• Title/Summary/Keyword: Perceived Scarcity

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Investigating the Effects of Art Product's NFT Characteristics on Purchase Intention for Self and Others

  • Seung-Ho Ryu;Hyeon-Cheol Kim
    • International journal of advanced smart convergence
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    • v.12 no.4
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    • pp.334-343
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    • 2023
  • A research model was developed in this study from previous research to illustrate the relationship among perceived scarcity, assumed expensiveness of art products, perceived functional value, perceived symbolic value as well as purchase for self and others. 639 valid cases who have experienced NFT art products have been collected for data analyses. The R software has been chosen for analysis. The results have revealed that perceived scarcity was positively related to perceived functional value and perceived symbolic value, but it was assumed that the expensiveness of art products was not significantly related to perceived functional value or perceived symbolic value. Moreover, functional value was significantly related to the purchase intention of both self and others, while symbolic value only was significantly affected by the purchase intention of others. The results of this study have provided managerial implications for future studies.

Perceived Product Value and Attitude Change Affecting Web-based Price Discount Level and Scarcity (웹 기반 가격할인 수준과 희소성이 영향을 주는 지각된 제품 가치와 태도 변화)

  • Zhang, Yutao;Lim, Hyun-A;Choi, Jaewon
    • The Journal of Information Systems
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    • v.27 no.2
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    • pp.157-173
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    • 2018
  • Purpose Product characteristics and price value in website have strongly effects on customer satisfaction. Especially, in the online shopping site, the scarcity limits the customer's opportunity to purchase the product. Thus scarcity has been proposed as a important factor that makes the customer highly aware of the merchantability of the product. The scarcity in the web store is used as an important variable to make purchasing decisions of users easier by psychological pressure. In the case of scarce products with price discounts in online commerce, advertising formats that highlight scarcity value in the web commerce market are very effective in enhancing purchase intentions of consumers. Unlike offline stores, the importance of scarcity becomes more important when reflecting the characteristics of online commerce. Therefore, this study intends to confirm the influence of the degree of price discounts and scarcity information presented by Web sites on consumer purchase behavior in Web purchase behavior. Design/methodology/approach This study conducted a web-based experimental study on price sensitivity and price discount. Therefore, we created experimental web-sites that offer two stimuli according to the discount rate. The 200 respondents were randomly assigned. The stimuli were fictitious based on tourism products. The first stimulus presented the price discount(15% discount) with basic explanation about the package of the tourist package. The stimuli assigned to the second group were used for groups with high price discount intensity(65% discount). In this way, the two stimuli clearly distinguished the level of price discount intensity. This paper conducted t-test analysis and structural equation to analyze the experiemental results after confirming the reliability and validity. Findings The results of this study are as follows. The difference in price discount intensity (15% vs 65%) with scarcity showed the mean difference among all the variables. Therefore, this study concluded that there is a significant difference between the price discount of 15% and 65% for the acquisition value and transaction value of users. In particular, consumers' purchase intention is greater and product recommendation intensity is stronger when the price discount is 65%. As a result, the high degree of the price discount intensity with scarcity exerts a greater influence on consumers' purchase intentions. Product scarcity also have a significant impact on perceived value of users. Therefore, purchase intention of customers increases when perceived value increases their profit and pleasure feeling.

The Effects of Intention Inferences on Scarcity Effect: Moderating Effect of Scarcity Type, Scarcity Depth (소비자의 기업의도 추론이 희소성 효과에 미치는 영향: 수량한정 유형과 폭의 조절효과)

