Cong Doanh Duong, Thi Van Hoa Tran, Thanh Hieu Nguyen, Thi Viet Nga Ngo · 5 authors
Blockchain technology is increasingly recognized as a transformative tool for enhancing clarity and responsibility in the organic food supply chain , where concerns about product authenticity and safety are paramount. By offering provable and translucent information about the origination , production processes, and administration of organic items, blockchain helps to reduce information asymmetry and builds consumer trust, which is critical for purchase decisions in the organic food market. Drawing on insights from the trust theory and the stimulus-organism-response framework, this study uses a moderated mediation model to explore how technology anxiety negatively moderates the direct and indirect influences of blockchain-based food traceability systems on trust in organic food products and organic food purchase intention. Using a targeted sample of 5326 consumers in Vietnam, the PROCESS macro approach (models 8 and 4) is utilized to examine the formulated hypotheses. The results demonstrate that blockchain-based food traceability systems notably enhance consumer trust in organic food products and their intention to buy these products. Trust in organic food products serves as a mediator in the connection between blockchain-based traceability and purchase intention, while technology anxiety weakens the positive impacts of blockchain technology on trust and purchase intention when anxiety levels are high. This research makes crucial contributions to the literature by offering a mechanism-based explanation of how blockchain technology enhances consumer trust in organic food products and integrates technological anxiety as a moderator, providing a deeper understanding of how technological innovations shape consumer behavior. In light of the findings, several critical recommendations have been proposed for practitioners and policymakers.
Manuel Pedro Rodríguez Bolívar, Fabiana Sepe, Luana Nanu, Fabiana Roberto
Purpose This study aims to investigate the perceptions of service providers in the travel and hospitality industry toward the adoption of blockchain technology (BCT), focusing on its impact on consumer experiences and expectations, especially in terms of trustworthiness and the management of privacy and security concerns. Design/methodology/approach The research used a quantitative methodology, collecting data from 135 industry practitioners across five tourism sectors (lodging, connected industries, entertainment, FandB, transportation) in Europe. This approach aimed to understand the diverse perspectives on the benefits and challenges of implementing BCT in their opera Findings The results indicate mixed perceptions regarding blockchain adoption. While there are positive views on BCT’s potential to enhance customer experience and service quality, there are significant concerns about its impact on trust and security. A consensus exists between customer and provider perspectives on BCT’s trustworthiness, but significant differences were observed in views on privacy and security enhancement. Originality/value This research contributes to the existing literature by providing insights into the service providers’ and customers’ perspectives on BCT within the travel and hospitality industry. It underscores the complexities of adopting new technologies and calls for more in-depth studies to address the identified concerns, thereby offering a novel viewpoint on the adoption of distributed ledger technologies in enhancing customer experience and service delivery.
Jungkeun Kim, Areum Cho, Daniel Chaein Lee, Jooyoung Park · 7 authors
Non-fungible tokens (NFTs) are increasingly used to safeguard luxury products from counterfeits. Despite their increasing adoption, limited research has investigated how brands should communicate the use of NFTs—a novel and complex concept for consumers to comprehend—to maximize their benefits. This research aims to examine this gap by highlighting that the ease of visualization is critical for effective communication. Study 1A demonstrated that consumers prefer a visualized NFT to a non-visualized one for authenticating a luxury product. Study 1B further demonstrated that consumers place greater trust in a visualized NFT and are willing to pay higher prices for luxury products that utilize it. Study 2 demonstrated that consumers have more favorable attitudes toward a luxury product that features an easy-to-visualize NFT than those with a difficult-to-visualize NFT and that perceived authenticity mediates this effect. Finally, Study 3 demonstrated that the positive impacts of easy-to-visualize NFT cues were more significant for luxury than non-luxury products. Subsequently, this study suggests an effective communication strategy for NFT use and provides managerial implications for luxury brands aiming to maximize the benefits of using NFTs.
Open access
Consumer Behavior in Brand Consumption and Identification
This study navigates the intersection of luxury fashion brands and Non-Fungible Tokens (NFTs) in the digital realm. By examining customer segments within the luxury NFT market, this study unfolds insights into changing market trends, consumer behaviors, and brand strategies. Employing data mining approaches, XPath analysis and the k-means clustering algorithm, this study examines user characteristics and behavior on the OpenSea platform, the largest NFT marketplace, with a specific focus on the SUPERGUCCI NFT collection by Gucci. This study identifies three distinct clusters, namely, speculators, casual collectors, and cryptocurrency natives, as well as their characteristics and behavior. The findings illustrate the significant impact of NFTs on customer segmentation and engagement, offering strategic insights for luxury brands navigating technological advancements. As the luxury sector evolves, this study enhances understanding of NFTs' role in consumer engagement and retail strategy within the digital age.
