Factors that Influence the decision when buying second-hand products.

Buying and selling of used goods is something that has been done for centuries. Throughout the last 20 years, rapid growth of second-hand products consumption has got the attention of researchers and raised the question why customers buy second-hand products. The growth of the Internet has developed different applications, and this combined with the introduction of new electronic devices, provides users with buying and selling facilities of goods over the Internet and mobile devices. The uses of social networks and smart-phones have also revolutionized the second-hand product market among all economic classes. The consumption of second-hand products is increasing daily. Therefore it is important to pay attention to the factors that affect the purchase of second-hand products since it is not a simple form of mercantilism. It's a lifestyle, a way to acquire goods that we need and get rid of those that we do not see as useful anymore. The purpose of this study is to create new knowledge in the area of second-hand products consumption and customer buying behavior by identifying factors that influence the customer in buying second-hand products. In order to fulfill the research purpose, a quantitative research approach and cross sectional research design were adopted. Questionnaires were designed using Google survey tool and through this method 169 questionnaires were collected from respondents. After which, SPSS was used to perform the required tests of descriptive statistics, reliability analysis, bivariate correlation, single item measurement and multiple regression analysis. It was observed that price was the most important factor influencing customers when purchasing second-hand products; risk is the second most influencing factor and brand is the third and location come last as most influencing factor. The results show that the factors such as brand, price and purchase intention of second-hand products have no association and influence on each other during the purchase decision. In contrast, risk and location factors have a weak association with each other but both factors lack association with brand, price and intention. This study contributes to the existing literature on second-hand products consumption and customer buying behavior as well as touching upon theories of brand, price, risk, and seller location