• Journal of the Korean Society of Clothing and Textiles
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• v.44 no.1
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• pp.175-191
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• 2020

This study proposes an entrepreneurship education process for fashion product start-ups through rewards-based crowdfunding. It examines issues such as: the general concept of crowdfunding and the pros and cons of rewards-based crowdfunding, the detailed curriculum plans in a chronological order for the regular class development, and the presentation of a visual plan to show the whole process. An entrepreneurship education process is developed in 13 steps: research on crowdfunding market, prototype plan, prototype production, story development, visual contents development, rewards development, project evaluation, public schedule & service setting, period setting & start funding, community management (Q&A), funding ends & deposit, complete manufacturing & start delivering, and the final information disclosure & open the next project plan. This research is intended to investigate rewards-based crowdfunding as a new paradigm of entrepreneurship and apply entrepreneurship education in fashion product development. However, it is limited to studying the Wadiz crowdfunding platform in Korea. Therefore, we propose a case study on various crowdfunding platforms in Korea, a case study on entrepreneurial curriculum application, and a follow-up study on the possibility of entry into an overseas crowdfunding platform.

• Human Ecology Research
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• v.61 no.3
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• pp.281-295
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• 2023

This study examined consumer attitudes and intentions to participate in reward-based crowdfunding projects for fashion products. We focused on consumer innovation, price sensitivity, conformity, and consumer values as factors that might influence such attitudes and intentions. A survey was conducted with 228 individuals aged 18 years and older who are aware of or have had experience using crowdfunding. Respondents were asked to answer questions based on the example of actual fashion crowdfunding projects. To analyze the data, reliability tests, the generation of descriptive statistics, factor analysis, and multiple regression were performed using SPSS 25.0. The results revealed that consumer innovativeness, non-conforming tendency, and emotional, quality, social, and ethnical consumer values had a significant influence on attitudes, which in turn affected intentions to participate in crowdfunding. Consumer innovativeness, price sensitivity, emotional value, and social value also had a direct influence on intentions to participate. In addition to its academic contribution, this study has important marketing implications for project initiators striving to identify and understand consumers who are willing to participate in reward-based crowdfunding for fashion products.

• The Journal of the Convergence on Culture Technology
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• v.7 no.3
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• pp.365-374
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• 2021

Recently, the high growth rate and advantages of the crowdfunding market have also led to increased participation of brands and companies, and this also applies to fashion business. Risk has been noted to be a key factor in consumer behavior in crowdfunding. With the high-risk context of crowdfunding where supporters inevitably bear to pay full amount of price before receiving the actual products. Factors enhancing or inhibiting perceived risk of crowdfunding need to be explored. The past literature on perceived risk and consumer attitudes in crowdfunding has expanded, but it has rarely covered the context of experience goods such as fashion products. In addition, the platform characteristics in relation to perceived risk should be addressed. The current study attempts to address the effect of the perceived amount of information offered in a fashion crowdfunding project on perceived risk and the intention to participate in the project. For the experiment of this study, a fictitious crowdfunding page for fashion products was set as the stimuli. A total of 240 Korean participants were recruited and their responses were statistically analyzed using SPSS 24.0 software. In the results, the greater the amount of detailed information about the fashion crowdfunding project, the higher the intention to participate the project. The greater the amount of information provided, the lower the perceived risk of consumers. Moreover, the lowered perceived risk affected the intention of participate. Perceived risk has a partial mediation in the relationship between the amount of information and intention to participate. Theoretical and managerial implications are discussed.

• Journal of Fashion Business
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• v.26 no.3
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• pp.155-167
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• 2022

Hanbok, a traditional Korean clothing, became a hip culture for young people in the late 2010s. As hanbok brands for young people appeared and distribution channels changed for them, hanbok appeared on the crowdfunding platform. This study summarized characteristics of hanbok provided as rewards by funding projects in Wadiz, the largest crowdfunding platform in Korea. Results of this study are as follows. First, since the first successful crowdfunding in 2015, it has shown rapidly growth. Second, as a result of examining the name of reward hanbok, 167 reward hanbok appeared. They could be divided into three periods: women's hanbok, unisex hanbok and trendy hanbok period. Third, looking at characteristics of reward hanbok from each period, feminine Chollic onepiece during the women's Hanbok period adopted the feminine interpretation of the original men's Hanbok. Characteristics of reward hanbok during the Unisex Hanbok period are in the direction of the closure. By adopting the direction of the closure of hanbok that both men and women can use, unisex hanbok is appeared. Finally, reward hanbok during the trendy hanbok period reflected trends such as genderless and hip. Hanbok reflected various trends from home culture to COVID-19 that occurred around the world at that time.

• The Journal of the Convergence on Culture Technology
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• v.7 no.4
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• pp.397-404
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• 2021

The web-based crowdfunding platform provides small-cap companies the opportunity to reduce financial risks and to reliably produce new products through pre-orders. Meanwhile, crowdfunding projects are also helping companies as a channel to test new products before mass production. Despite these advantages, from the point of view of businesses and consumers, it is true that web-based crowdfunding platforms have limitations in the retail environment. For example, the limited social elements of a web-based platform are somewhat in conflict with the basic characteristics of crowdfunding projects - which inevitably demand high social influences for the success. As such, understanding the mechanisms of social factors of crowdfunding platforms from the consumers' perspective is important. Therefore, in this study, we empirically tested the effect of social factors of crowdfunding platform on consumer participation and evaluation. Based on the Social Influence Theory and Social Presence Theory, we developed a conceptual framework where the social group size and social presence of other backers were the independent variables and the purchaser's intention to participate as the dependent variable. In the results, the size of the social group size and the perceived social presence have a significant positive effect on purchaser's participation intent. In addition, the social presence had a greater influence on the purchaser's intention to participate than the size of the sponsor's social group. We believe that our findings contribute to the extant literature by empirically demonstrating the valid effect of social factors of crowdfunding platforms on consumer evaluations.

• The Research Journal of the Costume Culture
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• v.25 no.6
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• pp.893-912
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• 2017

Crowdsourcing models in which organizaions obtain needed product ideas and services from a crowd in a network-based society are rising as a global industry trend. The purpose of this study was to figure out the types and characteristics of crowdsourcing design shown in the domestic fashion brands, and to provide implications for design strategies using crowdsourcing. This study was based on qualitative research which was brand case studies on crowdsourcing design in the fashion industry from January 2006 to July 2017. Also, quantitative analysis using frequency and percentage was applied. The results were as follows: First, crowdsourcing design was used in almost all types of fashion brands, such as sports and outdoor wear, men's wear, women's wear, men's and women's casual wear, shoes, bags, school uniforms, jeans, accessories, etc. Crowdsourcing design in the fashion industry was classified into three types: crowdsourcing graphics and artwork; crowdsourcing customized designs; and crowdsourcing product designs. Of the three types, crowdsourcing graphics and artwork was used most. There were four methods to choose the best crowsourced design: review only by experts, voting by crowd and review by experts, crowdvoting, and crowdfunding. Second, the characteristics of crowdsourcing design were openness, participation, reward and acknowledgement, sharing and interaction, and individualized collective intelligence. Crowdsourcing design could be used as an open innovation strategy in the fashion industry, which could collect new and creative design ideas for product development, resulting in the satisfaction of consumers and benefitting the company.