Paradigm shifts in digital media, specifically the World Wide Web, directly influence paradigm shifts in brand models and the branding practices attached to them. This paper explains the transformation in brand models that is being driven by the move from Web 2.0 to web3 and the implications of the transition from a participatory Internet to an ownership Internet. The full implications are significant and still evolving, but one of the biggest challenges for brand owners and managers is the continued shift from centrally managed and owned brands to distributed collaboration, contribution and ownership for brands. This paper proposes that this may require moving from conceptualising brands as monolithic entities and instead viewing them as modular collections of attributes and assets that can operate and evolve independently yet are still able to resolve into a unified idea or set of ideas. Looking at emerging ideas in art and creativity, this paper presents a set of potential implications for the future of the brand. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/
Consumer Behavior in Brand Consumption and Identification
This paper studies how luxury brands act in the metaverse. It utilizes a literature review and two semi-structured expert interviews. It details three stages of digital adoption: resistance, selective integration, and Web3 experiments. It explains how NFTs, virtual goods, and token-gated access create technical scarcity and visible status. It shows how young consumers use digital items to build identity and community. It also lists key risks: energy use, data privacy, and brand dilution. The findings outline key digital tools that help maintain core luxury values and point to unanswered questions about long-term brand equity and consumer behavior.
Open access
Consumer Behavior in Brand Consumption and Identification
Marta Massi, Andrea Vocino, Chiara Piancatelli, Paola Cillo · 5 authors
Non-fungible tokens (NFTs) are revolutionizing luxury fashion by offering digital experiences that promise innovation, exclusivity, and sustainability. While luxury brands increasingly experiment with these technologies, little is known about how they influence consumer perceptions of sustainability, brand legitimacy, and purchase likelihood. Drawing on dematerialization theory, institutional and legitimacy theory, and the sufficiency model, this research investigates NFTs’ role in promoting sustainable consumption and brand legitimacy. Building on insights from a preliminary qualitative study, three experiments test how product type (non-NFT, NFT, digital twin) affects purchase likelihood and how perceived product sustainability and brand legitimacy moderate and mediate these effects. Study 1 shows that digital twin products combining physical and NFT components yield the highest likelihood of purchase. Study 2 finds the positive effect of NFTs strengthens when perceived product sustainability is high. Study 3 reveals perceived product sustainability acts as a boundary condition, shaping how product type influences brand legitimacy and purchase likelihood. Findings offer theoretical insights and actionable guidance for managers.
Open access
Consumer Behavior in Brand Consumption and Identification
Majd AbedRabbo, Zeina AlMalak, Fiona Ellis‐Chadwick, Jοãο S. Oliveira
ABSTRACT This paper explores consumers' drivers and motivations behind luxury‐fashion non‐fungible tokens (NFTs) ownership and the implications of the potential ownership of these NFTs on the purchase intentions of physical luxury products of the same brand. Hitherto, little research has been conducted on the consumer's perception of ownership and its effect on physical product purchases. Following the Self Determination Theory (SDT), a two‐step qualitative research approach is implemented due to the lack of empirical research in this area. This study focuses on luxury fashion NFTs and targets millennials and generation Z consumers. A total of 4 focus groups (25 participants) and 6 semi‐structured interviews were conducted to address the objectives of this research. Using thematic analysis, the study identifies 5 key drivers behind NFTs ownership: authenticity, exclusivity, scalability, affordability, and digital literacy. Scalability of luxury fashion NFTs valuation is found to be a critical driver of consumers' ownership intentions. Similarly, digital literacy was identified as a new driver of intentions of ownership of luxury NFTs considering its effect on consumers' social status. Finally, depending on consumers' lifestyle, ownership of luxury fashion NFTs is argued to have a mixed effect on the intentions of ownership of physical luxury products. This research contributes to the development of the understanding of the emerging concept of luxury NFTs and their profound influence on consumers' perceptions of ownership and purchase intentions for physical luxury products.
