Abstract
The purpose of this study is to make good use of the massive amount of online user comment data to explore and analyze the dimensions of customer-perceived value and the importance of each dimension, given the background of China’s huge e-commerce market. We compiled a web crawler program to collect online comment data from online reviews. The crawled data were pre-processed and content analysis were performed. A customer-perceived value dictionary was constructed based on the extraction of frequent terms, literature review, and expert opinions. We re-identified the dimensions of customer-perceived value to include four key dimensions and corresponding subdivisions. Both the rationality and operability of the dimension model of customer-perceived value were validated and applied. Thereafter, the importance of various dimensions and the impacts of customer-perceived value dimensions on customer loyalty were analyzed and discussed. The empirical research results reveal that all four dimensions of customer-perceived value play an important role in customer-perceived value and that the patterns and degrees of the role of each dimension are rather different. Further, only certain parts of the dimensions of customer-perceived value have an impact on customer loyalty, and the degree of the impact differs substantially.
Highlights
With the ongoing development of e-commerce, online shopping and the online shopping population are both rapidly expanding
We aim to evaluate and identify how to use online reviews to mine the source of customer-perceived value and determine which factors customers value in the e-commerce context
This study summarizes the key points of the concept of customer-perceived value on the basis of existing definitions: (1) It is based on a customer’s subjective judgment; (2) it is affected by numerous factors, with individual, temporal, and spatial differences; and (3) it is a comprehensive measurement of perceived gains and perceived losses
Summary
With the ongoing development of e-commerce, online shopping and the online shopping population are both rapidly expanding. The increase in the number of online transactions in China’s retail market has eliminated the regional pattern of the market and changed the mode of shopping and value generation. The convenience of obtaining product information has greatly improved for customers, and the pattern of information asymmetry between consumers and operators is quietly changing. The ability of consumers to evaluate their purchase experience and product use online enables information to be disseminated faster and to a much wider audience, thereby substantially increasing the importance of the word-of-mouth effect [2]. Consumers’ quality preferences, individualized demand, and rational consumption trends are becoming more well known, thereby making it more difficult to attract customers by reducing product prices
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