The Impact Of Payment Sensitivity On Consumption Decisions

Since the development of 4G communication technology,people are more and more inclined to choose mobile phone payment instead of using traditional cash for purchase in daily life.As one of the reasons that affect people's consumption decision,payment method is a hot topic in the research of consumption psychology.Some scholars have compared two different payment methods of mobile payment and cash payment and found that mobile payment will make consumers have more willingness to consume and spend more money.However,in daily life,although people tend to pay by mobile phone,not all of them spend more,which may be caused by different consumption characteristics of study conducted three empirical studies on the differences in people's consumption decisions under the conditions of mobile phone payment by combining experimental method and questionnaire method:1?In the preliminary experiment,20 college students were first recruited to list the pleasures and experiments they often buy in daily life.Then 73 college students were again recruited to fill in the "commodity attribute evaluation questionnaire",and 21 follow-up experimental materials were selected according to the questionnaire scores.2?Experiment 1 adopted the simulated purchase experiment to study the influence of payment sensitivity on consumption decision and whether double-channel psychological account plays a mediating role.A mixed experiment design of 3(payment sensitivity: low vs medium vs high)×2(commodity type: real goods vs pleasure goods)was adopted.Firstly,the payment sensitivity of the subjects was measured and grouped.Secondly,the subjects were required to conduct a simulated,the subjects reported the changes in the double-channel psychological account during the purchase process.The experimental results show that there are significant differences in individual consumption decisions with different payment sensitivities.Individuals with low payment sensitivities consume more money and enjoy more goods.However,the comparison of consumption of different commodity types showed that individuals with different payment sensitivity showed higher consumption preference for real goods.Moreover,the double-channel psychological account connection utility plays a partial mediating role in the influence of payment sensitivity on consumption decision.3?In experiment 2,the influence of payment sensitivity on consumption decision wasstudied by means of situational.total of 94 effective subjects were recruited for the experiment,using a hybrid design of 3(payment sensitivity: low vs medium vs high)×2(expected regret direction: Anticipated purchase regret vs.Anticipate not buying regret).Firstly,the payment sensitivity of the subjects was measured.Secondly,a simulated situation was created and the subjects were asked to substitute the situation.Finally,based on counterfactual thinking,the subjects were asked to measure the degree of expected regret and purchase.experimental results show that Anticipated purchase regret plays a moderating role in the influence of payment sensitivity on consumption decision,while high expectation as regret weakens consumers' purchase intention and reduces their purchase behavior.The moderating effect of Anticipate not buying regret was not significant.The results show that the payment sensitivity has a significant influence on the consumption decision.Individuals with low payment sensitivity consume more money and have a larger proportion of hedonic goods.Moreover,double-channel psychological account plays a part of mediating role,and expectation plays a regulating role as regret.