Open access
Consumer Behavior in Brand Consumption and Identification
Purpose Many tourism organizations are exploring non-fungible tokens (NFTs) for destination branding amid the metaverse and transformative technologies. However, limited literature explores the specific influence mechanisms of NFTs on tourism marketing, particularly about the development of destination brand love from a consumer perspective. Design/methodology/approach This research introduces a conceptual model integrating four gratifications (informativeness, entertainment, interpersonal utility and incentives), attitude towards NFTs, cultural contact, destination image and destination brand love. The model was tested using partial least squares structural equation modelling (PLS-SEM) with data collected from 383 Chinese NFT users, taking Dunhuang, China, as the research context. Findings The study finds that the four gratifications positively influence consumers’ attitude towards NFTs. Moreover, a positive attitude towards NFTs enhances both the destination image and cultural contact, which, in turn, fosters the development of destination brand love. Originality/value This research contributes to the literature on NFT marketing and destination branding by offering empirical evidence of how NFTs can be leveraged to strengthen emotional ties between consumers and destinations. The findings provide practical insights for tourism marketers seeking to use NFTs to build sustainable relationships with tourists.
Diverse Aspects of Tourism Research
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Purpose This study aims to examine both the facilitating and cannibalization effects of non-fungible tokens (NFTs) on physical products. Design/methodology/approach Three experiments are conducted. Study 1 (n = 306) examines the impact of promotion strategy (fixed-price vs. freely distributed) and promotional products (NFTs vs. physical objects) on purchase intention (PI) and brand attitude. Studies 2 (n = 223) and 3 (n = 246) further examine the mediating role of pain of payment and brand ownership. Findings Freely distributed NFTs encourage purchases of physical products (facilitating effect) but barely influence brand attitude. Fixed-price NFTs enhance brand attitudes yet weaken physical product PI (cannibalization effect) (Study 1). Pain of payment and brand ownership mediate these effects, respectively (Study 2 and Study 3). Research limitations/implications Future research could explore how promotion strategies affect other NFT journey touchpoints, incorporating consumer/situational variables (e.g. prior NFT purchase experience, omnichannel behavior, demographics and cultural differences) and additional boundary conditions to refine the theoretical model. Practical implications This research suggests marketers notice both the facilitating and cannibalization effects of NFTs on the physical product promotion. And brands should employ NFTs based on their promotional targets: fixed-price NFTs to enhance brand image and freely distributed to boost physical product sales. Originality/value Previous research diverges on NFTs’ impact on enterprises’ physical operations. This research examines the facilitating effect and cannibalization effect of NFTs on physical products, explains their mechanisms and examines promotional products as a boundary condition.
Consumer Behavior in Brand Consumption and Identification
Web 3.0 환경에서 브랜드 NFT(BNFT)는 블록체인 기반의 고유 속성을 통해 브랜드 가치를 확장하는 전략적 도구로 주목받고 있다. 본 연구는 나이키 BNFT 속성(희소성, 경제적 가치, 고유성, 프레스티지, 독창성, 커뮤니케이션 일관성)이 브랜드 이미지를 매개로 소비자의 구매 의도와 브랜드 충성도에 미치는 영향을 실증적으로 규명하고, NFT 지출 수준과 타 브랜드 BNFT 경험 유무에 따른 집단 차이를 조사하였다. 분석 결과, 여섯 속성 모두 브랜드 이미지를 유의하게 강화했고, 브랜드 이미지, 브랜드 충성도, 구매 의도로 이어지는 이중 매개 경로가 확인되었다. 특히 고지출(≥ 620 USD) 집단에서는 프레스티지의 이미지 형성 효과가, 저지출 집단에서는 희소성의 충성도 촉발 효과가 두드러졌다. BNFT 속성이 브랜드 자산 형성에 기여함을 입증했으며, 프레스티지를 중시하는 경험 보유층과 희소성·고유성을 중시하는 고지출층 맞춤 시장 전략을 제안한다.
