• Journal of Wellbeing Management and Applied Psychology
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• v.7 no.1
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• pp.9-16
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• 2024

Purpose: This study explores the factors affecting purchase intention of smartphones among millennials. The study incorporates factors of brand equity, specifically brand awareness, brand loyalty, perceived quality and their mediation effect in purchase intention. Research design, data, and methodology: This study evaluates the role of brand equity factors in influencing purchase intentions by using structural equation modeling to analyze 197 respondents. Results: The findings indicate that brand loyalty, followed by brand awareness, and perceived quality are significant factors in determining customer purchase intention. Further, brand loyalty mediates the relationship between perceived quality and purchase intention, as well as between brand awareness and purchase intention significantly. Additionally, perceived quality mediates the relationship between brand awareness and purchase intention significantly. Finally, the serial mediation of perceived quality and brand loyalty significantly affects the relationship between brand awareness and purchase intention. Conclusions: This research has provided valuable insights into the relationship between brand equity and purchase intention among millennials supporting the Aaker's Model. Useful theoretical and managerial implications also have been provided.

• The Journal of Economics, Marketing and Management
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• v.11 no.4
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• pp.19-30
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• 2023

Purpose: This study examines the factors that the Millennials and Gen Z prefers to invest in assets. We look at the asset structure they want now and in the future and the idea of designing the future. This can be expected that the center of Korea's asset market will change to the structure they want in the future. Research design, data and methodology: The spatial extent of the study is all over Korea including Seoul, the metropolitan area, and local cities. The survey was conducted for about 16 days from May 7 to May 22, 2023. The survey was conducted by the surveyor visiting the subject in person, distributing the questionnaire, explaining it, and filling it out in person. For the analysis, descriptive statistics and logistic regression analysis were conducted using the SPSS 25.0 statistical package. Results: It was confirmed that the preferred assets of the Millennials and Gen Z were different by period. There was also a difference in the influencing factors between Millennial Generation and Generation Z in asset preference. Conclusions: The Millennials and Gen Z's preferred assets were different by period. The reason is interpreted as the current process of collecting assets during the asset formation period. In the future, they intend to purchase real estate assets by using financial assets as a lump sum of money. We learned the characteristics of the entire Millennials and Gen Z, in addition, the difference between income and assets is believed to have affected the difference in preference factors of Millennial Generation and Generation Z, respectively.

• The Journal of Industrial Distribution & Business
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• v.15 no.2
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• pp.1-10
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• 2024

Purpose: The aim of this study is to examine the factors influencing prospects toward for the metaverse in both the public and private sectors, focusing on the perspectives of millennials and generation Z that were rarely examined in previous studies. Research design, data and methodology: This study employed an online survey as its research methodology utilizing factor analysis, ANOVA, and regression analysis to test the formulated hypotheses. Results: The findings of this study reveal that factors such as citizen/customer relationship management, the application of metaverse in both in the public and private sectors. Moreover, the effect size of applying the metaverse to cities on prospects toward the Metaverse was notably higher in the public sector. The effect size of metaverse management for customer relationship management showed a greater impact in the private sector. Conclusions: The results carry significant managerial and policy implications. They shed light on how millennials and generation Z perceive the applications of the metaverse in relation to cities, products, and brands. Notably, the results suggest that application of the metaverse for cities and management of customer relationships for products and brands emerge as key factors influencing the prospect of the metaverse in the public and private sectors.

• The Journal of the Korea Contents Association
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• v.22 no.4
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• pp.172-181
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• 2022

This study aims to find out the design needs of millennials for flower services amid changes in the environment in which flowers are purchased online. To this end, first, the consumption tendency of millennials and online flower purchase trends were examined. In addition, focusing on flower bouquet products, the market status of flower delivery shopping malls, which are online flower product services, and regular flower subscription services, a new trend in the flower market, were investigated. Based on this, a survey was conducted to improve online flower services. As a result of the survey, it was found that millennials trusted branded products, preferred eco-friendly products, and tended to have strong design openness in improving online flower service design. In addition, millennials prefer natural bouquet designs mixed with large and small flowers to large and colorful roses, which are currently mainly sold at flower delivery shopping malls. Therefore, we hope that this study will improve the design of online flower services that meet the needs of millennial consumers, revitalizing flower purchases, and expanding to new online flower service design research.

