Unraveling gen z’s repurchase intention for trendy beverages: the role of neophilia, perceived price fairness, and customer experience quality

Abstract

The Vietnamese beverage and food industry is being deeply transformed by economic growth, technological advancement, and changing consumer preferences. Chains focused on beverages, such as cafes and milk tea chains, are doing well but struggle to maintain repurchase intentions, particularly from Generation Z, a trend-oriented and digitally native generation. The boom and bust of the popularity of "trendy beverages" reflect how challenging it is to maintain long-term consumer interest. Since keeping customers is cheaper than new customer acquisition, repurchase intention is important to understand. With a constantly evolving market driven by social media and digitalization, companies need to keep innovating to remain in the competition. This study aims to identify and analyze the key factors influencing Gen Z's repurchase intention for trendy beverages in Ho Chi Minh City as well as delving into the influence of these factor on the target audience. This research uses official data, collected from 300 Gen Z participants in Ho Chi Minh City by survey questionnaires. Among the research methods of data analysis are reliability analysis - Cronbach's Alpha and Composite reliability, average extracted variance (AVE), discriminant value - Heterotrait-Monotrait (HTMT) ratio, assess the structural model through the coefficients VIF, R-square, f-square, using regression to test the model and hypothesis. Research proposes and analyzes the impact of 7 factors: (1) Product Quality, (2) Service Quality, (3) Perceived Price Fairness, (4) Neophilia, (5) Customer Satisfaction, (6) Customer Trust, (7) Perceived Value to student's Repurchase Intention for trendy beverages in Ho Chi Minh City based on the SOR framework. Moreover, the research team put forward recommendations to individuals, schools, and organizations. The research concludes with useful practical implications and discusses its limitations and provides future research directions for the trendy beverage industry.