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Effects of heuristics on consumer intent of online shoppers in Greece
(2022-07-04) Dimitrakopoulou, Despoina; Δημητρακοπούλου, Δέσποινα; Athens University of Economics and Business, Department of Marketing and Communication; Painesis, Grigorios; Salavou, Helen; Kokkinaki, Flora
Over the last years, eCommerce has exponentially grown, in number of consumers, purchases, and revenue; yet, not all businesses have adapted to this new model of selling. The era of digitalization and the birth of the Big Data industry have resulted in an incredibly large and complex amount of available information, of incredible value in the new marketing landscape. With different products being of different worth to each consumer, as both the circumstances of their internar and external characteristics, such as Consumer, Product, and Medium Characteristics from Cheung et al.'s Framework of Online Consumer, their importance to each person vary. Consequently, the way they react and, subsequently, whether they make a purchasing decision can also change. Some of the leading theories regarding heuristics can potentially explain the effects on eCommerce, such as the Anchoring Effect, the Bandwagon Effect, and the Scarcity Effect. With those in mind, the main research question is the following: can we improve eCommerce through the use of heuristics on selected products and consumers? In order to answer to the research question, we conducted an 2*4*2, between-subjects experiment testing those principles in Greek consumers. In this light, the purpose of this research study is to propose a research model on the measurement of consumer intent in modern eCommerce environments and combine it with the measurement of effectiveness of heuristic cues that are based on cognitive biases and are used in today’s online shopping environment.