US small retail businesses’ perception of competition: Looking through a lens of fear,confidence, or cooperation

The U.S. retail industry has undergone dramatic changes, leading to the closing of brick-and-mortar retail stores on a large scale. Understanding perceived market competition among small retail businesses may help explain why certain businesses survive or fail in the altered retail environment. This study investigates small retail businesses' perceptions of competition within/outside the community, underlying reasons for their perceptions, and variations in perceptions by different business characteristics. Contrary to common expectations, we found that more than half of businesses interviewed were optimistic in the face of competition. Our data reveal two salient underlying reasons for pessimism and five for optimism. These perceptions tended to differ by operational locality (urban clusters vs. urban areas), business revenues, and innovativeness. Based on the findings, we developed propositions and a framework of small businesses' perceived competition and sustainable competitive advantage. We discussed theoretical and practical implications for small retail businesses’ sustainable growth in the challenging retail environment.     

The impact of influencers' multi-SNS use on followers’ behavioral intentions: An integration of cue consistency theory and social identity theory

The considerable marketing potential brought by the rapid growth of social media has been extensively examined in the literature, particularly in terms of the impact of influencers' recommendations on their followers' decisions. However, little attention has been given to how the individual influencers' use of multiple social networking sites affects their followers' behavioral intentions. Hence, this academic gap warrants further exploration. Drawing on cue consistency theory, social identity theory, and stimulus-organism-response framework, this research proposes three research questions and constructs an integrated research model to explore how the influencers' cue consistency affects the social identification of their followers, subsequently influencing their behavioral intentions. A structural equation modeling technique is performed to analyze the data of 510 valid respondents. The findings show that influencers' consistent cues (i.e., information and image consistency) across social media have positive impacts on followers' cognitive and affective identification toward the influencers. Furthermore, the determinants for followers' purchase intention and electronic word-of-mouth intention are affirmed to serve as both cognitive and affective identification. Especially, the results indicate that the relationships between followers’ social identifications and behavioral intentions are moderated by the type of influencer (i.e., lifestyle vs. review). Accordingly, the results indicate how the use of multiple social networking sites by influencers impacts the behavioral intentions of their followers. The findings offer new insights into influencer marketing and provide important lessons for marketers.     

Going digital? The impact of social media marketing on retail website traffic,orders and sales

Given the rapid proliferation of digital technology, social media has become a key digital marketing strategy to promote business products, with the ultimate aim of maximising profits. Yet, empirical evidence on the impact of social media as a marketing tool remains underexplored. Using unique data over a 12-month period from a major online retailer, this paper examines the impact of daily social media activity on daily business outcomes: website traffic, orders and sales. Key findings reveal that social media leads to increased web traffic, but it does not produce a significant rise in product orders and sale income. Though, larger social media campaigns tend to result in significantly higher number of orders and sale income, and Facebook emerges as the most effective channel. Our results also reveal that the effectiveness of social media marketing varies across products depending on their complexity, cost and brand status. Taken together, these results offer a better understanding of the ways social media marketing impact businesses and provide intelligence on how to allocate resources to develop marketing campaigns.     

How ‘social’ are social media? A cross-cultural comparison of online and offline purchase decision influences

Traditional word of mouth (WOM) involves personal communications among family, friends, and others. Today, social media sites like Facebook offer the possibility of electronic word of mouth (eWOM), a mediated form of WOM. Little is known about the best way for marketers to use social media. Even less is known about international differences in consumer usage of social media and how eWOM influences consumer decision-making. This study helps address that research gap and uses cultural dimensions to compare the use of social media and other information sources for consumer decision-making across 50 countries. The results indicate that the use of information sources that influence online purchase decisions strongly varies by culture. For example, relationship-oriented collectivists rely to a greater extent than individualists on social media, which are an alternative for interpersonal WOM communication. Interestingly culture affects the influence of social media on purchases differently than the influence of traditional WOM through family or friends. Furthermore, there are major differences in online complaint behavior by country, due to cultural variations.     

