A cross‐national investigation of trait antecedents of mobile‐banking adoption

Although there is a near agreement in the literature on the main predictors of consumers' attitudes toward technological innovation, the potential ways through which personal traits and national environmental differences contribute to significant variations in mobile‐banking adoption have received limited attention. Based on insights from innovation adoption and personality research, this study tested a model of mobile‐banking adoption using data from a developed and a developing country. Survey data came from a sample of 1,340 participants from the United Kingdom and Ghana. The results indicate that intrinsic traits are stronger in explaining consumers' attitude toward mobile banking in Ghana than in the United Kingdom. However, no significant variance between the two countries was observed with regard to the mediation effect of consumers' attitude on the intention to use mobile banking. The practical and theoretical implications of this study are discussed.     

Consumer behaviour in the credit card market: a banking case study

This paper analysed the demographic, socio‐economic and banking‐specific determinants that influence the choice of credit cards. A multinomial logit model was run on a recent portfolio of banking customers based in Italy. The model incorporates the type of credit cards as the dependent variable and a set of explanatory variables. The empirical results provided useful insight into the structural characteristics of the card payment system and offered a microeconomics perspective to analyse consumers' behaviour and preferences. Overall, women, older people, residents in the centre of Italy and secondary card owners are more likely to acquire a classic card. Gold cards are preferred by older customers, whereas younger clients have a higher probability to choose a revolving card, which is also preferred by the residents in the North‐east. The analysis on the continuous variables highlighted that Italy can be regarded as a ‘conservative’ market with room for credit card upgrading and expansion into more sophisticated products.     

FinTech and the COVID-19 pandemic: Evidence from electronic payment systems

This paper investigates the effects of the coronavirus disease 2019 (COVID-19) pandemic on financial institutions and on consumers' adoption of Financial Technology (FinTech) for payments. This paper documents the following findings in Kenya. (1) The COVID-19 pandemic accelerated the adoption and increased the payment concentration of FinTech. We document an approximately 54% increase in mobile banking transactions, a 19.56% increase in mobile banking agents, and a 14.56% increase in the number of mobile banking accounts. (2) The use of all types of electronic payment cards declined significantly during the pandemic. (3) The pandemic magnified interbank contagion and liquidity risks and reduced both domestic and international electronic fund transfers via both the Real-Gross Settlement System and the Automated Clearing House. Overall, our results indicate that FinTech not only partially alleviated the negative impact of the COVID-19 pandemic during Q1 of 2021 but also accelerated consumers' adoption of FinTech and digital onboarding, especially in Q3 and Q4 of 2022.     

“Alexa,lock my front door”: An empirical study on factors affecting consumer's satisfaction with VCA-controlled security devices

Voice conversation agents (VCAs) have moved beyond simple tasks such as information gathering. The integration of VCAs in smart technologies for security has grown in the consumer market. This paper investigates consumers' motivation to use smart technologies controlled by voice conversational agents and how that impacts their perceived hedonic and utilitarian value, which eventually leads to their satisfaction with smart technologies usage. Two cross-sectional studies and a netnography were conducted. The findings showed that the variables measuring technology acceptance mediate the relationship between consumers' motivation and the perceived value of the VCA-controlled smart technologies. Study 1 results show that ease of use and usefulness of the VCA-controlled smart technologies have a more substantial mediating effect between motivation and hedonic value than utilitarian value. For study 2, results show that the mediators had a stronger influence on hedonic and utilitarian values for outdoor voice conversational agent-controlled smart technologies than indoor smart technologies. Study 3 showed that smart technologies have both risks and benefits and depend on whether they are being used for themselves or others. The results suggest that marketers need to consider consumer's emphasis on the products' features including its ease of use and usefulness, and strategically complement it with consumers' prevention and promotion focus for each product.     

How does past behaviour stimulate consumers' intentions to repeat unethical behaviour? The roles of perceived risk and ethical beliefs

Repeated unethical behaviour by consumers is a serious challenge for participants in business transactions, including consumers, retailers, and those responsible for market supervision. Due to the inherent risk of such behaviours, we examine perceived risk to uncover the psychological mechanism by which consumers consider past behaviour (PAB) when deciding to repeat unethical behaviour. We divide perceived risk into two categories, material risk (MAR) and nonmaterial risk (NMR), based on two kinds of ethical evaluation and explore their mediating effects in the process through which PAB influences consumers' intentions to repeat unethical behaviour (CIRUB). We check the moderating effect of consumers' ethical beliefs on the relationship between PAB and CIRUB. We use survey data from four typical ethical scenarios to test the proposed structural relationships. Direct positive effects of PAB on consumers' intentions are observed in all four scenarios. NMR has stable, positive mediating effects in all scenarios. MAR is found to have negative mediating effects in two scenarios (switching price tags and using an expired coupon) and a positive effect in one scenario (copying software). However, no effect is observed in the benefiting from a cashier's mistake scenario. Finally, ethical beliefs are proven to positively moderate the relationship between PAB and consumers' intentions in the first two scenarios, but not the last two. This study also discusses the implications of the findings and offers suggestions for future research.     

