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http://dx.doi.org/10.15722/jds.18.6.202006.93

The Effects of Consumption Value and Consumer Trust on Crowdfunding Participation Intention  

SHIN, Myoung-Ho (Hyupsung University)
LEE, Young-Min (Hyupsung University)
Publication Information
Journal of Distribution Science / v.18, no.6, 2020 , pp. 93-101 More about this Journal
Abstract
Purpose: While crowdfunding functions as a purchasing behavior, it is different from other purchasing behavior. It derives from non-existed idea and leads to production and purchase through continuous idea development with participants and participants' support is a proxy for future sales. This study researches on consumption value, customer's trust and consumer's innovativeness to reveal which constructs of consumption value and customer's trust should be considered. Research design, data, and methodology: Crowdfunding participation intentions were examined using consumer's consumption value and trust of platforms as independent variables, and consumer innovation as a control variable. A total of 175 surveys were used for analysis. The hypothesis was tested using hierarchical regression analysis. Results: The results showed economic, epistemic value and ability, benevolence consumer trust to have a significant effect in crowdfunding participation intentions. The moderating effect of innovation was shown to be significant in only economic value and benevolence. Conclusions: The economic and hedonic value of consumers should be emphasized, as well as the evaluation level of the project itself. Moreover, technology or system safety, competency, and product specific information, as well as user benefits for their ideas are core elements in attracting new participants.
Keywords
Crowdfunding; Market Entry; Consumer Trust; Consumption Value;
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