  • Park, Jong-Chul;Na, June-Hee
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.195-215
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    • 2008
  • The scarcity is pervasive aspect of human life and is a fundamental precondition of economic behavior of consumers. Also, the effect of scarcity message is a power social influence principle used by marketers to increase the subjective desirability of products. Because valuable objects are often scare, consumers tend to infer the scarce objects are valuable. Marketers often do base promotional appeals on the principle of scarcity to increase the subjective desirability their products among consumers. Specially, advertisers and retailers often promote their products using restrictions. These restriction act to constraint consumers' ability th take advantage of the promotion and can assume several forms. For example, some promotions are advertised as limited time offers, while others limit the quantity that can be bought at the deal price by employing the statements such as 'limit one per consumer,' 'limit 5 per customer,' 'limited products for special commemoration celebration,' Some retailers use statements extensively. A recent weekly flyer by a prominent retailer limited purchase quantities on 50% of the specials advertised on front page. When consumers saw these phrase, they often infer value from the product that has limited availability or is promoted as being scarce. But, the past researchers explored a direct relationship between the purchase quantity and time limit on deal purchase intention. They also don't explored that all restriction message are not created equal. Namely, we thought that different restrictions signal deal value in different ways or different mechanism. Consumers appear to perceive that time limits are used to attract consumers to the brand, while quantity limits are necessary to reduce stockpiling. This suggests other possible differences across restrictions. For example, quantity limits could imply product quality (i.e., this product at this price is so good that purchases must be limited). In contrast, purchase preconditions force the consumer to spend a certain amount to qualify for the deal, which suggests that inferences about the absolute quality of the promoted item would decline from purchase limits (highest quality) to time limits to purchase preconditions (lowest quality). This might be expected to be particularly true for unfamiliar brands. However, a critical but elusive issue in scarcity message research is the impacts of a inferred motives on the promoted scarcity message. The past researchers not explored possibility of inferred motives on the scarcity message context. Despite various type to the quantity limits message, they didn't separated scarcity message among the quantity limits. Therefore, we apply a stricter definition of scarcity message(i.e. quantity limits) and consider scarcity message type(general scarcity message vs. special scarcity message), scarcity depth(high vs. low). The purpose of this study is to examine the effect of the scarcity message on the consumer's purchase intension. Specifically, we investigate the effect of general versus special scarcity messages on the consumer's purchase intention using the level of the scarcity depth as moderators. In other words, we postulates that the scarcity message type and scarcity depth play an essential moderating role in the relationship between the inferred motives and purchase intention. In other worlds, different from the past studies, we examine the interplay between the perceived motives and scarcity type, and between the perceived motives and scarcity depth. Both of these constructs have been examined in isolation, but a key question is whether they interact to produce an effect in reaction to the scarcity message type or scarcity depth increase. The perceived motive Inference behind the scarcity message will have important impact on consumers' reactions to the degree of scarcity depth increase. In relation ti this general question, we investigate the following specific issues. First, does consumers' inferred motives weaken the positive relationship between the scarcity depth decrease and the consumers' purchase intention, and if so, how much does it attenuate this relationship? Second, we examine the interplay between the scarcity message type and the consumers' purchase intention in the context of the scarcity depth decrease. Third, we study whether scarcity message type and scarcity depth directly affect the consumers' purchase intention. For the answer of these questions, this research is composed of 2(intention inference: existence vs. nonexistence)${\times}2$(scarcity type: special vs. general)${\times}2$(scarcity depth: high vs. low) between subject designs. The results are summarized as follows. First, intention inference(inferred motive) is not significant on scarcity effect in case of special scarcity message. However, nonexistence of intention inference is more effective than existence of intention inference on purchase intention in case of general scarcity. Second, intention inference(inferred motive) is not significant on scarcity effect in case of low scarcity. However, nonexistence of intention inference is more effective than existence of intention inference on purchase intention in case of high scarcity. The results of this study will help managers to understand the relative importance among the type of the scarcity message and to make decisions in using their scarcity message. Finally, this article have several contribution. First, we have shown that restrictions server to activates a mental resource that is used to render a judgment regarding a promoted product. In the absence of other information, this resource appears to read to an inference of value. In the presence of other value related cue, however, either database(i.e., scarcity depth: high vs. low) or conceptual base(i.e.,, scarcity type special vs. general), the resource is used in conjunction with the other cues as a basis for judgment, leading to different effects across levels of these other value-related cues. Second, our results suggest that a restriction can affect consumer behavior through four possible routes: 1) the affective route, through making consumers feel irritated, 2) the cognitive making route, through making consumers infer motivation or attribution about promoted scarcity message, and 3) the economic route, through making the consumer lose an opportunity to stockpile at a low scarcity depth, or forcing him her to making additional purchases, lastly 4) informative route, through changing what consumer believe about the transaction. Third, as a note already, this results suggest that we should consider consumers' inferences of motives or attributions for the scarcity dept level and cognitive resources available in order to have a complete understanding the effects of quantity restriction message.

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The Effect of Perceived Risk, Scarcity Message in the CATV Homeshopping Ad, and Purchasing Experience on CATV Homeshopping Consumers Response (케이블 TV홈쇼핑 프로그램에서 지각된 위험과 희소성 메시지가 이용경험이 다른 소비자의 반응에 미치는 영향에 관한 연구)

  • Lee, Kyu-Wan;Koo, Ja-Eun
    • Korean journal of communication and information
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    • v.32
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    • pp.209-245
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    • 2006
  • This study examines primarily the effects of perceived risk and scarcity massage on consumers in CATV homeshopping. For consumers, the perceived risk is the cause of delaying purchase decision in CATV Homeshopping while scarcity message in the Ad facilitate purchasing intention in the CATV homeshopping. And another important characteristic of consumer which exerts impact on the response of consumer to the Ad and the product is the frequency of purchasing experience. Thus the purpose of this study is to test the effect of 3 factors on consumer's response to homeshopping Ad and product: one is perceived risk, another is scarcity message and the third is consumer's difference in purchasing. And these are defined as independent variables. The responses of the consumer, the dependent variables of this test are measured in three dimensions; 1) the purchasing intention of the product, 2) the attitude toward the Ad, and 3) the attitude toward product of the consumer. 110 housewives are sampled and assigned to 4 experimental groups. All the groups first watched a video-taped homeshopping Ad messages, and then filled up their responses on the administered questionnaire. The results of this study shows as follows: 1) Perceived risk has negative effect to consumer response. 2) Scarcity message has positive effect to consumers response. 3) But especially perceived risk has negative effect to high frequency purchasing experience group. 4) Scarcity message has also negative effect to high frequency purchasing experience group. 5) The interaction effect of perceived risk and scarcity message is most prominent to the consumers of high frequent purchasing experience.

