Does the sharing economy change conventional consumption modes?

Abstract

The development of peer-to-peer platforms has reduced the profitability of existing business operations. However, relatively few studies have explored consumer switching between sharing economy platforms and existing business operations. By using the push–pull–mooring framework, this study explores the predictors that affect consumer switching between a third-party online travel agent (OTA) platform and Airbnb to understand specifically how push, pull, and mooring factors shape consumers’ switching behaviors. Data are collected from 347 users of third-party OTA platforms and Airbnb through an online questionnaire survey. Confirmatory factor analysis and structural equation modeling are performed using AMOS 24.0. The findings reveal that push factors (low structural assurance and low standardization), pull factors (monetary saving, sustainability, interactivity, and authenticity), and mooring factors (substitutability) positively influence switching behavior. Substitutability moderates the positive effects of push factors on switching behavior. This study contributes to the PPM framework by identifying factors that influence consumers’ behavior of switching between a third-party OTA platform and Airbnb. In addition, this study is the first to consider substitutability and network externalities as mooring variables that facilitate switching by consumers. Airbnb and traditional hotels compete across various market segments, which results in substitutability as well as complementary relationships between them in some cities. Traditional business sections may also consider leveraging their strengths to distinguish themselves from new sharing economy services, thus delivering distinct value propositions to their consumers. This study provides reference that managers of third-party OTA platforms can use to differentiate their services from Airbnb and to maintain or increase profit by encouraging or discouraging switching among consumers.