Impact of Price and Shopping Motive on Millennial Consumer Preferences for Offline and Online Store Formats

Abstract

Globalisation has resulted in increased competition among businesses, leading to the development of various business formats and impacting consumer behaviour. The COVID-19 pandemic has further accelerated the shift towards online businesses, prompting the emergence of different online store formats. In light of these changes, a study was conducted to investigate the impact of price and shopping motives on consumer preferences for online store formats versus physical stores. The research methodology involved distributing surveys directly to gather opinions from respondents in Surabaya, with a focus on millennial consumers. From 144 samples of this study, price and shopping motives did not significantly influence millennial consumers' preference for store formats. However, the results of the research indicate a clear preference for online shopping over physical stores among millennial consumers. This study sheds light on consumer preferences in the current market and emphasizes the growing influence of online businesses.