Investigating the effect of customer-generated content on performance in online platform-based experience goods market |
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| Institution: | 1. Dongguk University Business School, Room L514 in Business School bldg, 30 Pildong-ro, Jung-gu, Seoul, Korea;2. Korea University Business School, Room 517 in Hyundai Motor bldg, 145, Anam-Ro, Seongbuk-Gu, Seoul, 02841, Republic of Korea;1. School of Business Administration, Northeastern University, Shenyang, Liaoning, 110819, China;2. Northeastern University at Qinhuangdao, Qinhuangdao, 066004, China;3. College of Mathematics and Informatics, Fujian Normal University, Fuzhou, Fujian, 350117, China;4. Digital Fujian Internet-of-Things Laboratory of Environmental Monitoring, Fujian Normal University, Fuzhou, Fujian, 350117, China;1. Univ. Grenoble Alpes, Grenoble INP, CERAG, 38000, Grenoble, France;2. Excelia Business School, CERIIM, La Rochelle, France;1. Department of Marketing, Stetson-Hatcher School of Business, Mercer University, Macon, GA, 31207, USA;2. Department of Marketing, Arthur J. Bauernfeind College of Business, Murray State, Murray, KY, 42071, USA;3. Department of Marketing, College of Business, Bryant University, 1150, Douglas Pike, Smithfield, RI, 02917, USA;4. Department of Marketing and Supply Chain Management, Fogelman College of Business and Economics, University of Memphis, 3675 Central Ave, Memphis, TN 38152, USA;1. School of Economics & Management, Southwest Jiaotong University, Chengdu 610031, Sichuan, China;2. Antai College of Economics & Management, Shanghai Jiao Tong University, Shanghai 200052, China;1. School of Management, Guangdong University of Technology, Guangzhou, China;2. Laboratory of Neuromanagement and Decision Neuroscience, Guangdong University of Technology, Guangzhou, China |
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| Abstract: | As COVID-19 persists, a new normal has emerged in our lives and consumption patterns. The rapid rise in demand for online consumption without physical contact is a prime example of this shift. Online platform-based markets have evolved into retail channels, allowing consumers to purchase both search goods and experience goods without contact. The platform provides an environment where customers can encounter a diverse range of customer-generated content (CGC) and gain insights into the purchasing experiences of others. However, despite the growing trading volume and diversification of products traded, relatively few studies exist on purchasing tangible experience goods in the online platform-based market. Therefore, this study investigates the impact of CGC (i.e., content and valence) on the market performance of experience goods, such as sales and sales rank in the platform-based market. We first examine the customer experience-related content in CGC in this market and then investigate the effect of CGC on market performance, such as sales and search ranks. We use crawled data from a platform that sells and rents artwork for empirical analysis. LDA topic modeling findings reveal that CGC has three primary topics (i.e., basic, artist, and style). The regression analysis results show that only style-related content improves performance, whereas basic-related content negatively affects search ranks. The valence of CGC does not significantly impact either performance measure. Additionally, we consider the role of rental services in this market and find that rental volume and search rank have an inverted U-shaped relationship. This study has important implications because it proposes a research framework and empirical model for examining the impact of CGC on performance in the online platform-based market for experience goods. It also has important managerial implications for platforms and sellers looking to enhance their market performance by monitoring CGC. |
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| Keywords: | Customer-generated content Online-platform based market Experience goods Artwork Customer review Topic modeling Sentiment analysis |
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