Open access
Consumer Behavior in Brand Consumption and Identification
ABSTRACT Product quality is essential for companies' success because it is integral to meeting customers' expectations. In this context, blockchain technology (BT) offers potential solutions for tracking products' origins and flows, eliminating or reducing fraudulent activities efficiently and effectively. Drawing upon signaling theory, this study investigates how BT's traceability and transparency attributes can enhance consumers' urge to buy impulsively and impulsive buying behavior. The results reveal that transparency positively affects perceived product quality and trust in BT‐enabled e‐commerce platforms. Moreover, traceability positively affects perceived product quality and product affection. The study also identifies that perceived product quality positively affects the urge to buy impulsively and product affection. In addition, product affection and consumers' trust positively affect the urge to buy impulsively and impulsive buying behavior. Furthermore, the urge to buy impulsively positively affects impulsive buying behavior. Finally, consumers' situations moderate the relationship between the urge to buy impulsively and impulsive buying behavior. The findings provide insight for e‐commerce platforms and sellers to refine marketing strategies by providing BT‐related signals.
Purpose This study explores young consumers' motivations for purchasing Virtual Luxury Non-Fungible Token Wearables (VL-NFTs) from luxury brands, which are virtually crafted luxury wearables minted as blockchain-based NFTs. Specifically, it investigates the relationships among consumers' perceived value of VL-NFTs, engagement with NFTs and purchase intention and the mediating effect of consumer engagement with NFTs. Design/methodology/approach Data were collected via an online survey of 504 young US consumers who had previously considered purchasing luxury fashion products and NFTs. Structural equation modelling was adopted for analysis. Findings Perceived economic, functional (uniqueness) and experiential (self-directed pleasure and affiliation) values of VL-NFTs directly influenced consumers' purchase intention. While symbolic value (self-presentation and conspicuousness) did not significantly influence purchase intention, it facilitated consumer engagement with NFTs. Moreover, consumer engagement mediated the relationship between economic and functional values and purchase intention. Research limitations/implications The sample was only comprised of young consumers, limiting the generalizability. Additionally, consumers may perceive VL-NFTs differently because of differences in past experiences and the varying VL-NFT types, necessitating further investigation on consumers' motivations across different types of VL-NFTs. Originality/value This study contributes to the existing literature by examining the importance of multifaceted perceived-value dimensions and engagement with NFTs in consumers' motivation for purchasing VL-NFTs through the lens of the customer value framework.
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Luxury brand managers are paying attention to utilizing non-fungible tokens (NFTs) as promotional tools, yet there has been limited study on the topic. To help address this gap, this study explores the impact of the cognitive and affective aspects of the use of NFTs as promotional devices on consumer behavior. A survey is conducted to explore aspects of NFTs that make them effective in as promotional tools. This study reveals four key attributes associated with NFT promotional efforts, namely, scarcity, authenticity, resaleability, and trendiness. Moreover, drawing on lovemark theory, the study finds a significant effect of NFTs electronic word of mouth generation and brand purchase intention. The empirical findings can aid both academics and practitioners in the management of digital marketing activities via NFTs.
Consumer Behavior in Brand Consumption and Identification
Non Fungible Token (NFT) yang merupakan salah satu aset digital, kini mulai banyak digunakan oleh brand dalam strategi pemasaran mereka untuk lebih dekat dengan konsumen generasi muda. Teknologi baru ini dapat menjembatani antara dunia digital dengan produk fisik dan membentuk komunitas bagi brand. Popularitas dari NFT sendiri meningkat dalam beberapa tahun terakhir karena trend cryptocurrency dan pembelian NFT oleh celebrity. Tujuan dari penelitian ini yaitu untuk menganalisis hubungan customer knowledge dan product uniqueness terhadap purchase intention pada produk fashion NFT. Penelitian ini dilakukan pada 307 responden di Indonesia yang mengetahui mengenai fashion NFT dan brand yang memiliki produk tersebut. Hipotesis penelitian diuji dengan menggunakan metode Structural Equation Modeling (SEM). Hasil penelitian ini menunjukan hubungan positif dan signifikan antara customer knowledge dan product uniqueness dengan purchase intention. Selain itu, product uniqueness ditemukan dapat memediasi hubungan antara customer knowledge dengan purchase intention. Hasil dari penemuan pada penelitian ini memiliki implikasi untuk mengembangkan NFT dan brand lebih efektif, baik secara teori maupun praktik ke depannya.
