Last Buy and No Buy Effect on Risk Perception and Reduction

For over 30 years the topic of Perceived Risk has been of interest to consumer behaviour researchers. However, by far the majority of the literature has focused on applications of perceived risk rather than the testing of the concept itself or parameters which affect it. Such a critical generalisation does not discount the fact that there have been some notable contributions to the literature. In order to better understand a construct or phenomenon one must subject it to various tests or stimuli and assess its reaction. By examining perceived risk under various conditions, e.g., how it alters with demographics or purchase type, one can build up an improved understanding of how it operates. This knowledge may eventually lead to a model of the construct which will contain the various risk components, the factors which affect the construct and the degree to which they affect it. It was partly to this end that the present study was undertaken. It examines one facet of consumer behaviour which may affect risk perception and reduction, namely the recency of purchase.