• Korean Journal of Community Nutrition
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• v.27 no.5
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• pp.373-386
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• 2022

Objectives: This study examined the perception of the vegan trend of millennials and their future needs. Methods: This study was conducted online from June 21, 2021, to July 15, 2021, targeting 425 adult men and women born between 1980 and 2000. The contents of the survey were divided into four categories: general information, awareness of vegetables, awareness of vegan trends, and future needs for vegan trends. Results: Most respondents recognized the importance of eating vegetables and perceived vegetarianism and veganism as a lifestyle. Regarding the perception of the vegan trend, the highest response rate was 'The vegan trend is to be satisfied with my life regardless of other people', while the lowest response rate was 'The vegan trend is only a temporary fad'. The reasons for purchasing vegan products with high response rates were 'interest in the earth and environment', 'protection of animal rights', and 'thinking about health'. The type of vegan product wanted in the future was delicious food, and convenience level was in the order of 'completely cooked', 'half-cooked', and 'pre-processed'. Among the sustainable vegetarian types that millennials responded, 'semi-vegetarian', which can consume most animal products excluding red meat, showed the highest response rate. Conclusions: The positive perceptions about vegetables are expected to increase. Efforts should be made to develop convenient meals using vegetables and provide reasonable prices to expand vegetable intake.

• Human Ecology Research
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• v.60 no.3
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• pp.443-458
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• 2022

Generation MZ, a generic term for millennials and members of Generation Z, is an innovation-leading consumer group in the current market. This study aimed to examine the impact of the ethical consumption tendencies of millennials and Generation Z on the purchase intention of social enterprise fashion products. Data were collected from Generation MZ (15-40 years old) by quota sampling based on the demographic variables of gender, age, and region, respectively. Eight hundred responses were analyzed by descriptive statistics, factor analysis, t-test, and regressions using SPSS software. Three value factors (egoistic, altruistic, and biospheric) and three ethical consumption tendency factors (resource saving tendency, eco-friendly tendency, and consciousness of corporate responsibility) were determined by factor analyses. The results confirmed that women, who showed a higher ethical consumption tendency in all three factors, were more altruistic and biospheric than men. Furthermore, women portrayed a more favorable attitude and purchase intention towards fashion products of social enterprises. The results demonstrated that members of Generation Z were more altruistic and biospheric than millennials. Additionally, the attitude, purchase intention, and willingness to pay premium prices were higher in Generation Z members. It was confirmed that higher biospheric values correlated with greater values for the three ethical consumption tendency factors. The altruistic value affected both the resource saving tendency and eco-friendly trend, while the egoistic value had an effect on the resource saving tendency. Both attitude and purchase intention were positively influenced by all three of the ethical consumption tendency factors, and affected the willingness to pay premium prices. This was subsequently influenced by the resource saving tendency and consciousness of corporate responsibility. The results of this study contribute to understanding Generation MZ as a consumer group, and the establishment of marketing strategies for fashion companies.

• Journal of Distribution Science
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• v.17 no.8
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• pp.25-34
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• 2019

Purpose - Investigate the association of internal and external factors of consumers and analysing the role of moderating comparative marketing aspects, especially the part of YouTuber and celebgram in influencing purchase decisions. Apart from that, it provides an overview of the pattern of purchase decision making in forming Millennials and Y generation consumer culture Research design, data, and methodology - This study uses a quantitative research approach with descriptive, predictive, and prospective data analysis on 300 eligible Millennials and Y aged 20-35 years who are bachelor-educated. Data collection using online surveys with final statistical analysis using the Partial Least Square (PLS) approach Results - All hypothesis are declared accepted, indirect testing the dominant internal consumer factors have a positive and significant effect on consumers' purchase decisions. Through testing Moderating, aspect marketing comparative is also authoritative able to moderate internal consumer factors towards purchase decision making. Conclusions - Digital technology is changing the paradigm and perceptions of the millennials and Y generations in terms of behaving as a generation of technology connoisseurs who also influence and shape the culture of that generation and the generations to come in the future.