Open access
Consumer Retail Behavior Studies
Consumer Behavior in Brand Consumption and Identification
Paulo César Galarza-Sánchez, Gerardo Alfredo Solano Gutiérrez
La globalización y la complejidad de las cadenas de suministro han destacado la necesidad de soluciones tecnológicas que mejoren la trazabilidad, transparencia y eficiencia. Este estudio tiene como objetivo comparar las principales plataformas blockchain aplicadas en la gestión de cadenas de suministro, explorando sus características, ventajas, limitaciones y casos de uso. A través de una metodología de análisis bibliográfico, se revisaron fuentes académicas de bases de datos reconocidas, utilizando palabras clave relevantes y criterios estrictos de inclusión y exclusión. Los resultados muestran que plataformas privadas, como Hyperledger Fabric, ofrecen mayor escalabilidad y control de acceso, mientras que plataformas públicas, como Ethereum, priorizan la transparencia, aunque presentan limitaciones en términos de velocidad y costos. Además, la integración de blockchain mejora la trazabilidad y transparencia en las cadenas, permitiendo un seguimiento en tiempo real y fomentando la confianza entre los actores. Sin embargo, factores como la falta de interoperabilidad, los altos costos iniciales y la resistencia al cambio organizacional limitan su adopción. En conclusión, blockchain puede transformar las cadenas de suministro, pero su implementación requiere superar barreras tecnológicas y culturales mediante estrategias colaborativas, estándares comunes y formación.
Ra’ed Masa’deh, Mustafa Musa Jaber, Abdel‐Aziz Ahmad Sharabati, Ahmad Yacoub Nasereddin · 5 authors
The goal of this research is to investigate blockchain technology’s influence on digitizing courier supply chains and advancing Industry 4.0, which leads the digitization revolution by integrating blockchain to digitize processes that would serve the circular economy. It evaluates how blockchain enhances transparency, traceability, and digital processes in logistics, promoting sustainability through waste reduction and improved reuse. The study aims to identify the benefits and challenges of blockchain integration, develop a conceptual framework, and provide actionable insights to improve supply chain management, operational efficiency, and sustainability. This research uses a qualitative research method including a literature review as well as interviews for case studies to explore both the benefits and challenges when applying blockchain technology in courier organizations in Industry 4.0 within the circular economy. The results show that blockchain technology can enhance the security, traceability, and efficiency of courier supply chains, reduce theft, error risk, and fraud, as well as facilitate specific process automation via smart contracts. Blockchain technology can support the digital transformation of logistics organizations and enhance circular economy networks in Industry 4.0 by enabling automation, transparency, traceability, and maintaining responsibility for the environment. This research is an exploration of the effect of blockchain technology on the courier supply chain in the logistics firms in Industry 4.0 within the circular economy and the development of a conceptual framework for usage. In addition, it capitalizes on both coordination and collaboration among players through decentralization to obtain maximum fruitful benefits.
This study examined the role of cryptocurrencies in tourism and their acceptance across EU regions, with particular attention to the digital transformation precipitated by the COVID-19 pandemic. The analysis focuses on the relationship between cryptocurrency acceptance points and the intensity of tourism, highlighting that the acceptance of cryptocurrencies is significantly correlated with tourism services. The literature review highlighted that Web 3.0, especially blockchain technology and decentralized applications, opens new possibilities in tourism, including secure and transparent transactions, and more personalized travel experiences. The research investigated cryptocurrency acceptance points and the intensity of tourism within the EU. The study illuminates that the acceptance of cryptocurrencies significantly correlates with tourism services. The data and methodology demonstrated the analysis methods for examining the relationship between cryptocurrency acceptance points and tourism intensity, including the use of clustering neural networks and Eurostat data utilization. The results showed a positive correlation between the number of cryptocurrency acceptance points and tourism intensity in the EU, affirming the research hypothesis. According to the regression analysis results, each additional cryptocurrency acceptance point is associated with an increase in tourism intensity. The significance of the research lies in highlighting the growing role of digital payment solutions, especially cryptocurrencies, in tourism, and their potential impacts on the EU economy. The analysis supports that the intertwining of tourism and digital financial technologies opens new opportunities in the sector for both providers and tourists.
