The antecedents of perceived value in the Airbnb context

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.

Why Do People Consume and Provide Sharing Economy Accommodation?—A Sustainability Perspective

“…This result implies that Airbnb users in Korea are using Airbnb because they have a fun and different experience from it. These results support previous studies showing that the hedonic factor affects cognitive value using Airbnb [9,18,33].…”

“…Several previous studies have been conducted on the motivation to use Airbnb from the user's perspective. Stollery and Jun found that monetary saving, hedonic benefit and novelty has positive effects on the perceived value of Airbnb for Korean Airbnb guests [18]. However, it has been mentioned as a singular point that social interaction that emphasizes the special advantage of using Airbnb does not affect perceived value for Korean guests.…”

“…Bellotti notes that users who use sharing economy services are attracted to experiences such as interesting and engaging [34]. Stollery and Jun state that Airbnb hosts should be taken to provide a peasant and unusual experience [18].…”

Non-monetary price perceived in e-peer-to peer accommodation. Airbnb guests’ perspective

“…Additionally, and according to Guttentag (2019), Airbnb offers an alternative value proposition to guests centered around the potential for a more authentic local experience (hedonism). In this line, in a study with Airbnb users in South Korea, Stollery and Jun (2017) concluded that there is a positive influence of hedonic benefit on perceived value; and it could be translated to the behavioral price. These authors found that South Korean Airbnb guests find value in employing Airbnb because it permits them to have distinct and unique experiences, have fun and excitement and save money (Stollery and Jun 2017).…”

Systematic framework to assess social impacts of sharing platforms: Synthesising literature and stakeholder perspectives to arrive at a framework and practice-oriented tool

“…Several studies also highlight the missing or negative impact of sharing on social cohesion. Users of Airbnb and Uber often have little to no interest in social interaction [ 105 , 114 , 159 , 165 ]. Accommodation sharing can also reduce the sense of community within cities [ 53 , 56 ].…”