Consumers’ Post-purchase Regret Determinants in Sri Lankan Shopping Malls

Abstract

Aims: This study aims to find the factors affecting post-purchase regret at shopping malls in Sri Lanka.  Marketing needs better recognition of customer behavior decisions. The importance of this study is to find the gaps in customer expectations and what malls actually deliver. It also aims to identify ways to create the best possible post-purchase customer experience. Study design: Factors considered in this study have framed the number of alternatives forgone, the return process experience at mall shop, the self-esteem, and risk-aversion of the consumer. Place and duration of study: People who have shopped at malls during the year 2020 were chosen via an online survey, and 369 responses were collected concerning the period mentioned above. Methodology: A questionnaire was used to gather data, and its reliability has been tested with Pearson Product-Moment values and reliability measured via a factor analysis using SPSS application. Results: The results indicated that the number of alternatives forgone, return procedure of the mall shop, and the consumers' self-esteem positively associated with post-purchase regret. At the same time, risk-aversion shows a negative relationship with post-purchase regret. Conclusion: The number of alternatives is the most significant factor that relates to post-purchase regret. To lower the regret of alternatives forgone, mall shop managers must look into customer’s preferences. It is better to cluster the loyal and non-loyal customers in a long time. The number of options showcase in the mall must be limited, but with a sense of marketing. To decrease dissatisfaction with the return procedure, one should enhance the services behind the return procedure and provide correct directions. Risk aversion is negatively proportional to post-purchase regret.