Analysis of Total Delay in Consumer Decision-Making Process of Buying Expensive Goods: An Empirical Investigation

Abstract

This research is concerned with substantial delay time and delay closure in consumer decision-making when buying expensive goods. It also seeks to find out whether the delay time differs according to the nature of consumer decision-making stages. The results reveal that the majority of Egyptian consumers delay their buying decisions of this type of goods for substantial time, particularly in specific stages of the decision-making process. Among the key reasons for such delay are financial constraints, perceived financial and psychological risks, lack of past experience in purchasing, need for someone else's help and advice, and needs for more information on the competitive brand attributes. Total delay time is more likely to be affected by consumers' demographics, especially family life cycle, income, and age.