Influence of Financial Risk Awareness and Price Volatility Sensitivity on Online Buying Intentions: The Mediating Role of Perceived Economic Value and Purchase Anxiety

Abstract

In an era of rising economic uncertainty and market volatility, consumers’ financial behaviors are increasingly shaped by macroeconomic perceptions. This study investigates how financial risk awareness and price volatility sensitivity two critical economic constructs impact online buying intentions, with perceived economic value and purchase anxiety as mediating variables. Drawing on behavioral economics and marketing science, the study adopts a mixed theoretical lens to explore how individuals respond to fluctuating digital pricing environments and financial risk signals. Primary data were collected from 300 online shoppers in Pakistan using structured questionnaires. The data were analyzed using Structural Equation Modeling (SEM) in SmartPLS 4. Results demonstrate that financial risk awareness negatively influences online buying intentions, while price volatility sensitivity shows a mixed effect, dependent on perceived economic value. Perceived economic value positively mediates both relationships, while purchase anxiety acts as a suppressing mediator. The findings provide a unique contribution by linking economic volatility perceptions to micro level consumer behavior. Practical implications include the need for platforms to reduce price uncertainty signals and improve consumer access to real-time financial insights, especially in emerging digital markets.