Modelling consumer perceived risk on purchase likelihood

What is it about?

Incorporating marketing and psychometric paradigms, structural equation modelling confirmed the link between perceived risk characteristics and risk perception, and that the latter appears to influence purchase behaviour. Concern about potential consequences, long-term adverse impacts and the involuntariness of exposure were key shapers of risk perception, and risk perception itself was measured by health, money, time, lifestyle and taste losses in this study

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Why is it important?

These findings can help both the food industry and its regulators as they seek to formulate effective risk management and communication strategies. The model developed in this exploratory study can be extended to all commodities, as well as all services industry.