Exploring factors influencing 50-plus generation’s repurchase intention of home meal replacement using elastic net regression and finite mixture modeling
Qi Liu1 · Jungkyu Park2 · Sunho Jung3
13Department of Business Administration, Kyung Hee University
2Department of Psychology, Kyungpook National University
2Department of Psychology, Kyungpook National University
Correspondence to: 1 Doctoral student, Department of Business Administration, Kyung Hee University, Seoul 02447, Korea.
2 Associate professor, Department of Psychology, Kyungpook National University, Daegu 41566, Korea.
3 Professor, Department of Business Administration, Kyung Hee University, Seoul 02447, Korea. E-mail: sunho.jung@khu.ac.kr
2 Associate professor, Department of Psychology, Kyungpook National University, Daegu 41566, Korea.
3 Professor, Department of Business Administration, Kyung Hee University, Seoul 02447, Korea. E-mail: sunho.jung@khu.ac.kr
Received March 30, 2024; Revised May 6, 2024; Accepted May 9, 2024.
This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
- Abstract
- There has been an increasing consumer demand for home meal replacement (HMR) products in South Korea over the last ten years. Consumers over age 50 have recently expressed their strong interest in healthy and high quality convenience foods. The main purpose of this paper is to use elastic net machine learning technique to elucidate the key factors in predicting repurchase intention of HMR products particularly for 50-plus generation. A finite mixture model is also applied to uncover consumer segments based on these major factors. A valid sample of 184 questionnaires was obtained. Our results show that the following factors are statistically significant: three selection attributes (quality, cost effectiveness, sanitation and cleanness), three food-related lifestyles (convenience-orientation, taste-orientation, fashion-orientation), a single psychological factor (trust). These results also reveal four segments of HMR consumers aged over 50. This paper contributes to expanding our understanding of major factors associated with repurchase intention of HMR foods for 50-plus generation.
- Keywords : Elastic net regression, finite mixture modeling, home meal replacement, 50-plus generation
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