jhsr.200002

Do Muslim generation cohorts differ in purchase intention? – The case of Islamic financial products

jhsr.200002

Kim-Shyan Fam
School of Management, Harbin University of Commerce, Harbin, China
School of Marketing and International Business, Victoria University of Wellington, New Zealand, email: kim.fam@vuw.ac.nz

Revti Raman Sharma
School of Marketing and International Business, Victoria University of Wellington, New Zealand, email: revti.raman@vuw.ac.nz

Farhana Tahmida Newaz
Graduate School of Business, Universiti Tun Abdul Razak, Jalan Tangsi, Kuala Lumpur, Malaysia, 50480, email: farhana@unirazak.edu.my

AFM Jalal Ahamed (Corresponding author)
School of Business, University of Skövde, Högskolevägen 8, SE-541 28 Skövde, Sweden, email: jalal.ahamed@his.se

Hiram Ting Department of Tourism and Commerce, UCSI University, Malaysia,
email: hiramparousia@gmail.com

Abstract

This study aims to examine how and to what extent the purchase intention for various Islamic Financial Products (IFPs) would vary among various generational cohorts depending on their cohort experiences and the nature of different categories of IFPs. The data to examine our hypotheses comes from 954 Muslim consumers from five major metropolitan cities in Bangladesh. We found that significant differences in purchase intention of Islamic deposit and insurance products exist where each succeeding generation has less purchase intention than the previous generation. Considerable evidence exists that Muslims’ religiosity impacts their personal and consumption decisions with the idea that their extent of perceived religiosity influences their behavior. Besides the theoretical contributions, our findings have several implications for the managers.

Keywords: Buying intention, Generation cohort, Islamic deposit products, Insurance products, Credit products, Capital market products.

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