Search results

Fourth Industrial Revolution (IR 4.0) technologies have strong potential to affect consumer well-being, positively or negatively, so the current paper aims to review potential opportunities and threats that these technologies represent for consumers in several core economic sectors: health care, education, financial services, manufacturing and retailing.

This paper proposes a conceptual framework for how IR 4.0 technologies affect consumer well-being in five representative sectors: health care, education, financial services, manufacturing and retailing. The authors argue that the potential transformations of these specific sectors, facilitated by these technologies, may have profound effects on consumer well-being, with urgent public policy implications.

Emerging technologies, such as artificial intelligence, robotics, the Internet of Things, three-dimensional printing, machine learning and blockchain, provide customers with novel approaches toward decisions regarding health, education, finances and other fundamental parts of their lives. The organizations that provide these services, such as hospitals, universities and banks, actively adopt the innovations offered by IR 4.0. These evolving and disruptive technologies thus are changing reality for consumers and providers.

This paper proposes some novel public policy implications of IR 4.0 technologies for consumer well-being, and it outlines further research directions that can enhance understanding of relevant technologies and the consequences of their use for society.

Consumers worldwide are increasingly adopting mobile payments. However, despite its global popularity, this innovation did not diffuse among American consumers extensively. As of 2019, less than 30% of smartphone users in the USA engaged in mobile payments. The purpose of this paper is to investigate drivers of mobile payment adoption in the USA and to explore the mediating factors of consumers’ attitudes toward mobile payments.

Data were collected through Amazon M-Turk in the USA with 222 final respondents. Participants received an incentive to participate in this study. The measurement and structural models were evaluated by the component-based partial least squares (PLS) approach using Smart-PLS 3 software.

The study shows several factors affecting consumers’ attitudes toward mobile payments. Specifically, relative advantage, compatibility, observability, perceived security and convenience influence attitudes toward mobile payments and, consequently, behavioral intent to use mobile payment technology. This investigation contributes to the ongoing inquiry on the adoption of mobile payment technology in the USA. It offers specific insights for managers on how to increase mobile payment adoption. The study establishes a modified diffusion of innovations (DOI) model of consumer attitudes toward the use of mobile payments.

The objective of this study is to focus mainly on consumers in the USA, and it limits the generalizability of this study.

This study contributes to the current research on mobile payment adoption. Based on theoretical considerations, the authors derived a research model specifying critical drivers of an individual’s intentions to use mobile payments. Specifically, we establish a modified DOI-based model of consumer attitudes towards mobile payments. It shows several contributing factors affecting consumers’ attitudes toward mobile payments. The paper has important managerial implications aimed at the increase of the diffusion of mobile payments in the USA.

Technological progress and the advancement of the 4th Industrial Revolution (IR 4.0) are well underway. However, its influence on the transformation of core sectors from the perspective of consumer well-being remains under-explored. Seeking to bridge this gap in the marketing and public policy literature, this study aims to propose a conceptual framework to explicate how data-driven, intelligent and connected IR 4.0 technologies are blurring traditional boundaries between digital, physical and biological domains.

This is a conceptual paper using primarily a literature review of the field. The authors position the work as a contribution to consumer well-being and public policy literature from the lens of increasingly important in our technology-integrated society emerging technologies.

The authors define and conceptualize technology-enabled well-being (TEW), which allows a better understanding of transformative outcomes of IR 4.0 on three essential dimensions of consumer well-being: individual, societal and environmental. Finally, the authors discuss public policy implications and outline future research directions.

The authors highlight specific gaps in the literature on IR 4.0. First, past studies in consumer well-being did not incorporate substantial changes that emerging IR 4.0 technologies bring, especially across increasingly blurring digital, physical and biological domains. Second, past research focused on individual technologies and individual well-being. What is unaccounted for is the potential for a synergetic, proactive effect that emerging technologies bring on the aggregate level not only to individuals but also to society and the environment. Finally, understanding the differences between responses to different outcomes of technologies has important implications for developing public policy. Synergetic, proactive effect of technologies on core sectors such as healthcare, education, financial services, manufacturing and retailing is noted.

Drawing on embodied cognition and construal level theory perspectives in marketing literature, the purpose of this study is to propose that closed eyes make events appear distant and increase high-level construal and abstract processing, whereas opened eyes make events appear near and increase low-level construal and concrete processing. The authors further argue that high (low) construal level induced by closed (open) eyes increases favoritism toward utilitarian (hedonic) appeals.

