Abstract
Purpose This study aims to examine the antecedents of perceived value in the Airbnb context using the variables of perceived benefits (i.e. monetary saving, hedonic benefit, novelty and social interaction) and perceived risks (i.e. performance, physical, psychological and time). Design/methodology/approach The study population was Airbnb users in South Korea. This study applied a survey research method using a questionnaire. A link to the survey was sent via e-mail to panel members of a multinational research company. Findings The results revealed the positive influence of monetary saving, hedonic benefit and novelty on perceived value and the negative influence of psychological risk on perceived value. Research limitations/implications The results of this study, which identified the specific factors that influence Airbnb users’ perception of value, can assist Airbnb managers and Airbnb hosts in developing appropriate marketing plans and strategies to enhance the value of their offerings. Originality/value This study provided empirical support to the inclusion of affective factors and risk in determining perceived value. Moreover, while previous Airbnb studies focused on consumers from Western countries (e.g. USA and Canada), this study used a sample of South Korean consumers.
Highlights
The concept of perceived value has long been used by researchers and marketers to understand the purchase decision-making behavior of consumers
On the basis of existing literature (Carlson Wagonlit Travel, 2015; Folger, 2016; Guttentag, 2015; Tussyadiah and Pesonen, 2016), we suggest that benefits associated with Airbnb use are monetary saving, hedonic benefit, novelty and social interaction
These findings suggest that South Korean Airbnb guests find value in using Airbnb because it allows them to have different and unique experiences, have fun and excitement and save money
Summary
The concept of perceived value has long been used by researchers and marketers to understand the purchase decision-making behavior of consumers. Many studies have shown that perceived value influences consumer behavior such as purchase intentions (Bajs, 2015; Cronin et al, 2000; Oh, 2000; Petrick, 2004). The literature is clear in indicating the consequences of perceived value, its antecedents have not been as well developed (Zauner et al, 2015). One explanation for this could be that the factors that influence perceived value can change depending on the context (Chen and Dubinsky, 2003). It is important that research should be conducted to identify the antecedents of perceived value in different contexts
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