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The Influence of Scarcity Message on Customers' Perceived Value, Satisfaction, and Repurchase Intention in the Context of Group-Buying Social Commerce (공동구매형 소셜커머스에서 희소성메시지가 고객의 지각된 가치, 만족, 재구매의도에 미치는 영향)

  • Choi, Sujeong
    • Journal of Information Technology Applications and Management
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    • v.23 no.1
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    • pp.97-117
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    • 2016
  • Drawing on the theoretical framework of customer value-satisfaction-loyalty, this study examines how scarcity message influences customers' value, satisfaction, and loyalty in the context of group-buying social commerce. Previous studies have argued that scarcity message limiting the avilability of products and service is a source of enhancing customer value. In this regard, this study posits scarcity message as a predictor of customer value. Furthermore, this study classifies customer value into two forms (i.e., utilitarian value and hedonic value) and verfies how scarcity message is associated with them. To test the proposed research model and hypotheses, this study performed structural equation modeling (SEM) analyses, using a total of 292 data collected on users who have experience in purchasing products and service through group-buying social commerce sites such as Coupang, Timon, and WeMakePrice. The key results are as follows : First, scarcity message increases utilitarian and hedonic values and further customer satisfaction. Second, utilitarian value increases customer satisfaction and repurchase intention while hedonic value has nothing to do with them. The findings imply that customers seek to maximize utilitarian value through group-buying social commerce. Finally, this study indicates that repuchase intention depends greatly on customer satisfaction.

The antecedents of purchasing fast fashion brands (패스트 패션 브랜드 구매의 선행변수)

  • Park, Hye-Jung
    • The Research Journal of the Costume Culture
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    • v.21 no.6
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    • pp.827-843
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    • 2013
  • The purpose of this study is to identify the antecedents of the attitudes toward purchasing fast fashion brands and the frequency of purchasing fast fashion brands. As antecedents, a few brand-related variables and a consumer-related variable were considered. Perceived perishability, perceived scarcity, perceived quality, and perceived low price were included as brand-related variables and congruity between self image and fast fashion brand image was included as a consumer-related variable. It was hypothesized that both brand-related and consumer-related variables directly influence the attitudes toward purchasing fast fashion brands and then influence the frequency of purchasing fast fashion brands. Data were gathered by surveying university students in Seoul, using convenience sampling. Two hundred twenty seven questionnaires were used in the statistical analysis, exploratory factor analysis using SPSS and confirmatory factor analysis and path analysis using AMOS. The results showed that all the fit indices for the variable measures were quite acceptable. In addition, the overall fits of the model suggest that the model fits the data well. The hypothesized relationship test proved that perceived perishability, perceived quality, and congruity between self image and fast fashion brand image influence the attitudes toward purchasing fast fashion brands and then influence the frequency of purchasing fast fashion brands. The results suggest some effective marketing strategies for marketers in the fast fashion industry.

Impacts of scarcity message on impulse buying of fashion products in mobile shopping malls (모바일 패션제품 구매에서 희소성 메시지가 충동구매행동에 미치는 영향)

  • Park, Eun Joo
    • Journal of the Korea Fashion and Costume Design Association
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    • v.22 no.4
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    • pp.25-38
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    • 2020
  • Impulse buying occurs when consumers feel an urge to impulsively buy a product without thoughtful consideration of why and for what reason they need the product. However, few efforts have been made to identify the impacts of perceived scarcity on the impulse buying of fashion products in mobile shopping malls. This study's objectives were to estimate, using structural equation model analysis, the impact of a scarcity message on browsing, feeling the urge to buy, and impulse buying of fashion products on mobile shopping malls. Data was collected from 206 customers who experienced to impulse buying fashion products via objective sampling. Structural equation modeling was used to test the hypotheses developed for the study. Results found evident effects of the scarcity message on the impulse buying of fashion products directly and indirectly. Additionally, consumers felt the urge to buy had a significant impact on the impulse buying of fashion products, whereas browsing had little impact on the impulse buying of fashion products. This is an expanded study to examine structural equation modeling of impulse buying of fashion products on mobile shopping malls. These results will contribute to a better understanding of the mechanisms that underlie the operation of an effective scarcity strategy for fashion products on mobile shopping malls.

