The impact of influencers in fashion industry in hi chi minh, Exercises of Research Methods for Managers

Download The impact of influencers in fashion industry in hi chi minh and more Exercises Research Methods for Managers in PDF only on Docsity! FPT UNIVERSITY GROUP ASSIGNMENT Influencers' effects on Generation Z's purchase intentions in the Ho Chi Minh City fashion sector Group: 5 Student name: Tran Nhat Anh (SS170668) Ta Thi Bich Diem (SS171321) Mai Tran Kha Doanh (SS170690) Vo Quoc Hung (SS170812) Tran Ngoc Phuong Nhi (SS170855) Tran Nguyen Tuyet Nhi (SS171165) Nguyen Phuc Thang (SS171161) Class: IB1709 Course: Business Research Methods (RMB301) Lecturer: Vo Ngoc Hien ABSTRACT This research examines the impact of social media influencers on the purchasing intentions of Generation Z in Ho Chi Minh City's fashion industry. The high social media usage underscores the strategic importance of influencers in marketing as influencer marketing in Vietnam has seen significant growth. This study aims to understand how young people’s opinions and buying intentions are shaped by influencer-endorsed fashion products. Specifically, it explores the attributes of influencers - such as authenticity, relevance, engagement, credibility, and innovativeness—that affect Gen Z’s purchase decisions. The research focuses on Generation Z individuals in Ho Chi Minh City, utilising surveys, focus groups, and interviews with a representative sample of 200 participants. By examining the dynamic interactions between influencers and consumers, this study seeks to provide practical insights for fashion brands to enhance their marketing strategies and better engage with Gen Z. Keywords Influencer Marketing; Generation Z; Purchasing Intention; Fashion Industry INTRODUCTION Vietnam's influencer marketing industry has grown significantly in the last few years; expenditures are expected to reach $87.02 million by 2024 from $64.23 million in 2022. In addition, Vietnam has more than 70 million social media users as of January 2023 (accounting for 71% of the total population), which has made Vietnam an ideal market for influencer marketing strategy (VnEconomy, 2024). Social media platforms like Facebook, Instagram, and YouTube are widely used, approximately fifty percent of businesses use them to advertise their goods. As a result, companies are now treating online media as a tactical marketing tool and understand the significance of influencers who regularly share their brand experiences. These influencers assist brands to reach more devoted and engaged audiences, allowing them to target segments. According to a survey, 88% of consumers indicated that they look for social media reviews before making a purchase, and 94% of marketers think that this strategy works efficiently for their marketing campaigns. The fashion industry is no exception; influencers have considerable power among consumers who look forward to their updates. These influencers often introduce stylish and trendy products, shaping personal style. In simple terms, people assume a product will be perfect for them too if a celebrity supports it (Advertising Vietnam, 2019) The purpose of this study is to comprehend how young people's opinions and buying intentions are influenced by the products that influencers endorse, particularly fashion items. In addition, it helps companies in determining whether influencer marketing effectively increases sales among Gen Z consumers in Ho Chi Minh City. 1 The study will be carried out in 10 weeks. This period will include participant recruitment, data collection (surveys, focus groups, interviews), and analysis of the data collected. Content research scope This study aims to investigate the impact of social media influencers on the purchasing intentions of Generation Z in the fashion industry. It will identify key attributes of influencers such as authenticity, relevance, engagement, trustworthiness, and innovation. The study will also learn more about the fashion preferences and behaviors of Generation Z in Ho Chi Minh City, including their attitudes toward influencers and brand preferences. Furthermore, it will analyze how influencers interact with Generation Z on social media platforms as well as how these interactions impact their purchase intentions. Additionally, the study will evaluate the influence exposure to influencer content has on Generation Z's purchase intentions and determine the relative importance of different influencer attributes for these intentions. 4 REFERENCES [1] Những con số và xu hướng Influencer Marketing mà thương hiệu cần nắm bắt trong năm 2019 | 7SAT. (n.d.). Advertising Vietnam. https://advertisingvietnam.com/nhung-con-so-va- xu-huong-influencer-marketing-ma-thuong-hieu-can-nam-bat-cho-2019 [2] Anh, M. (2024, April 3). Hành vi tiêu dùng của người Việt ngày càng chịu ảnh hưởng bởi các influencer. Nhịp Sống Kinh Tế Việt Nam & Thế Giới. https://vneconomy.vn/hanh-vi- tieu-dung-cua-nguoi-viet-ngay-cang-chiu-anh-huong-boi-cac-influencer.htm [3] Amed, I., Balchandani, A., Beltrami, M., Berg, A., Hedrich, S., & Rölkens, F. (2019, February 12). The influence of ‘woke’ consumers on fashion. McKinsey & Company. https://www.mckinsey.com/industries/retail/our-insights/the-influence-of-woke-consumers- on-fashion [4] Peyton. (2022, September 6). Gen Z Spending in Canada Revealed. Think Gen Z. https://www.thinkgenz.com/post/gen-z-spending-in-canada-revealed [5] Nurfadila, S. (2020). Impact of Influencers in Consumer Decision Process: The Fashion Industry. INTERDISCIPLINARY JOURNAL ON LAW, SOCIAL SCIENCES AND HUMANITIES, 1(2), 1. https://doi.org/10.19184/ijl.v1i1.19146 [6] Gong, X., Ren, J., Zeng, L., & Xing, R. (2022). How KOLs Influence Consumer Purchase Intention in Short Video Platforms: Mediating Effects of Emotional Response and Virtual Touch. International Journal of Information Systems in the Service Sector, 14(1). https://doi.org/10.4018/IJISSS.287576 [7] Nurfadila, S. (2020). Impact of Influencers in Consumer Decision Process: The Fashion Industry. INTERDISCIPLINARY JOURNAL ON LAW, SOCIAL SCIENCES AND HUMANITIES, 1(2), 1. https://doi.org/10.19184/ijl.v1i1.19146 [8] Gong, X., Ren, J., Zeng, L., & Xing, R. (2022). How KOLs Influence Consumer Purchase Intention in Short Video Platforms——Mediating Effects of Emotional Response and Virtual Touch. International Journal of Information Systems in the Service Sector, 14(1). https://doi.org/10.4018/ijisss.287576 [9] Nurfadila, S., & Riyanto, S. (2020). Impact of Influencers in Consumer Decision Process: The Fashion Industry. 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