A study of factors influencing purchase decision in an online jewelry store

Abstract

The objective of this study was to find factors influencing purchase decision in an online jewelry store, in order to help Precium Oy Ltd. to prepare its launch of a web store selling silver jewelry. A quantitative online survey was conducted to Finnish Facebook users, who were connected with the owners of Precium Oy Ltd. Out of 502 questionnaires sent, 206 responses were collected in the time of one week. The findings of the study indicate that reliability is the most important upper-level factor influencing purchase decision in an online jewelry store. More detailed factors which create reliability were found, such as familiar payment methods, appearance of the online store and third party recommendations. From the products and services perspective, the appearance of the jewelry was the most important factor influencing purchase decision, among other important factors such as price and material of the product. The study recommends Precium Oy Ltd. to put effort in creating a web store which has quality looks and pictures presenting the products, and to emphasize in factors influencing reliability in order to create a secure and convenient shopping experience. Some results of the study cannot be generalized to the bigger public but can be seen as trend-setting for the online jewelry business. Further research on factors concerning usability, interactivity, reliability and aesthetics or even marketing mix of the online jewelry store could be conducted in order to get more detailed information about consumers’ needs and interests.