| Title | Predicting consumer adoption of branded subscription services: A prospect theory perspective |
|---|---|
| ID_Doc | 68632 |
| Authors | Day, S; Godsell, J; Masi, D; Zhang, WR |
| Title | Predicting consumer adoption of branded subscription services: A prospect theory perspective |
| Year | 2020 |
| Published | Business Strategy And The Environment, 29, 3 |
| Abstract | Drivers of and barriers to consumer adoption of product-service systems (PSS) deviating strongly from the current consumption paradigm remain unidentified. This study quantitatively investigates purchase intentions of a hypothetical branded fashion subscription service. This service features use- and result-oriented PSS attributes in a lack of ownership, newness, and choice, and is investigated from a Prospect Theory perspective using a mixed method design combining an experiment with a survey (n = 524). Results show that even if the PSS provider is highly trusted by consumers, this only mitigates some of the worries consumers have about wearing used clothing and being held financially liable for product damage. The only driver of adoption is the opportunity to save money. Additional specific product information is also explored and shows that PSS providers have scope to change consumer perceptions. Overall, it appears that fashion ownership and choice are lesser issues than the literature suggests, although financial incentives are important. Furthermore, having a trusted brand allows a potential PSS provider to alleviate only some of the concerns consumers have. The contribution of this paper lies in its empirical findings as well as in its validation of Prospect Theory as a valid approach to enquiring into reasons for or against consumer adoption of complex PSS such as subscription services. |
| http://wrap.warwick.ac.uk/130819/1/WRAP-predicting-consumer-adoption-branded-subscription-services-prospect-theory-perspective-Day-2019.pdf |
Similar Articles
| ID | Score | Article |
|---|---|---|
78614
|
Kang, JY; Bissenbina, A; Faria, AA; Jang, J Psychological ownership rather than material consumption: Can fashion firms' new subscription services become an environmentally sustainable business strategy?(2024)Business Strategy And The Environment, 33, 3 | |
| 67594
|
Lang, CM; Armstrong, CMJ Fashion leadership and intention toward clothing product-service retail models(2018)Journal Of Fashion Marketing And Management, 22, 4 | |
| 18789
|
Demyanova, D; Colucci, M; Silva, ES; Vecchi, A Assessing consumers' propensity towards product-service systems in the fashion industry: A cross-national comparison between Russia and Italy(2023) | |
| 67644
|
Armstrong, CM; Niinimäki, K; Kujala, S; Karell, E; Lang, CM Sustainable product-service systems for clothing: exploring consumer perceptions of consumption alternatives in Finland(2015) | |
| 15455
|
Koay, KY; Lim, WM; Khoo, KL; Xavier, JA; Poon, WC Consumers' motivation to purchase second-hand clothing: a multimethod investigation anchored on belief elicitation and theory of planned behavior(2024)Journal Of Product And Brand Management, 33, 5 | |
| 66494
|
Becker-Leifhold, CV The role of values in collaborative fashion consumption - A critical investigation through the lenses of the theory of planned behavior(2018) | |
| 26919
|
Yeap, JAL; Ooi, SK; Yapp, EHT; Ramesh, N Preloved is reloved: investigating predispositions of second-hand clothing purchase on C2C platforms(2022) |