The Effects of Male Consumer Clothing Consumption Values on the Perceived Attributes of Online Fashion Multi-brand Store and Use Intention (남성소비자의 의복소비가치가 온라인 패션 편집매장의 특성 지각과 이용의도에 미치는 영향)

  • Jeong, Hyerin;Kim, Hanna
    • Journal of Fashion Business
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    • v.25 no.2
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    • pp.18-33
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    • 2021
  • This study sought to understand the clothing consumption values of male consumers and analyze the attributes of online fashion multi-brand stores. The study examined the effect of clothing consumption values of male consumers on the perceived attributes of online fashion multi-brand stores and use intention. The study also aimed to investigate whether online information search moderated the relationship between the perceived attributes of online fashion multi-brand stores and use intention. An online survey of male consumers in their 20s and 30s was conducted, and a total of 338 responses were analyzed. The SPSS 24.0 program was used to perform frequency analysis, factor analysis, reliability analysis, regression analysis, and stepwise-regression analysis. The results are as follows. First, fashionableness out of the four attributes of online fashion multi-brand stores (fashionableness, entertainment, variety, and scarcity) influenced the practical and conspicuous values of clothing consumption values. Entertainment had a significant effect on all clothing consumption values. Variety had a significant impact on practical and conspicuous values and the scarcity factor influenced epistemic and conspicuous values. Second, while entertainment, variety, and scarcity influenced sharing intention, fashion, entertainment, and variety influenced purchase intention. Third, online information search moderated the relationship between the perceived attributes of online fashion multi-brand stores and sharing intention but not purchase intention.

A Study on Cross-border Online Shoppers for Fashion Products by Benefit Sought

  • An, Sangheuk;Jung, Jihoon;Lee, Hyun-Hwa
    • International Journal of Costume and Fashion
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    • v.16 no.2
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    • pp.25-50
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    • 2016
  • The purpose of the study was to identify dimensions of benefit sought where consumer cross-border online shoppers seek and to examine the effects of the dimensions on expectancy, perceived performance, disconformity and satisfaction with cross-border online shopping. A total of 258 data were gathered and analyzed using SPSS 22.0. The results of the study identified that six dimensions of benefit sought of cross-border online shopping, which were economic-efficiency, convenience, uniqueness, scarcity, superiority and conformity seeking. There were significant effects of economic-efficiency, scarcity and uniqueness seeking on the expectancy, perceived performance, and satisfaction. In addition, consumers were segmented as four clusters classified using benefit sought of cross-border online shopping. The four clusters were labeled as "high interest type", "disinterested type", "unique scarcity type", and "price-first unfussy type". The significant differences were found among the clusters in the research constructs of expectancy and disconfirmation theory. The findings of the study suggested practical and managerial implications.

Investigating the Influence of NFT ART Characteristics on Consumer Perceived Value: Insights from Purchasing Experience (NFT ART의 특성이 지각된 가치에 미치는 영향에 관한 연구)

  • Jeong, Young Soon;Jeong, Ji Eun;Lee, Chae Hyun;Park, Jong Woo
    • Journal of Korean Society for Quality Management
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    • v.52 no.2
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    • pp.255-274
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    • 2024
  • Purpose: Non-Fungible Token (NFT) ART, based on NFT technology, represents a novel form of art that has recently garnered significant attention in the art market. NFT technology enables the assertion of ownership over digital data, introducing the concept of ownership into the digital realm. As digital data gains ownership, NFT ART is anticipated to be positively viewed as an investment and expected to become more active due to the characteristics of this new technology. Therefore, this study aims to verify the influence of NFT ART characteristics on perceived value. This study contributes to extracting the distinctive characteristics of NFT ART compared to other forms of art and to understanding the perceived value of NFT ART among consumers with purchasing experience. Methods: This study applied structural equation modeling to explore the relationships among the variables using SPSS 26.0 and R program version 4.2.3. A total of 320 questionnaires were retrieved, all of which were adopted as valid analytical samples without missing values. Results: The findings indicate that the decentralization, transparency, and scarcity of NFT ART positively influence the perceived usefulness and enjoyment among consumers, while security does not have a significant impact. This suggests that higher levels of decentralization, transparency, and scarcity in NFT ART enhance perceived usefulness and enjoyment for consumers, significantly influencing the perceived value. Furthermore, it was confirmed that these characteristics are considered important values and perceptions from the consumer's perspective. Conclusion: The research presents positive factors for the activating of purchases among consumers considering buying NFT ART. It emphasizes the necessity of benefits for all participants to activate the art market. Additionally, the perceived value provides crucial insights for inducing active purchasing behavior in the NFT ART market and serves as a foundational study for further research.