Exploring the Influence of Douyin (TikTok) on Users’ Purchase Intentions for Financial Products in China: A Qualitative Study

Abstract

This research aims to explore how Douyin influences users' purchase intentions for financial products through a qualitative view. It addresses a critical intersection of social media engagement, consumer behaviour, and digital financial marketing. In today’s digital landscape, short video platforms like Douyin have transformed consumer engagement and presented more opportunities for marketing financial products. Despite the rapid growth of short video marketing, limited research has focused on its specific impact on the financial sector, highlighting a gap in the literature. The first objective is to identify and analyse the critical elements of short video content that affect Chinese consumers’ perceptions, trust, and purchase intentions for financial products. The second objective is to explore how consumer demographics, including age, income, and financial literacy, interact with and moderate the effects of these content elements on behavioural responses. To address these objectives, a qualitative research approach is adopted. Data is gathered through semi-structured interviews with about 15 active Douyin users. This approach allows for an in-depth exploration of their experiences and interpretations of financial content. Therefore, it can identify and analyse what drives consumer decision-making on Douyin. Thematic analysis will be used to analyse the data. The potential implications of this research are significant for both academic inquiry and practical application. For scholars, the study contributes to the theoretical understanding of digital consumer behaviour and the role of social media in financial marketing. For practitioners, this study offers valuable insights into designing more effective digital marketing strategies that cater to diverse consumer segments.