Consumer Behavior in Brand Consumption and Identification
ABSTRACT As digital environments continue to expand and blockchain technology advances, luxury brands are increasingly focusing on enhancing brand value and communication with consumers through digital assets within the metaverse. Drawing on value–attitude–behavior (VAB) theory, this study examines how luxury brands are leveraging non‐fungible tokens (NFTs) in the metaverse to influence consumer attitudes and behaviors, particularly resistance to negative information and brand purchase intention. In Study 1, 519 metaverse users were surveyed to empirically test the relationships between NFT attributes, value perceptions, brand attitudes, and consumer behavior. In Study 2, a second survey was conducted with 286 luxury consumers to compare the brand purchasing experience. We find that NFT attributes—namely, authenticity and scarcity—positively impact value perceptions, while hedonic, social, and epistemic value positively affect brand attitude, resistance to negative information, and brand purchase intention in the physical world. Finally, we provide strategic insights for luxury brands seeking to enhance consumer engagement in digital environments.
Open access
2 source records
Consumer Behavior in Brand Consumption and Identification
This paper examines the strategic decisions of fashion brands to develop and sell non-fungible tokens (NFTs) within the metaverse. We construct two operational models based on whether NFTs are adopted: the traditional fashion model without NFT (Scenario T) and the digital fashion model with NFT (Scenario D). By comparing the equilibrium outcomes of fashion brands in Scenarios T and D, we derive valuable insights into the implementation of digital strategies in the fashion industry. Our analysis reveals three key findings. First and foremost, the proportion of fashion customers to conventional customers, as well as the digital value and cost of NFTs, are direct factors influencing the adoption of digital strategies by fashion brands. Secondly, opportunistic pricing by manufacturers is an indirect factor influencing fashion brands’ strategic choices, and a fixed production price contract can effectively avoid this case. Finally, we find that personalized pricing and a free NFT strategy are effective tools to boost fashion brands’ digital revenues.
Open access
Consumer Retail Behavior Studies
Consumer Behavior in Brand Consumption and Identification
Since 2020, the rapid expansion of the non-fungible token (NFT) market has transformed multiple industries, particularly fashion, as luxury brands integrate blockchain-based technologies into digital collectibles. Among the key adopters of fashion NFTs, Chinese male Generation Z consumers exhibit high digital literacy and speculative investment tendencies, making them a critical demographic in shaping NFT consumption trends. However, research on their decision-making processes, motivational drivers, and behavioral patterns remains scarce. This study employs qualitative research methods using grounded theory to explore the underlying mechanisms influencing Gen Z male consumers’ engagement with fashion NFTs. Findings reveal that perception of NFT features—including trend-driven exposure and cultural reliability—directly influences cognitive and emotional responses, particularly regarding financial considerations, risk perception, and gamification incentives. These responses, in turn, shape behavioral intentions and consumption patterns, such as strategic investment behavior and psychological engagement. Additionally, long-term impact and market exit strategies moderate the relationship between consumer perception, emotional responses, and purchasing behavior, influencing whether users sustain engagement or withdraw from the market. This study contributes to NFT consumer behavior research by extending perceived value theory and offering insights into market regulation, brand strategy, and consumer trust in digital assets.
Consumer Perception and Purchasing Behavior
Consumer Behavior in Brand Consumption and Identification
Non-fungible token (NFT) product development is actively taking place in the fashion industry; consumer interest in NFT fashion products is increasing. This study aimed to develop a marketing strategy to enhance NFT fashion products’ artistic value. To this end, we investigated how consumer self-acceptance and self-esteem affect NFT fashion products’ artistic value, how this value affects consumers’ behavioral intentions, and whether entry-barrier factors have a moderating effect. A survey targeting 300 Korean consumers was conducted. A subsequent statistical analysis revealed that relatedness and hedonic motivation had a significant impact on NFT fashion products’ artistic value, while artistic value had a significant impact on consumers’ behavioral intentions. Additionally, uncertainty and costs associated with NFTs moderated the relationship between artistic value and behavioral intention. The consumer-perception factors that affect NFT fashion products’ artistic value and barriers to entry into the NFT market identified in this study can be used as basic data to develop marketing strategies for NFT fashion products.
