Despite numerous studies, research on ginseng in aspect of an economic and business perspective are insufficient. Recently, research to reveal the economic cause of ginseng products purchase is drawing attention. The purpose of this study is to analyze empirically the factors of ginseng products purchase by international consumers from a microeconomic perspective. Using the survey data, we empirically investigate the determinants of ginseng products purchase by international consumers visiting Korea. We use a multinomial logistic model to find the determinants that influence the purchase of ginseng products.
This study finds the followings. First, the economic factor is an important determinant of ginseng products purchase. The average daily expenditure has a greater impact on ginseng products purchase than household income does. Even though the average daily expenditure is high, they tend to buy less ginseng products when they prefer other products. Second, demographically, gender and age are also important determinants of ginseng products purchase. It has been found that elderly male consumers are more likely to buy ginseng products. Third, international consumers for leisure purposes have a higher probability of buying ginseng products than tourism consumers for other purposes do. Finally, destination attributes such as security (safety), ease of use of mobile/Internet, and ease of finding directions are also important factors affecting ginseng products purchase. In addition, it is found that the convenience of using the mobile/Internet, the ease of finding directions, and the convenience of shopping increase the probability of buying ginseng products by international consumers. This study is meaningful in that it explored the determinants of ginseng products purchase by analyzing individual consumers' ginseng products choices.

Keywords: Ginseng products, International consumers, Ginseng purchase, Determinants, Multinomial logistic model