• Fashion, Industry and Education
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• v.15 no.1
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• pp.44-58
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• 2017

The purpose of this research is to explore how Millennials mitigate perceived risks that occur during online apparel purchasing decisions through social interactions based on social learning theory. Also, this research investigates concerns generated from interactions with others when consuming apparel online. An exploratory investigation was undertaken with 78 undergraduate students using an online survey that included open and closed questions. Qualitative data revealed positive relationships between consumers' social interactions and purchases of apparel products online. Specifically, information searches through social interactions with trusted individuals utilizing online channels were found to validate purchasing decisions and alleviate perceived risks with purchasing apparel products online. However, consumers were also concerned with certain interactions due to the lack of credibility regarding reviewers, channels, and conflicting information. These findings provide an insight into millennial consumers' learning processes through consumer-to-consumer interactions in social media environments for apparel purchases. As online and mobile shopping along with consumers' social media usage for interacting continue to increase, these research findings guide retailers how to turn their attention to investing and utilizing these channels to enhance millennial consumers' positive purchasing experiences online.

• Journal of the Korean Society of Clothing and Textiles
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• v.46 no.4
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• pp.638-656
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• 2022

This study aimed to identify characteristics of Generation MZ's consumer purchase decision journey to develop the new fashion CDJ model. The initial stage was affected by habit, online community, social media, aesthetics, circumstantial need, and proxy. In the search and consideration stage, mobile channels were used actively. In the active search and evaluation stage, online media, experiential data, and personal information were employed. In the purchase stage, zoomers took plenty of time in search and evaluation before spending, contrary to millennials who made their purchases more quickly. In the post-purchase experience stage, zoomers actively displayed follow-up behaviors depending on their satisfaction, such as retaining or deleting the app. While, millennials did not turn away from the store or brand, but followed up on their purchases even when they had an unsatisfactory experience. Based on the characteristics of CDJ, iterative cycle CDJ models were developed. Zoomers CDJ model was presented as a search loop that consists of the search and evaluation process, in which information accumulates, and a purchase loop in which the actual purchase occurs. The iterative cycle CDJ model was presented connected to the loyalty loop as the main section, which is accelerated in millennials' CDJ model.

• Journal of Wellbeing Management and Applied Psychology
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• v.7 no.1
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• pp.17-25
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• 2024

Purpose: This study aims to explore the citizens' perceptions of living labs in the context of enhancing the living environment. Specifically, it employs quantitative research to investigate the perspectives of Millennials and Generation Z. This study proposed research questions to examine how the impacts of citizen-driven management, social factors, locally-driven management, open innovation operation, economic value, and environmental value influence the overall attitude toward living labs. Additionally, this study investigated the effects of overall attitudes on intention to participate in living labs and expected satisfaction towards living labs. Research design, data and methodology: This study employed an online survey conducted by a well-known research organization. Factor and regression analysis were utilized for data analysis. Results: The results revealed significant effects of citizen-driven management, social factors, economic value, and environmental value on overall attitude, with social factors exhibiting the highest effect size on overall attitude. Additionally, significant effects of overall attitude on intention and expected satisfaction were observed. Conclusions: The findings suggest which aspects of living labs should be fostered for the development of residents, the local economy, and citizens' quality of life, particularly with consideration of the perspectives of Millennials and Generation Z, who play a crucial role in utilizing a diverse array of ICT tools.