एकेडमी ऑफ मार्केटिंग स्टडीज जर्नल

1528-2678

अमूर्त

Studying Influence of Social Background on Mobile Wallet Adoption and Consumer Decision Making Through Structural Equational Modelling

Ritu and Preeti Chawla

Background: Mobile wallets have become a ubiquitous feature of contemporary financial transactions. Understanding the factors that influence their adoption and their impact on consumer behavior is crucial in today's digital economy. Social background, encompassing income, education, and occupation, plays a pivotal role in shaping individuals' financial choices and consumption patterns. Objective: The major goal of this study is to analyse the complex connections between demographics, mobile wallet use, and customer preferences. Byemploying Structural Equation Modeling (SEM), we aim to shed light on how a person's social background influences their propensity to adopt mobile wallets and consumer behavior. Methodology: This quantitative analysis uses survey data from a varied sample of mobile wallet users. A SEM model with variables for social background, mobile wallet usage, and consumer behavior is created. Income, education, employment, mobile wallet usage, number of applications installed, time spent using mobile wallets, purchase frequency, quantity, brand loyalty, and customer happiness are observed factors. Findings: We found solid evidence that social background affects mobile wallet uptake and customer behavior. Income increases mobile wallet use, education increases app installs, and employment influences use. Mobile wallet use increases purchase frequency, quantity, brand loyalty, and customer pleasure. Importantly, social context indirectly impacts customer behavior via mobile wallet uptake. Conclusion: This research shows that social context strongly influences mobile wallet uptake and customer behavior. It stresses that enterprises and regulators must address socio-demographic characteristics that affect digital financial instrument use.

: