Intl Conference on Economics, Finance & Business, Prague

PERCEPTION OF RISK IN THE PURCHASING DECISIONS OF CONSUMERS ON THE MARKET OF ORGANIC FOOD PRODUCTS

MARIOLA MICHAŁOWSKA, PIOTR KUŁYK

Abstract:

Risk accompanies man in all aspects of life since the dawn of time, finding application in many areas of scientific fields. The aim of the article is to identify the factors affecting the level of risk related to choices in the organic food market. The empirical study was carried out using the survey method among Polish consumers. The article uses factor analysis to identify risk components affecting consumer decisions. The period covered by the analysis covered the years 2012-2022. Consumers' purchasing decisions are influenced by many factors, including their perception of risk, which may significantly extend their decision-making process, delay the purchase in time, or lead to resignation from the purchase. Among the factors influencing the perception of risk, the type of product as well as the socio-demographic profile of buyers turn out to be crucial. The research shows that the risk determines the purchasing behavior of consumers, which is even greater for them when they are faced with the choice of buying a product that they have not bought before. The perception of risk depends on the level of information about the product that the consumer plans to purchase. The study provided an answer to the question of what the socio-demographic profile of consumers is and how they perceive risk in their purchasing decisions. The research shows that consumers are aware of the possibility of making a wrong decision in their choices, and this is greater the less they know about the product. When they know the product from their own experience or it has been recommended to them, they do not see any risk in buying it. The perception of risk is influenced primarily by age, financial situation, and attitude toward innovation. Consumers wanting to reduce the risk should use their own experience or positive opinions about the product.

Keywords: risk in consumer purchasing decisions, factor analysis, organic food market

PDF: Download