Consumer Perception and Purchasing Behavior
Consumer Behavior in Brand Consumption and Identification
Luxury fashion brands are among the first movers in metaverse-based non-fungible tokens (NFTs). As luxury fashion brands aim to appeal to younger audiences, NFTs present an enticing marketing approach. Despite the growing interest in NFTs among fashion brands and consumers, no research has examined the core characteristics of NFTs and their impact on advertising outcomes in the luxury context. This research adopts a mixed-methods approach to provide foundational insights on luxury fashion NFTs. Qualitative research (i.e., case study, in-depth interviews) identifies five key NFT characteristics. Quantitative research (a survey of 300 consumers) shows how these characteristics influence brand attitudes and other downstream advertising metrics. This research contributes to advertising scholarship by (a) devising a conceptual framework for NFTs in the luxury fashion context, (b) delineating characteristics most relevant to three different game types, providing advertisers with specific direction, and (c) examining the meanings of authenticity for NFTs in the context.
Consumer Behavior in Brand Consumption and Identification
Purpose This paper investigates to what extent the integration of Non-Fungible Tokens (NFTs) within corporate marketing strategies may foster brand-customer relationship and customer engagement. More specifically, it analyzes such a matter both from the company’s perspective – building NFTs strategies – and from a user perspective – acquiring and holding NFTs. Design/methodology/approach Employing an illustrative multi-case study approach supplemented by netnography of Discord channels, this research addresses two main questions: How do brands embed NFTs within their marketing strategies, and do branded NFTs collections contribute to positive brand-customer interactions and enhance customer engagement? Findings The findings suggest that while NFTs provide brands with tools to create exclusive experiences and offer unique ownership opportunities, customer engagement within NFT communities appears to be largely influenced by financial motivations rather than emotional bonds or brand loyalty. This creates a notable gap between the brands’ intentions to cultivate deeper relationships and the actual dynamics observed within branded NFT-based communities. Originality/value This research enriches both theoretical and practical understanding of the adoption of NFTs by companies and their implications on brand-consumer relationships, representing the first study of its kind to do so through a netnographic analysis of brands’ Discord channels. As official spaces where NFT holders and brand team members interact continuously, these channels offer a novel research setting, enabling deeper and more precise analysis than traditional social media. Additionally, this study challenges key assumptions in relationship marketing theory and provides new insights in customers’ perspective when acquiring and holding a branded NFT.
Customer Service Quality and Loyalty
Consumer Behavior in Brand Consumption and Identification
This conceptual paper contributes to the nascent Web3 marketing stream via offering a novel typology of Non-Fungible Tokens (NFTs) as blockchain-enabled digital offerings. Grounded in a customer-centric approach to marketing strategy, our 2 × 2 typology suggests that NFTs vary in terms of the value on offer (i.e. value-in-use/value-in-exchange) and the strategic focus pursued by firms/creators (i.e. transactional/relational). Four main types of NFTs thus emerge: 1. Validation certificates; 2. Digital replicas; 3. Immersion enablers; and, 4. Digital upgrades. For each NFT type, we discuss their distinctive features, the opportunities they offer and their shortcomings, before detailing their strategic implications. Our typology offers researchers and practitioners who want to engage with the Web3 space a solid grounding for understanding the implications of deploying different types of NFTs from a strategic marketing perspective.
Open access
2 source records
Service and Product Innovation
Blockchain Technology Applications and Security
Consumer Behavior in Brand Consumption and Identification
Abstract The concept of the metaverse, an integrated environment encompassing virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and blockchain technology, is revolutionizing brand-consumer engagement. This academic paper integrates data from quantitative surveys, expert interviews, and real-life brand applications to investigate the transformative impact of immersive and interactive environments on marketing. It examines how these technologies foster emotional engagement, customer loyalty, and digital innovation. Furthermore, the study delves into strategic implementations, including non-fungible tokens (NFTs), virtual brand ambassadors, and AI-driven brand communications, while also addressing the ethical challenges associated with this new digital frontier. The metaverse—a convergence of virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and blockchain—is redefining how brands engage with consumers. This research paper combines insights from quantitative surveys, expert interviews, and real-world brand case studies to explore how immersive, interactive environments are driving emotional resonance, loyalty, and digital innovation. Highlighting strategies involving NFTs, virtual influencers, and AI-powered brand engagement, this paper presents a thorough analysis of opportunities and challenges that define metaverse marketing today.