The adoption of disruptive technologies like blockchain, metaverse, and artificial intelligence (AI) across businesses is a result of the fourth industrial revolution. As a result of this digital transformation, the hospitality sector, and luxury hotels in particular, is leveraging these technologies to improve security, operational effectiveness, and client experiences. The purpose of this suggested chapter is to provide a thorough examination of how these technologies have been adopted and how they have affected the luxury hospitality sector. For the luxury hospitality industry, AI has emerged as a game-changer, converting traditional operations into data-driven procedures. The importance of AI in this sector is based on its capacity to analyse massive volumes of consumer data, enabling a level of personalisation that was previously impossible. In order to receive a more customised experience, 83% of consumers are willing to disclose their data, according to Accenture (2023) , underscoring the significance of AI-driven personalization for raising customer happiness. In addition, AI has the unmatched ability to streamline hotel operations by using machine learning algorithms to improve a variety of processes, including housekeeping scheduling, energy management, and even dynamic pricing tactics. different surveys conducted by consulting firms show that that sales can increase by 10–15% using AI-optimised dynamic pricing. Although it was initially created for bitcoin transactions, blockchain technology has several uses in the hospitality sector. The distributed ledger technology of blockchain, which is its primary value proposition, provides increased security and transparency for hotel transactions. Blockchain technology can dramatically improve loyalty programmes, a key element of client retention in upscale hotels, by lowering fraud and raising transparency. Blockchain technology can cut down on loyalty fraud by up to 95%, claims Deloitte (2023) . Additionally, the irreversible transparency of blockchain technology dramatically enhances supply chain management, lowering the risk of fraud and guaranteeing the validity of goods and services. The concept of customer experience in the luxury hotel sector is set to be redefined by the metaverse in a world that is moving more and more towards digitisation. Through the use of virtual reality (VR) and augmented reality (AR), metaverse can produce immersive experiences that appeal to the market’s increasingly tech-savvy consumers. Before arriving, customers can explore hotel facilities with VR tours, and AR menu displays can improve dining occasions. According to data from PWC (2023) , 78% of consumers believe that AR/VR increases their likelihood of visiting a location, highlighting the potential role of the metaverse in luring and keeping visitors. However, the combination of blockchain, AI, and metaverse has the greatest promise for transformation. Each technology has a significant influence on its own, but when used in concert, they offer much more potential. For instance, combining blockchain’s transparent transaction history with AI’s predictive skills can enable a level of personalisation based on prior behaviour that was previously unthinkable. Similar to how AI and the metaverse work together to create hyper-realistic VR experiences based on specific client preferences, this also increases customer pleasure. After implementing these technology, The Intercontinental Hotel Group (IHG), for instance, claimed a 12% boost in customer satisfaction levels (IHG, 2023a). Despite these developments, possible problems such as worries about data privacy, expensive implementation costs, and the requirement for constant technological innovation should not be disregarded. These problems, along with changes in customer behaviour, will influence the future course of AI, blockchain, and metaverse in the luxury hospitality sector as we head towards a post-pandemic period. This chapter seeks to offer a thorough, empirical investigation of how blockchain, AI, and the metaverse are interacting to reimagine the operations of luxury hotels. This chapter aims to contribute to the continuing discussion on the transformative role of digital technology in the next-generation hospitality business by thorough analysis supported by current data and case studies. It will give academics and industry professionals alike new insights by fusing theory and practice, paving the path for additional study and innovation in this quickly developing subject.
Purpose The development of the next Web 3.0 digital generation will be built on a decentralized society and blockchain technologies such as non-fungible tokens (NFTs) and “soulbound tokens” (SBTs). These technologies will enable a digital proof of personhood that would make it possible for people to differentiate themselves through their unique credentials and reputation. SBTs can include unique information relating to the user’s identity that can enhance consumer’s self-perception, uniqueness and reputation building. The literature remains scant on the underlying consequences of SBTs from a consumer behavior perspective, and consequently the implications for brands given rising egocentric consumer needs which this study addresses. Design/methodology/approach This study adopted an exploratory approach using in-depth interviews with experts to increase our understanding related to SBTs, and their potential impact on consumers’ behaviors and brands’ marketing strategies. Findings The findings unveiled an SBT-led egocentrism cycle comprising the following stages: penetration and proliferation of SBTs, consumers’ need for uniqueness and differentiation, brand’s reputation, brand’s personality matching, brand-based NFTs’ characteristics and shift in the competitive landscape for both consumers and brands. Originality/value This research is among the first to study SBTs and their potential impact in the Web 3.0 environment where digital identities and ownership are decentralized and authentic.
