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Exploring The Drivers of Millennial’s Purchase Intention for Digital Pension Financial Products

In: Proceedings of the 2025 5th International Conference on Informatization Economic Development and Management (IEDM 2025)

Author

Listed:
  • Jing Yu

    (Nanfang College Guangzhou, Business School)

  • Chiou-Fong Wei

    (Fu Jen Catholic University, Business Administration)

  • Xin-Yang Wu

    (Nanfang College Guangzhou, Department of Music)

  • Kai-Ting Wei

    (Fu Jen Catholic University, Department of Textiles and Clothing)

Abstract

The rapid aging of the world’s population is putting enormous pressure on the pension system. China’s approximately 400 million millennials have digital talents and are more receptive to and proficient in Internet technology. Although they are the main force of today’s productivity, they also hope to prepare sufficient pension funds after retirement. Millennials’ purchase intention of digital retirement financial products is an important issue. However, scholars have not yet conducted research on this topic. This paper aims to investigate the drivers of millennials’ purchase intention for digital pension financial products. After collecting 395 valid online questionnaires, this study validated the proposed conceptual model using Partial Least Squares structural equation modelling. The result shows that perceived risk negatively affects perceived behavioral control, perceived value, and perceived trust, which in turn positively affects purchase intention. In addition, this study proposes relevant theoretical implications and practical applications and provides suggestions for future research directions.

Suggested Citation

  • Jing Yu & Chiou-Fong Wei & Xin-Yang Wu & Kai-Ting Wei, 2025. "Exploring The Drivers of Millennial’s Purchase Intention for Digital Pension Financial Products," Advances in Economics, Business and Management Research, in: Meilin Zhang & Au Yong Hui Nee & Khurram Shehzad & Sameer Kumar & Ehsan Javanmardi (ed.), Proceedings of the 2025 5th International Conference on Informatization Economic Development and Management (IEDM 2025), pages 340-347, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-724-3_34
    DOI: 10.2991/978-94-6463-724-3_34
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