The Impact of Influencer Marketing on Gen Z’s Intention to Purchase Online Courses in Ho Chi Minh City, Vietnam

This study aims to analyze the mechanism through which influencer characteristics affect Gen Z’s intention to purchase online courses in Ho Chi Minh City. Drawing on the Stimulus–Organism–Response (S-O-R) model and survey data from 275 respondents, the findings reveal that attitude toward influencers fully mediates the relationship between source characteristics—expertise, trustworthiness, and attractiveness—and purchase intention. Among these factors, trustworthiness exerts the strongest influence on the formation of a positive attitude. The study also identifies differences in purchase intention across learners’ income levels. Based on these findings, managerial implications are proposed to optimize influencer marketing strategies for educational institutions.