Social Media and Online Reviews
Year: 2024
Type: article
Study design: Observational Study
Abstract: Impulse buying has gained significant interest from researchers examining consumer behavior. This phenomenon is intriguing as it is influenced by various internal psychological factors as well as external market-related influences. Therefore, this paper aims to explore the crucial role that impulse buying experiences play in contributing to post-purchase regret, specifically within the realm of health insurance products. A mixed method approach utilizing an explanatory sequential design is employed to enhance the understanding of quantitative findings, particularly focusing on the moderating role of 'Time Pressure'. Quantitative analysis utilizes the PLS-SEM technique with SmartPLS 4.0 software, while qualitative analysis is conducted using NVivo software. The study reveals that consumer traits, consumer motives, online reviews, and social media significantly impact impulse buying behaviors. Furthermore, it demonstrates that impulse buying positively influences post-purchase regret in the context of health insurance products. This research deepens the understanding of consumer behavior in high-stakes markets by establishing a link between impulse buying and post-purchase regret within the health insurance sector. Identifying and mitigating factors leading to regret can enhance consumer well-being and trust in the Health Insurance industry, supporting broader public health objectives and protecting consumers through informed policy-making. Keywords: Impulse Buying, Post-Purchase Regret, Health Insurance, Mixed Methodology.
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7117725950