Modelling the antecedents of consumers' willingness to pay for eco-labelled food products

The purpose of this paper is to model the antecedents of consumers' willingness to pay for eco-labelled food products. This research utilizes the Theory of Planned Behaviour to model the impact of consumers' awareness of eco-labels, environmental concerns, beliefs in the environmental ability of eco-labels, and presence of children on their willingness to pay for eco-labelled food products. This study uses structural equational modelling and PROCESS macros, to test the moderated mediation model on a sample of 333 online responses. Findings suggest the impact of consumers' environmental concerns and eco-label awareness on their willingness to pay for eco-labelled food products is partially mediated by consumers' belief in the environmental ability of these eco-labels. The relationship is further moderated by the presence of children living in the household. This study establishes the value of consumers' beliefs in the environmental ability of eco-labels and implies that communication strategies need to be carefully refined to provide consumers with more information about eco-labels and to emphasize the environmental ability of eco-labels utilized within the food industry as this can have an impact on their willingness to pay for these products, especially for consumers, who have children in the same household.     

Consumer Acceptance of Cosmetically Imperfect Produce

A survey of 229 supermarket shoppers found low initial acceptance of cosmetically scarred oranges. Acceptance rose substantially after information was provided about reduced pesticide use. The findings reveal a substantial market for cosmetically imperfect produce when accompanied by consumer education regardless of the consumers' demographic characteristics.     

Assessing co-creation based competitive advantage through consumers’ need for differentiation

The extant literature analysing the impact of value co-creation on consumers' need for differentiated products is sparse, so the present study examines the role of consumers' need for differentiation in relating value co-creation with consumers' word-of-mouth to foster competitive advantage. Specifically, we investigate the effects of innovation differentiation and market differentiation on micro businesses' abilities to co-create value and generate positive word-of-mouth, which ultimately helps them sustain their revenues. We collect data from a sample of 196 female consumers who participated in the co-creation process used in the micro businesses to design trendy apparel. We use structural equation modelling to test the hypotheses. Having a strong desire for differentiation in their dresses, these consumers invest their resources and capabilities in designing their own apparel. The results show that value co-creation not only leads to consumers’ need for differentiated products (enabling the differentiation strategy), but also results in negative word-of-mouth. More particularly, value co-creation leads to differentiated offerings but consumers desirous of possessing unique products do not spread positive words about the professional designer. As a result, sustaining economic development in emerging economies dominated by micro and small businesses is still a big challenge.     

Market Mavens in Social Media: Examining Young Chinese Consumers' Viral Marketing Attitude,eWOM Motive,and Behavior

A paper survey of 835 Chinese college students was conducted to examine young Chinese consumers' social media use, market mavenism, viral marketing attitude, and product recommendation behavior. Structural model testing results showed that young Chinese consumers' perceived pleasure, affection outcome expectation, and subjective norm of viral marketing affected their market mavenism while their subjective norm and pleasure influenced their viral marketing attitude. More importantly, young Chinese consumers' frequency of product recommendations on social networking websites was determined by their social media use, viral marketing attitude, and electronic word of mouth motive to help the company and market mavenism.     

Consumer financial information processing: An integrated approach to examine individual differences

This study applied an integrated approach to construct a hierarchical framework for consumer financial information processing. Individual differences in customers' psychological, cognitive and motivational characteristics were examined as antecedents. Using data collected from a sample of 613 U.S. adults, this study used the structural equation modeling method to identify significant direct and indirect relationships amongst personality traits, financial self-efficacy, financial information-gathering ability, search motivation, financial information sufficiency and the utilization of heuristics and systematic financial information-processing modes. The results showed that consumers' information sufficiency (+) directly explained the application of the heuristic mode, whereas consumers' information gathering ability (+), motivation to search (+) and information sufficiency (+) directly explained the use of the systematic mode. Financial self-efficacy demonstrated positive indirect associations with both heuristic and systematic modes. The results also revealed that personality traits including agreeableness, emotional stability and extraversion indirectly explained the use of information-processing modes. Agreeableness (−) and emotional stability (+) were indirectly associated with both heuristic and systematic information processing modes, whilst extraversion (+) was only indirectly associated with the heuristic mode. Openness (+) was the only trait that was directly associated with the systematic mode. This study contributes to the literature on consumer financial information processing by connecting individuals' psychological, cognitive and motivational characteristics. The findings of this study provide valuable insights and policy and practical implications within the industry.     

