The purpose of this paper is to test the relationships among perceived risk, consumer satisfaction and repurchase loyalty, and to explore the moderating role of knowledge on the relationship between these constructs.
The results are based on a cross‐section sample of 846 households in Vietnam using self‐administrating questionnaires, with fish as a main research object, and analyzed using structural equation modelling.
The relationship between perceived risk and satisfaction is negative and satisfaction has a significantly positive effect on repurchase loyalty. This study suggests that perceived risk has an indirect effect on repurchase loyalty through satisfaction. Besides direct effects on perceived risk and satisfaction, knowledge proves to moderate negatively both the relationship between perceived risk and satisfaction, and the relationship between satisfaction and repurchase loyalty.
This study mainly focuses on fish as a common food and considers the role of food risk with an emphasis on perceived health risk and subjective knowledge. Thus, future study should include other dimensions of risk, objective knowledge and other products. Other antecedents toward repurchase loyalty (e.g. price/value) or other moderators (e.g. ambivalence, personal characteristics) should be used in future studies.
Management attention should focus on reducing risks with which consumers may be faced through producing fresh or safe fish products, and communicating broadly safe signals of their products. Communication strategy should focus much more on improving knowledge and signing food safety for consumers with lower knowledge than the others.
This is believed to be the first study to empirically examine the combined role of perceived risk and knowledge within a satisfaction‐loyalty framework in the Vietnamese market.
