Tags:Blockchain, Brand Origin, CLT and Distribution
Abstract:
Blockchain is one of the key technologies that is reshaping retailers’ relationships with consumers. Blockchain’s uniqueness is its ability to ensure transparency, security, traceability, and accuracy of each transaction. Although the most common use of blockchain technology is in financial applications, its distinctive transaction mechanism is increasingly drawing the attention of other industries’ scholars and practitioners. Particularly, one of the most engaging use cases for blockchain technology is in the area of food supply chain management. Indeed, due to globalization, supply chains are becoming more complex than ever, impeding both suppliers and consumers from having full access to chains’ transaction information. Consumers want to know the product’s origin, where it has been processed, or who distributed it. Having realized the value of blockchain technology, several food retailers around the world have made available blockchain-based apps through which consumers can follow food products across their entire lifecycle, from raw materials to retail centers. However, despite the widespread opinion that blockchain technology will radically significantly affect the retailing landscape, to the best of our knowledge, there is still scarce empirical evidence that shows whether and how this technology is changing the relationships between retailers andwill affect consumersconsumer’ perceptions and behaviors. Specifically, no empirical study has focused on the effects of blockchain technology on value perceptions and consumers’ patronage intentions. To fill this gap, we rely on Construal-Level Theory, mental imagery, and Signaling Theory, to address the following research questions: (RQ1) How does blockchain technology affect the unfolding of retail consumers’ perceptions? (RQ2) Does blockchain technology influence more consumers’ intentions to patronize than conventional certification labels?
What You See Is What You Get: the Impact of Blockchain Technology on Retail Consumers’ Perceptions