Purpose: The growth of information and communication technology and the appearance of the sharing economy have affected the market. This trend will potentially create a competitive transformation, especially in the accommodation sector. While Airbnb has become the leader in the sharing economy, more competitors are coming into the market, some with different business propositions and positioning strategies, thereby offering different points of differences (PODs). The purpose of this study is to identify and compare the factors that influence the usage of peer-to-peer (P2P) accommodation services for trading activity (renting vs lending), particularly between Airbnb and Couchsurfing. More specifically, this study examines the causal relationships among some major factors that influence customers’ purchase intentions, such as perceived risk, perceived value, price sensitivity and word of mouth. Design/methodology/approach: A total of 400 millennial respondents – 200 for each service – who have used the respective mobile applications participated in the online survey. Using structural equation modeling, the analysis revealed that the model acts differently across the groups. Findings: The results revealed that Airbnb respondents paid more attention to perceived risks when booking the accommodation, thus indicating that they are more risk-averse, whereas Couchsurfing’s users sought the perceived value that they would receive at the destination. Practical implications: The findings of this study are beneficial for Airbnb and Couchsurfing in particular and players in the industry in general. Originality/value: This study reveals that factors that influence the intention to use the sharing economy platform work differently based on the form of trading activities.
|Journal||International Journal of Culture, Tourism, and Hospitality Research|
|Publication status||Accepted/In press - 1 Jan 2019|
- Market norms and social norms
- P2P accommodation
- Perceived risk
- Perceived value
- Renting and lending