Impact of the perceived value and perceived risk on consumers’ purchase behavior of suboptimal food

Purpose This study aimed to understand the factors influencing consumers’ purchase behavior of different types of suboptimal food and to provide references for promoting the consumption of suboptimal food and reducing suboptimal food waste in the consumption process. Design/methodology/approach This study analyzed the influence of perceived value and perceived risk on consumers’ purchase behavior for three types of suboptimal food. They include food nearing expiration date, food with defective packaging and food with ugly appearance. Specifically, expenditure saving and food waste reduction of perceived value, health risk, time cost and psychological distress of perceived risk were analyzed using a multivariate probit model. Additionally, the moderating effect of suboptimal food knowledge was tested. Findings Perceived value of saving money and reducing food waste positively influences consumers’ decision to purchase suboptimal food. Perceived risk of psychological distress and health risk negatively affect consumers’ decisions to purchase suboptimal food. Consumers are more sensitive to perceived value than perceived risk when purchasing food with defective packaging. However, perceived risk has a greater impact on the food that is nearing its expiration date. The impact of perceived risk on the purchase of food with an ugly appearance decreases when consumers are familiar with suboptimal food. Originality/value By applying the theory of perceived value and perceived risk from psychology, this study contributes to deepen the understanding of consumers’ motivation to purchase suboptimal food. The results provide recommendations for food sector actors on how to motivate consumers on their way to buy suboptimal food.