Open access
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Background In recent years, the rise of “AI+arts” has increased public attention towards emerging digital collectibles and garnered significant interest among young adult collectors globally. However, there has been limited investigation into how emerging media effects may influence consumers’ purchase of digital collectibles from the perspective of relevant theories, particularly in collectivistic cultural contexts. To address this gap, the present study is guided by the extended Theory of Planned Behavior (TPB), integrated with ideal self-congruence, and rigorously examines the effect of exposure to Non-Fungible Token digital art information on the intention to purchase digital collectibles among young Chinese adults (aged 18–34). Methods A total of 259 responses were obtained through an online survey. Statistical analyses, including direct, indirect, and serial mediation, were conducted using SPSS 25.0 and Jamovi 2.6.24. Results The findings indicate that both TPB and ideal self-congruence act as mediators in this relationship. Additionally, a serial mediation process involving ideal self-congruence and attitudes toward intelligence was identified. Conclusion These findings provide valuable insights into the complex factors influencing the purchase intention of digital collectibles among young Chinese adults. Furthermore, the findings offer recommendations for digital collectible platforms and relevant stakeholders.
Open access
Digital Marketing and Social Media
Art History and Market Analysis
Consumer Behavior in Brand Consumption and Identification
Amit Pandey, Aastha Sawhney, Geeti Sharma, Divya Singh
Web3 and the Metaverse are transforming the world of online marketing by providing better support for customers and predictive features. It decentralizes data ownership, giving control back to the users, and provides marketers ok transparency and trust like never before. With immersive, interactive environments, the Metaverse allow brands to engage consumers in real-time, creating emotional bonds and personalized experiences. This data collection of customers and their behavioral patterns results in the advanced behavioral analytics and AI-based predictions of customer trends and buying behavior. Businesses are changing their customer engagement strategies through implementing NFTs, gamification and virtual storefronts, resulting in better brand loyalty and retention. As Web3 and the Metaverse mature, they reshape digital marketing into a much more user-centric, data-resilient and interactive ecosystem, while improving the quality of consumer care and the precision of demand forecasting.
2 source records
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Wenjie Li, Graciela Corral de Zubielqui, Sally Rao Hill
This study explores the evolving intersection of branding and digital assets through the lens of non-fungible tokens (NFTs), focusing on their role in shaping dynamic brand experiences. We propose a typology framework that examines how NFTs contribute to brand experience design and provides their implications for brand-consumer relationships. The research analyses five distinct NFT functions—storytelling media, identity badges, product access pass, change medallion and gamification element—and connects these roles to five types of brand experience design: brand heritage, community, product orientation, collaboration, and gamification. The findings contribute to digital branding literature by advancing the understanding of the function of digital assets within the brand experience design. This study offers a structured understanding of the value of NFTs in digital brand building by providing the roles NFTs play in brand experience. It explores the dynamic potential of brands to integrate NFTs into their strategies in the evolving Web3 environment. Finally, the industry pattern identified in this study provides insights for scholars and practitioners seeking to utilise NFTs effectively.