Drawing on embodied cognition and construal level theory, the authors conduct three studies to investigate how consumers form varying distance perceptions and attitudes toward advertising appeals depending on whether they open or close their eyes while contemplating the messages. In Study 1, the authors tested the effects of an advertisement featuring utilitarian versus hedonic appeals in a food waste reduction campaign. In Study 2, the authors tested the effects of an advertisement stressing utilitarian versus hedonic aspects of a brand of travel products. In Study 3, the authors tested the effects of an advertisement for hotel reward products depending on consumption motivations.

The studies support the hypothesis by showing that when individuals close their eyes, they form abstract processing styles (high-level construal), perceive events as more distant and increase preferences for utilitarian advertising appeals; when they open their eyes, they form concrete processing styles (low-level construal), perceive events as nearer and indicate preferences for hedonic advertising appeals.

The novel insight of this study shows how bodily sensations may affect various types of hedonic and utilitarian advertising appeals. This study contributes to the embodied cognition and construal level literature, but the contribution of this study is particularly important for marketers and advertisers in that the authors show interactions between open or closed eyes, hedonic or utilitarian product aspects and processing styles.

In this study, we focus on consumer perceptions of cryptocurrencies. We hypothesize that knowledge of cryptocurrencies, trust in government, and the speed of transactions are the main factors contributing to consumers' trust in cryptocurrencies.

451 MTurk workers, a convenient sample incentivized with a small monetary payment, participated in a cross-sectional online study with cryptocurrencies serving as the focal product category.

We obtained support for our hypothesized notion that knowledge of cryptocurrencies, trust in government, and the speed of transactions are the main factors contributing to consumers' trust in cryptocurrencies. Our research makes several important theoretical contributions. First, we demonstrate that consumers who understand and know how cryptocurrencies work are more likely to trust and invest in the currency. Next, we demonstrate that consumers are more likely to trust cryptocurrencies and their peer-to-peer transactions if, preferably, they take place via a central issuer and are regulated by their respective governments.

This study is the first known paper to focus on cryptocurrencies from the consumers' perspective. Next, we identify key antecedents of trust towards cryptocurrencies. Second, we reveal the role of government concerning cryptocurrencies. Finally, FinTech firms and banks (should they choose to enter the cryptocurrency market) need not spend time and money on marketing, advertising, and promotions in order to try to allay consumers' anxiety when it comes to their uptake in the different digital currencies. Rather, this would allow the FinTech firms and banks to allocate resources to focus their attention on marketing, advertising and promoting the factors (i.e. knowledge, trust in government, and speed of transaction) that drive intent to invest in cryptocurrencies.

The concept of grit has been receiving increased attention in recent years. Grit is a trait that enables individuals to persevere while facing challenges and obstacles in life, sometimes “winning at any cost”. The purpose of the study is to understand how ethical views may vary among different groups of people segmented on grittiness. Our key argument is that grittier segment is more inclined towards Machiavellian factors (amorality, desire for control, desire for status, distrust of others) and materialism.

Data derived from self-administered questionnaires completed by convenience samples of Indonesians living in Daerah Istimewa Yogyakarta (DIY), a region commonly considered as the miniature of Indonesia. Turning to market segmentation tools (n = 467), we first segment people based on their level of grittiness and, subsequently, investigate each segment's perception towards various Machiavellian factors (amorality, desire for control, distrust of others) and materialistic attitudes.

The study identified three segments of grittiness: The Least Gritty (the Good), The More Gritty (the Bad) and The Most Gritty (the Ugly). The results of this study showed the dark side of grit. Individuals with higher grit traits are more likely to behave unethically which could be referred to as “bad” and “ugly”. To help them succeed, cheating and lying are more likely considered acceptable by gritty individuals compared to less gritty “good” individuals.

Merely focussing on grit–be it grit promotion or training–may produce individuals who achieve success at all costs and disregard ethical values. An implication from the study is not to discourage developing grit in individuals but instead to add and emphasise ethical components. This implication is especially critical for educators and managers developing grit as a part of their activities.

The results of this study will have important theoretical implications and managerial implications educators balancing the consequences of teaching grit, but also for managers interested in understanding employees' level of grit within their workplaces along with ethical considerations.