Effect of Food Consumption Values of Vietnamese Consumers on the Reliability and Purchase Intention of Korean Home Meal Replacements

Abstract

The Vietnamese home meal replacement (HMR) market is expected to face intensified competition due to economic development and urbanization. This study analyzes how the food consumption values of Vietnamese consumers affect the perceived reliability and intention to purchase Korean food in the form of HMRs and provides basic data to establish strategies for Korean HMRs to secure an advantage in an intensely competitive market. A survey was conducted with Vietnamese consumers who had used Korean HMRs before and are constantly using HMRs on a regular basis. To analyze the relationships between food consumption values, the reliability of Korean HMR, and the intention to purchase Korean HMRs, exploratory factor analysis, reliability analysis, confirmatory factor analysis, and covariance structural models were used. Among the factors of food consumption value, health, safety, time saving, and convenience have a positive effect on the reliability of Korean HMRs, while family and cost-effectiveness do not. Moreover, this reliability has a positive effect on the purchase intention of Korean HMRs. This study is significant in that while investigating Korean HMRs, it is pioneering research on Vietnamese consumers regarding HMRs. Therefore, the results of this study can be used to secure the competitiveness of Korean HMRs in the Vietnamese market.