Do Consumer Values and Switching Barriers Influence Sharing Consumption Intention? A Cost-Benefit Approach

Authors

  • Hee-yeon Kim Kyonggi University
  • Sungjoon Yoon Kyonggi University

Keywords:

sharing consumption, consumer value, switching barrier, value-based adoption model (VAM), switching intent

Abstract

With the rapid spread of the sharing economy markets worldwide, shared services are expected to outpace existing services in near future, and numerous studies on the subject of sharing economy have been conducted. However, it is hard to find previous studies that have attempted to investigate the mechanism which causes consumers to switch from conventional services to sharing consumption. Therefore, this study aims to find out about the psychological as well as value-driven decision mechanism that affects consumers’ switching into shared services. In particular, this study incorporates Value-based Adoption Model (VAM) which simultaneously considers both costs and benefits of adopting shared products or services. This study found that economic/hedonic/social values of consumers have a significant impact on perceived benefits, but altruistic value did not have a significant effect. The perceived risk and alternative attractiveness of the switching barrier had a significant impact on perceived sacrifices, whereas ties did not have a significant impact. In addition, perceived benefits had a significant positive effect on the intent to switch, and perceived sacrifices had a significant negative effect on the intent to switch. Furthermore, perceived behavioral control had a significant moderating effect between perceived benefits and willingness to switch.

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Published

2022-07-23