Open access
Consumer Behavior in Brand Consumption and Identification
‘Can digital self definition help save the planet?’ Belk’s (2013: 492) provocative question argued the need for further research on his concept of dematerialisation, already posing concern over the impact and value of digital goods. Despite existing digitally, with emergent technologies offering digital tools for unbound fashion expression, there is still little research or evidence that fully answers Belk’s question. To date, digital fashion, avatars, and the metaverse have generated significant publicity within the fashion media and are often marketed as tools for innovation and sustainability. The dematerialisation of fashion could offer a new way of dressing with the potential for environmental, psychological, social, and cultural impact. However, despite the rapid arrival of Web3 technologies, there is little understanding of digital fashion as an end product within the current Web 2.0 discourse. A holistic and mediated approach viewed through the lens of sustainable development is required for fashion and technology sectors to responsibly collaborate and innovate while considering the future of digital fashion with a key stakeholder in mind— the user. Adopting the sustainable development goals as a framework for contextualisation, this research includes a critical review of existing literature on digital fashion, identity and sustainability, supplemented by established video game theory, and an account of the author’s own experience of being digitised. It further explores two novel studies focusing on prominent users of DF: fashion models (Study One: Digital Bodies) and fashion consumers (Study Two: Digital Dressing). Within Study Two, participants were required to create and dress their digital selves during observational interviews. While grounded in the present, participants speculate on plausible, near-future scenarios where creating and dressing digital bodies becomes an essential extension of self, bringing both opportunity and risk. Key findings suggest that digital fashion augments rather than replaces physical fashion, serving to foster authentic representation through bolder experimentation or enabling style expression via idealised versions of the ‘default’ self. A digital sustainability paradox is implied, whereby users of DF are torn between feeling inspired and inadequate, with the potential to affect offline consumer behaviours. The creation of digital bodies within the DF journey may make users susceptible to body dissonance, and there is a wider risk to digital well-being, which requires industry responsibility. Additionally, issues surrounding digital ethics and autonomy for future fashion stakeholders are highlighted as societal implications, based on participants’ moralistic views of the digital self. 2 Traversing both online and offline worlds, this research aims to reframe and remediate the relationship between fashion and identity for generations that will never know a world without technology. To stay on the path of sustainable development within a blurred digital/physical fashion landscape, this thesis provides practical tools for the fashion and technology sectors to embed responsible innovation practices, thereby contributing to the emerging field of DF and sustainable development.
Fashion and Cultural Textiles
Sharing Economy and Platforms
Consumer Behavior in Brand Consumption and Identification
Taylor Lundy, Narun Raman, Scott Duke Kominers, Kevin Leyton‐Brown
Conspicuous consumption occurs when a consumer derives value from a good based on its social meaning as a signal of wealth, taste, and/or community affiliation. Common conspicuous goods include designer footwear, country club memberships, and artwork; conspicuous goods also exist in the digital sphere, with non-fungible tokens (NFTs) as a prominent example. The NFT market merits deeper study for two key reasons: first, it is poorly understood relative to its economic scale; and second, it is unusually amenable to analysis because NFT transactions are publicly available on the blockchain, making them useful as a test bed for conspicuous consumption dynamics. This paper introduces a model that incorporates two previously identified elements of conspicuous consumption: the \emph{bandwagon effect} (goods increase in value as they become more popular) and the \emph{snob effect} (goods increase in value as they become rarer). Our model resolves the apparent tension between these two effects, exhibiting net complementarity between others' and one's own conspicuous consumption. We also introduce a novel dataset combining NFT transactions with embeddings of the corresponding NFT images computed using an off-the-shelf vision transformer architecture. We use our dataset to validate the model, showing that the bandwagon effect raises an NFT collection's value as more consumers join, while the snob effect drives consumers to seek rarer NFTs within a given collection.
Open access
2 source records
Consumer Behavior in Brand Consumption and Identification
Abstract This study investigates the digital transformation trends in the Korean fashion industry over the past decade, focusing on business models, processes, services, products, and customers. Using bibliometric and big data analyses, we examined articles from journals listed on the Korea Citation Index (KCI) from 2014 to 2023. It was revealed that the five factors are not independent but are complementary and interconnected. Keyword frequency and network analysis revealed key themes, including the increasing influence of the metaverse on business models and the significance of “recognition” in digital processes for fashion practitioners and designers. “Hanbok,” “Non-Fungible Token,” “Virtual Reality,” and “experience” were notable in services, while “COVID-19” and “3D” emerge as central product discussions. Consumer discussions highlighted “Millennials and generation Z,” “experience,” and “value.” This study provides a comprehensive overview of digital technologies in fashion, offering insights into current trends and future directions. It contributes to the theoretical understanding of digital transformation in fashion and offers practical guidance for industry professionals.
Open access
Consumer Perception and Purchasing Behavior
Consumer Behavior in Brand Consumption and Identification