18-20 March 2015
Cologne University of Applied Sciences, Germany
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B 6: e-Commerce
Investment, Purchase or Alms – The Motivation of Investors in Reward-Based Crowd-funding in the Video Gaming Industry
University of Cologne, Germany
Relevance & Research Question: I present an inductive and explorative study of the emerging phenomenon of reward-based crowdfunding, where investors commit resources to product development projects in exchange for rewards. The unique risk and value appropriation structure, strongly favoring the developer over the investor, raises the question why investors commit resources to such product development processes.
Methods & Data: The paper is based on an internet survey of active crowdfunding investors, contributing to Kickstarter video game development projects. N=410 investment decisions.
Results: In a mixed-method study in the video game industry, I identify two sub-groups of investors, “buyers”, who are interested in acquiring a product from a specific developer, and “involved” investors, who additionally value insights into the development process and aim for an impact on the industry. The match between a focal project and an investor’s preferences strongly predicts per-capita investments for “involved” investors, while the funding goal and a time effect are relevant predictors for per-capita investments of all investors. I also find that reputation is the core mechanism of risk mitigation. Reward-based crowdfunding resembles a multi-stage game of repeated market contacts, where previous success builds reputation allowing future fundraising. Surprisingly, considerations of distributive justice do not play a role for investors in reward-based crowdfunding.
Added Value: My study advances our understanding of investor motivation in reward-based crowdfunding. I analyze an original sample of crowdfunding investors and obtain information based on statistical analyses as well as inductive text analyses. Reward-based crowdfunding is a dynamic phenomenon, developing rapidly and through identifiable steps. I discuss trends and identify research opportunities, in particular for stakeholder theory, justice and sensemaking research.
The Online Cross-border Shopping Experience
1Amsterdam University of Applied Sciences, The Netherlands; 2VU University Amsterdam, The Netherlands
Relevance & Research Questions: Many e-retailers that are looking for opportunities to expand beyond the domestic market are challenged to develop customized marketing strategies. To be able to target customers in other countries, e-retailers need insight into the motivations and attitudes of consumers. This research adds to the literature on cross-border e-commerce by providing insight into the specific contribution of various factors that affect consumers’ purchase intentions when shopping online in neighboring countries.
Based on the literature on the comparison between online and offline shopping (e.g., Rohm and Swaminathan, 2004), the first factor considered is shopping motivation or consumers’ need for new sources of more variety. The second factor is consumers’ value-consciousness (Sharma, 2011). The third factor and expected to be the main driver is consumers trust in the online cross-border transaction being successful (Beatty et al., 2011). A main barrier may be risk perceptions, associated with a potential loss of time or money (Featherman and Pavlou, 2003).
Method: The survey method was used to collect data among a representative sample of Dutch consumers using an online panel of a marketing research agency. Questions pertained to web shops in the Netherlands and web shops in the neighboring countries, Belgium, United Kingdom and Germany. Respondents were randomly allocated to one of the 4 web shops. Structural equation modelling was used to estimate the model.
Results: Results show that Dutch consumers had lower purchase intentions when visiting foreign web shops compared with domestic web shops. When shopping abroad, Dutch consumers are most willing to purchase at German and Belgian web shops. Consumers’ e-trust is the most important factor explaining purchase intentions. Furthermore, e-trust even reduces the negative effect of consumers’ risk perceptions. Further, higher variety (than provided by domestic web shops) has a positive effect on cross border purchase intention in some, but not all countries. Last, high value consciousness has a negative effect on buying intention at cross-border web shops.
Added Value: This research further enhances our understanding of customers’ cross-border online purchase intentions. Enhancing consumers’ e-trust, and lowering their risk perceptions, will increase consumers’ purchase intentions at cross-border web shops.
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