Perceived Value and Affordability: Examining the Interplay in Consumers’ Purchase Intention of IoT Gadgets

In the context of today's rapid technological advancements, the proliferation of Internet of Things (IoT) gadgets has significantly impacted consumer preferences and purchase decisions. This study is dedicated to exploring the intricate interplay between consumers’ intentions to purchase IoT gadgets and the multifaceted factors of perceived value and affordability. With a comprehensive study population of 225 respondents, this research delves into the dynamic relationship between these variables. Perceived value is assessed as a subjective measure of the inherent worth of IoT gadgets, considering their features, utility, and alignment with individual needs. Simultaneously, the concept of affordability encompasses the financial aspect, examining whether the cost of IoT gadgets aligns with consumers’ budget constraints and perceived value. Through rigorous statistical analysis and structural equation modeling, this study unveils the nuanced connections between perceived value, affordability, and the intention to purchase IoT gadgets. The insights gleaned from this research provide valuable contributions to the evolving landscape of consumer behavior in the realm of IoT gadgets, offering implications for manufacturers, marketers, and policymakers striving to address consumers’ ever-changing desires and requirements.