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In the past few decades, consumers across the globe have become heavily reliant on e‐commerce to purchase almost everything, from essential goods to hedonic goods. The prevalence of online shopping has significantly improved the consumption process and, by meeting consumers' needs, likely affects their long‐term subjective well‐being (SWB). Using individual‐level data from the 2018 China Family Panel Studies, this study shows that online shopping enhances the long‐term SWB of consumers by increasing their proportion of hedonic consumption. Consumer income can moderate the effect of online shopping on the long‐term SWB of consumers, such that high consumer income can weaken this effect. In addition, the effect of online shopping on long‐term SWB is stronger for rural consumers than for urban consumers. The authors close with a discussion of the implications of this study's findings for academics and policy makers.

When an incumbent firm introduces a new business model (BM), the redeployment of resources from the old BM is crucial for the firm's operational efficiency. While previous studies have largely focused on the bright side of resource redeployment (RR) on firm performance, this study focuses on its dark side effect, namely, the business model conflict (BMC). Using data of 133 traditional Chinese retail companies that have introduced an online retail BM, we find that RR increases the BMC and decreases the firm performance. In other words, BMC mediates the relationship between RR and incumbent performance. We also highlight the significant contingent effect of the new business model age (NBMA) and the autonomous business unit (ABU) for the new BM. These findings have concrete implications for both researchers and practitioners.