The Effect of Web-Based Information Availability on Consumers' Processing and Attitudes

Most companies use their websites to promote themselves, their products, and their services; these sites provide ever-increasing amounts of information. This paper examines the effects of the amount of information provided on a website on consumers' processing and attitudes. We propose that the amount of information has differential effects on consumers' information processing and attitudes. The influence of need for cognition is also examined. In our study, we create an experimental website with three versions, with each version providing different amounts of information. Results indicate that while information processing diminishes under high levels of information, attitudes remain favorable. In addition, the individual's need for cognition moderates the influence of the amount of information on both consumer information processing and attitudes.     

Internet banking acceptance model: Cross-market examination

This article proposes a revised technology acceptance model to measure consumers' acceptance of Internet banking, the Internet banking acceptance model (IBAM). Data was collected from 618 university students in the United Kingdom and Saudi Arabia. The results suggest the importance of attitude, such that attitude and behavioral intentions emerge as a single factor, denoted as “attitudinal intentions” (AI). Structural equation modeling confirms the fit of the model, in which perceived usefulness and trust fully mediate the impact of subjective norms and perceived manageability on AI. The invariance analysis demonstrates the psychometric equivalence of the IBAM measurements between the two country groups. At the structural level, the influence of trust and system usefulness on AI varies between the two countries, emphasizing the potential role of cultures in IS adoption. The IBAM is robust and parsimonious, explaining over 80% of AI.     

Market Segmentation for Fast-Food Restaurants in an Era of Health Conciousness

Abstract

Recent societal changes toward heightened interest in health and nutrition indicate consumers' health- and nutrition-related attitudes and behaviors may be important for segmenting the market for fast-food restaurants (FFR's). This research conducted a recent survey of 387 consumers to investigate the extent to which these variables, as well as demographics, predict patronage of FFR's. Findings indicate that consumers who do not patronize FFR's have the strongest involvement with health-related issues, while frequent patrons have the weakest involvement. Thus, marketers could use a combination of general health- and nutrition-related attitudes and behaviors to supplement demographic information when plotting their marketing strategy.     

Search for Nutrition Information: A Probit Analysis of the Use of Different Information Sources

Much consumer research on nutrition information-seeking has focused on prepurchase label reading. This study examines the search for nutrition information from a broader group of sources, because prepurchase label reading appears to be only a small part of consumers' total search. The use of different information sources was analyzed using 2 cost benefit model for search. Benefits are related to the importance of nutrition to the consumer, and to obtaining better food value. Although the model fits better for some sources than for others, support was obtained for the model. The results suggest the usefulness of a cost-benefit approach in understanding consumer information-seeking for nutrition; they emphasize the importance of examining consumers' use of a variety of information sources and support recent suggestions for segmentation of the audience for nutrition information. Policy makers may be able to encourage search for nutrition information by emphasizing the enduring importance of nutrition to consumers.     

Employing a Dichotomous Choice Model to Assess Willingness to Pay (WTP) for Organically Produced Products

Abstract

This study employs a dichotomous choice model to identify the socio-economic characteristics and attitudes that influence consumers' willingness to pay (WTP) a premium for organically produced products (OPP). Considering consumers' growing interest in quality and safety of food, the study attempts to identify consumers level of awareness on OPP, the intention to buy OPP and the WTP a higher price for OPP. Results highlight consumers awareness and intention, revealing useful information for the development of OPP market. The estimated maximum WTP indicates that consumers are willing to pay a substantial extra price to purchase OPP. Finally, WTP seems to be affected by certain consumer attitudes and socio-economic factors.     