Consumer Behavior in Brand Consumption and Identification
Purpose This study investigates the factors that lead to the adoption of blockchain technology through payment transactions and how this not only affects real estate (RE) and blockchain transparency but also RE performance. Design/methodology/approach Data gathered across RE firms in the United Arab Emirates (UAE) were employed to test the model. The measurement model and structural equation modeling (SEM) were used to test the items and the hypotheses illustrated in the proposed model. Findings Perceived financial benefits, competitive pressure and top manager support were demonstrated to successfully influence blockchain adoption (BA). Despite blockchain’s early stages of development, its impact on RE operations cannot be ignored and should be more objectively examined in order to gain a better understanding of it. UAE blockchain-based companies could be seen as having a competitive advantage that maximizes resource consumption. Originality/value This study introduces the positive influence of blockchain technology on RE payment transactions and may advance information on how blockchain technology has the potential to change the RE sector. The paper finds its significance in exploring how RE payment systems must change to remain competitive in the market amid emerging digitalization trends.
Although there is not yet a consolidated and shared definition of metaverse, this concept has established itself in recent years within the public debate, in particular within specific markets, such as in the case of fashion. We constantly read in specialized and non-specialized magazines, about brands who landed in the metaverse or opened their first store there, or released their first Non Fungible Tokens (NFTs ). However, the apparent concreteness of these statements corresponds to a widespread confusion from the consumers’ side. The aim of this article is to reflect, starting from the results of a qualitative research on international Millennials and Generation Zed consumers, on the meanings associated with the metaverse, on the overlap between it and the concepts of fashion digitalization and digital clothing; finally on the effective media literacy and expectations of who should be the target of these innovations. In particular, the goal is to investigate the well-known relation between fashion and individual self-presentation within the metaverse.
This study examined the effect of NFT (Non-Fungible Token) characteristics on brand attachment within the context of luxury fashion brands in China. Quantitative methodology was employed, involving the distribution of survey questionnaires to luxury fashion consumers aged 21 to 41 in four Tier 1 cities in China. The results indicate that all five NFT characteristics (NFT scarcity, NFT exclusivity, NFT design aesthetics, and NFT novelty) have a positive influence on Chinese consumers’ perceived hedonic value, which in turn, contributes to their emotional attachment with luxury fashion brands. Additionally, perceived NFT-brand fit plays a moderating role in the relationship between consumers’ perceived hedonic value and brand attachment. This study reveals the psychological responses of consumers towards NFTs and their corresponding behavioral reactions to the NFT marketing strategies of luxury fashion brands. The findings introduces a fresh perspective to the literature on NFT marketing and the consumption behaviors of Chinese consumers.
Consumer Behavior in Brand Consumption and Identification
Over the last few years, blockchain technology and Non-Fungible Tokens (NFTs) have gained significant attention among professionals and scholars. NFTs are unique digital assets verified using blockchain technology, representing ownership or proof of authenticity. The fashion industry’s adoption of NFTs marks a significant shift towards digital innovation and consumer engagement. This study explores the impact of NFTs on the fashion industry, focusing on consumer awareness and perceptions of blockchain technology and its applications. An online survey on a convenient sample in Croatia reveals a general awareness of blockchain technology yet a limited understanding of its full implications. While most respondents are familiar with NFTs, their actual engagement, particularly in purchasing fashion NFTs, is minimal, indicating diverse spending tendencies and an emerging adoption trend. The survey results highlight a gap in consumer knowledge and engagement with NFTs in fashion, suggesting a need for additional research efforts in this evolving domain. As NFTs continue to emerge as a novel aspect of fashion, understanding consumer perspectives becomes crucial for brands trying to increase their competitiveness through technological innovation. The study emphasizes the potential of NFTs in reshaping consumer behavior and the fashion industry’s approach to digital assets.
Food products' quality information is advertised on labels but do customers trust them? This study investigates how the consumers' Willingness-To-Pay (WTP) for food products can be increased by deploying managerial effort and advanced technologies, such as the Blockchain Technology (BT). Our model explains how revealing verified information about product quality throughout the supply chain will generate optimal consumers' WTP and maximise profit. At each echelon of a multi-echelon supply chain, a buyer holds a Bayesian belief about the quality of the input to be procured. This belief is shaped by the accuracy and veracity of the information about this quality. Managerial effort is required both to enhance quality as well as ensure full and verified information. We show why this effort must be made across the chain and how opportunistic behaviour may be circumscribed. Using empirically grounded analytics and real prices of olive oil intermediate produce from various official bodies, we show how the application of BT may be financially justified. This research shows how trust and WTP can be further enhanced through the use of BT and additional smart technologies in a supply chain, which may be projected on other supply chains of organic and sustainable food products.