How do destination social responsibility strategies affect tourists’ intention to visit? An attribution theory perspective

Destination social responsibility (DSR) initiatives have recently received increasing attention as an effective way for destinations to maintain sustainable tourism development and competitive advantages. Through the lens of attribution theory, this study divided DSR strategies into proactive and reactive approaches and explored their influences on tourists' attribution and intention to visit a destination. This study also investigated the moderating role of information sources on the relationship between DSR strategies and tourists' attribution. The results of two experiments indicated that tourists' altruism attribution and visit intention tended to be higher when a destination applied the proactive (vs. reactive) DSR strategy. Tourists who got a reactive DSR message from an internal (vs. external) information source tended to generate stronger visit intention. The findings provide important implications for destinations to adopt appropriate DSR strategies and information channels for inducing tourists’ visit intention.     

Financial return or social responsibility? An investigation into the stakeholder focus of institutional investors

Since the financial crisis, regulators have put emphasis on encouraging institutional investors to take their governance responsibilities more seriously. In the UK, the Stewardship Code was introduced to enhance the engagement of institutional investors with shareholdings in UK listed companies. In the literature, institutional investors have been predominantly conceptualised as owners, although a number of authors have rejected this view, arguing that traders would be more appropriate. The UK Stewardship Code adds a third view: the institutional investor as steward. The literature generally considers the stewardship concept to be the ownership role combined with wider stakeholder responsibilities. By focussing primarily on this new stakeholder element, this study examines empirically the new stewardship concept by undertaking a content analysis of the published Stewardship Statements of 81 asset managers. The results find support for both the ownership and stewardship role but also highlight significant variations in practices that point toward different competitive strategies.     

Social media or shopping websites? The influence of eWOM on consumers’ online purchase intentions

This study empirically tests and compares the influence of friends’ recommendations on social media and anonymous reviews on shopping websites in the context of online purchase intention. For this purpose, we analyse the impacts of these two platforms based on the components of information adoption model (IAM) which are borrowed as information quality, information credibility, information usefulness and information adoption. We conduct a survey and find anonymous reviews as more influential on consumer’ online purchase intentions than friends’ recommendations on social media. However, as this result was contrary to that expected, we conduct another study through in-depth interviews in order to enlighten our results found in the first study. In Study 2, we find the reasons why consumers prefer anonymous reviews rather than friends’ recommendations. Information quantity, information readiness, detailed information and dedicated information are factors which make shopping websites superior than social media in terms of the impact of electronic word of mouth (eWOM). Academic and managerial implications are discussed.     

Like,Comment, or Share? Self-presentation vs. brand relationships as drivers of social media engagement choices

Marketing Letters - To enhance our understanding of consumer engagement with social media brand posts, this research explores the underlying mechanisms driving consumer engagement choices with...     

Hi,May AI help you? An analysis of the barriers impeding the implementation and use of artificial intelligence-enabled virtual assistants in retail

Artificial Intelligence enabled Virtual Assistants (VAs) are evolving rapidly, offering promising opportunities to provide personalized shopping assistance and 24/7 frontline service. They can reduce the workload of human employees while delivering a seamless customer experience. Despite these benefits, the adoption of AI VAs as a retail marketing channel is patchy. The objective of this study is to reveal the multidisciplinary factors impeding the adoption of AI VAs in retail using the Fuzzy AHP method. Seven main barriers and thirty-seven sub-barriers are identified, classified, and ranked. Findings reveal that customer-related barriers are the most significant. These are followed by technical and financial barriers that retailers face in implementing AI chatbots.     

Counterfeiting: Friend or Foe of Luxury Brands? An Examination of Chinese Consumers’ Attitudes Toward Counterfeit Luxury Brands

ABSTRACT

While the Chinese luxury industry is enjoying rapid growth, the market for counterfeit luxury brands is growing equally fast. There are contradictory views regarding the role counterfeit luxury brands play in the marketplace. Luxury brand owners denounce counterfeit luxury products for harming the reputation of luxury brands and reducing their profitability. Others believe that the availability of counterfeit luxury products may help increase the brand awareness of luxury names and thereby make authentic products more sought after. In this study, we examine the impact of counterfeit luxury products from the consumers’ standpoint. Specifically, the authors investigate whether and how Chinese consumers with different luxury consumption experiences view counterfeit luxury products differently. The study contributes to a better understanding of Chinese consumers’ attitudes toward counterfeit luxury products and thus helps marketers and policy makers develop more effective strategies for dealing with the issue.