“…First, some researchers classify information disclosure based on market demand and product quality (He et al, 2018; Zhang et al, 2019). Retailers can share market demand information with manufacturers or suppliers (Chen et al, 2022; Mishra et al, 2009; Shang et al, 2015; Zhang & Zhang, 2020). The manufacturers have advantages in acquiring product quality information and share the information with retailers and consumers (Feng et al, 2019; Ghosh & Galbreth, 2013; Hong et al, 2021; Huang & Yang, 2016; Scheele et al, 2017; Wang et al, 2022; Xu et al, 2021).…”