How Cryptocurrencies Affect Retail Purchases

Scientific seminars

Anne Roggeveen, Professeure, Babson College

Séminaire organisé par le Département de marketing

Ouvert à tous.

Salle : Tokyo, 1er étage, section verte, édifice Côte-Sainte-Catherine

Information sur la conférence :
How Cryptocurrencies Affect Retail Purchases Introducing a new currency in an existing market offers a potentially influential, alternative currency option—a prediction that prompts the current research into how consumers evaluate cryptocurrencies and the effects on their spending. Nine studies (three presented in Web Appendixes) consistently demonstrate that paying with cryptocurrencies reduces purchase intentions, mediated by the pain of payment. However, if a cryptocurrency is positioned as a payment mechanism, consumers’ purchase intentions remain similar to those they express for fiat currencies. This mental accounting explanation is confirmed with field data. The authors also demonstrate that the negative impact can be mitigated if the cryptocurrency is introduced as a virtual currency. Finally, the negative impact of cryptocurrencies is mitigated for higher priced products. These results offer important theoretical insights into how payment mechanisms affect purchases, as well as managerial insights about how cryptocurrency providers and retailers can increase uses of cryptocurrency as a payment mechanism.

Information sur la conférencière :
Anne Roggeveen (Ph.D. Columbia University) is the Charles Clarke Reynolds Professor of Retailing & Marketing at Babson College. Her research primarily focuses on topics related to retailing and service. She was Editor-in-Chief for the Journal of Retailing and has served on many editorial review boards including Journal of Marketing, Journal of the Academy of Marketing Science, and Journal of Service Research. She is a Fractional Professor at the University of Bath and a Distinguished Visiting Professor in Retail and Marketing at Tecnológico de Monterrey. She has served on the AMA Academic Council and was as an Honorary Visiting Professor at Center for Retailing, Stockholm School of Economics. Her research has been widely published including in Journal of Marketing, Journal of Marketing Research, Journal of Consumer Research, Journal of the Academy of Marketing Science, and Journal of Retailing. She has won many awards for her research, teaching, and service.