Booking now or later: Do online peer reviews matter? |
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| Institution: | 1. School of Management, Harbin Institute of Technology, 92 West Dazhi Street, Harbin, 150001, China;2. School of Hotel and Tourism Management, The Hong Kong Polytechnic University, Hong Kong SAR, China;3. College of Tourism and Service Management, Nankai University, 38 Tongyan Road, Tianjin,300350, China;1. School of Accounting, Nanjing Audit University, 86 West Yushan Road, Nanjing, China;2. School of Management, Harbin Institute of Technology, 92 West Dazhi Street, Harbin, China;3. School of Hotel & Tourism Management, The Hong Kong Polytechnic University, 17 Science Museum Road, TST-East, Kowloon, Hong Kong Special Administrative Region;4. Collaborative Innovation Center of Modern Tourism Development, College of Tourism and Service Management, Nankai University, 38 Tongyan Road, Tianjin, China;1. College of Management and Economics, Tianjin University, 92 Weijin Street, Tianjin, China;2. Department of Integrated Resort and Tourism Management, Faculty of Business Administration, University of Macau, Macao, China;3. Asia-Pacific Academy of Economics and Management, Faculty of Business Administration, University of Macau, Macao, China;4. College of Tourism and Service Management, Nankai University, 38 Tongyan Road, Tianjin, China;1. School of Management, Harbin Institute of Technology, 92 West Dazhi Street, Harbin 150001, China;2. School of Tourism and Hospitality Management, Temple University, Philadelphia, PA 19122, USA;1. School of Business, Sichuan University, 29 Wangjiang Road, Chengdu, China;2. School of Management, Harbin Institute of Technology, 92 West Dazhi Street, Harbin, China;3. Howard Feiertag Department of Hospitality and Tourism Management, Pamplin College of Business, Virginia Tech, Blacksburg, VA,24061, USA |
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| Abstract: | Consumers always face a tradeoff between making a purchase decision now and continuing information searching with delayed purchase decision. This study extends extant literature by empirically investigating the effects of online peer reviews on consumers’ timing of booking a restaurant using a merged data set of online peer reviews and consumer reservation records. The results show that the rating valence, rating variation, and review content richness of online peer reviews positively motivate potential consumers to book a restaurant earlier, while the time interval between successive reviews hinders consumers’ booking decision. It is also found that the effects of rating valence on timing of restaurant booking depend on the different levels of rating variation and review content richness. The findings of this study help practitioners better understand consumers’ purchase decision process and improve marketing strategies. |
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| Keywords: | Advance booking Timing Online reviews Restaurants |
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