Augmented reality shopping application usage: The influence of attitude,value, and characteristics of innovation

Consumers' intentions are crucial to the wide usage of augmented reality shopping applications (ARSAs). Combining innovation diffusion, perceived value, and attitude theories, this study proposes a theoretical model that identifies the antecedents of consumers' innovation to use ARSAs and specifies their interrelationships. A total of 379 consumers were surveyed using questionnaires, and the data were analyzed through confirmatory factor analysis and structural equation modeling. Results show that the effects of the perceived relative advantage, perceived compatibility, and perceived observability on consumers' intentions to use ARSAs are mediated by consumers' attitudes toward ARSAs. In addition, attitudes have an indirect impact on consumers' intentions to use ARSAs through perceived value. Theoretically, this study synthesizes behavioral theories anchored on innovation and marketing to explain consumer's use intention. Managerially, this study provides strategic recommendations for technology companies developing ARSAs and retailers wishing to adopt ARSAs.     

Understanding the Formation of Consumers' Stock Market Expectations

To understand consumers' investment decisions, national surveys such as the Health and Retirement Study elicit consumers' expectations about stock market movements. Analyses of stock market expectations show substantial heterogeneity between consumers. It is commonly speculated that this heterogeneity reflects variations in the beliefs underlying consumers' stock market expectations, that is, their “mental models.” In an online survey of American adults, we find that consumers think about different economic and political issues when generating stock market expectations for the next year. Regardless of the specific issues on which consumers focused, however, their assessments of the issues seemed to reflect a single underlying perception of changes in economic conditions. Regression analyses show that variation in stock market expectations is related to consumers' overall assessments of economic developments. We discuss the implications of these results for economic surveys and investment communications.     

The Impact of Item Price Removal in Scanner Supermarkets: A Survey Study of Los Angeles Shoppers

The practice of removing item prices in scanner-equipped grocery stores has raised an important public policy issue relating to the ability of individual consumers to engage in effective shopping with less available price information at the point of purchase. This study investigated the likely impact of item price removal in scanner-equipped grocery stores as a function of consumers' use of price information, general consumer predispositions, and consumers' experience with scanner technology. Particular emphasis was placed on the likely effects of item price removal on disadvantaged consumers. The implications of the study for public policy are discussed.     

To use or not use: Understanding Chinese consumers' intention toward “serving chopsticks”

Serving chopsticks (or “community-use chopsticks”) refers to chopsticks that are used to serve food from a shared dish to an individual's plate, they are used because of concerns about hygiene. This study aims to examine consumers' perceived values toward serving chopsticks and provide an insight into the formation of consumers' intentions to use serving chopsticks. A mixed-method approach was utilized to collect data; interviews were conducted with 62 consumers, followed by a web-based survey with 630 consumers. Qualitative analysis and structural equation modeling analysis were used in the data analysis. Qualitative analysis highlighted four dimensions that contribute to consumers' perceived value of serving chopsticks: functional, altruistic, symbolic, and emotional values. Structural equation modeling analysis illustrated that the more positive values consumers endorse toward serving chopsticks, the stronger they believe not using serving chopsticks has negative consequences. Also, the more they feel responsible for problems caused by not using serving chopsticks, the more they feel personally obliged to use serving chopsticks. Moreover, subjective norm was confirmed as having positive impacts upon consumers' intention to use serving chopsticks. This study contributes to the development of the value-belief-norm theory through exploring the dimensions of the value construct. In addition, the results can assist governments and industry in developing more effective strategies that promote the use of serving chopsticks.     

An empirical study on anthropomorphism and engagement with disembodied AIs and consumers' re‐use behavior

The integration of artificial intelligence (AI) into the human race has gradually become a norm. AI entails technology assemblages such as machine learning, natural language processing, and reasoning. The influence of AI systems has intensified in consumers' daily lives. Many consumers have interacted with the notions of AI through advertisements or having personal experiences. Many consumers are curious about the use of AI. This paper reports three studies conducted to determine whether anthropomorphism (ANTH) and engagement play a role in consumers' intention to re‐use a voice assistant (VA; a machine‐learning AI). The second study will determine if ANTH and engagement play a role when consumers are using the VAs for different activities (task completion vs. information gathering). In addition, in Study 2, actual re‐use behavior was also tested in the model, which encouraged a stronger overall model fit. The results show that in general effort expectation (EE) has a strong positive impact on consumers' usage experience of the VA. However, between the two types of activities, EE has a stronger impact on consumers' usage experience for information‐gathering activities, whereas performance expectation has a stronger impact on usage experience when consumers use the VA for task‐completion purposes. The third study used internet usage experience as a moderating variable to determine the boundaries of the mediating effects in the study. The results show that the mediators yield results similar to prior studies.