IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v12y2020i19p8181-d423609.html
   My bibliography  Save this article

The Critical Factors Affecting the Consumer Reselling of Limited Edition Products: A Case in the Korean Fashion Sector

Author

Listed:
  • Woodong Kim

    (Seoul Business School, Seoul School of Integrated Sciences and Technologies (aSSIST), Seoul 03767, Korea)

  • Boyoung Kim

    (Seoul Business School, Seoul School of Integrated Sciences and Technologies (aSSIST), Seoul 03767, Korea)

Abstract

Since e-commerce has revitalized recently in the form of live commerce and Instagram shopping, both purchase and sales have become promoted among consumers while reselling has been facilitated in second-hand item markets and among consumers. Particularly, the new trend of consuming products, rather than merely owning products, has become a mainstream factor in the market. Accordingly, consumers show extraordinary consumption, focusing on the act of purchasing limited edition products of high scarcity and placing more importance on one-off experience rather than ordinary new products or premium products. This study suggests critical factors that facilitate the reselling of limited edition products among consumers for the purpose of examining the consumer reselling of limited edition products, which has been a rapidly growing trend in the fashion market. Based on relevant studies, this research presents four basic factor areas: personal needs, value, experience, and environment. It also defines 20 sub-factors and analyzes the weight of each factor by means of the AHP method. In conclusion, it turned out that factors of personal needs were of the most significant influence. Particularly, it was verified that the need for joining was the most critical factor facilitating consumers’ reselling of limited edition products.

Suggested Citation

  • Woodong Kim & Boyoung Kim, 2020. "The Critical Factors Affecting the Consumer Reselling of Limited Edition Products: A Case in the Korean Fashion Sector," Sustainability, MDPI, vol. 12(19), pages 1-16, October.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:19:p:8181-:d:423609
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/12/19/8181/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/12/19/8181/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Anwar, Sajid & McMillan, Robert & Zheng, Mingli, 2006. "Bidding behavior in competing auctions: Evidence from eBay," European Economic Review, Elsevier, vol. 50(2), pages 307-322, February.
    2. Gierl, Heribert & Huettl, Verena, 2010. "Are scarce products always more attractive? The interaction of different types of scarcity signals with products' suitability for conspicuous consumption," International Journal of Research in Marketing, Elsevier, vol. 27(3), pages 225-235.
    3. Vibhanshu Abhishek & Kinshuk Jerath & Z. John Zhang, 2016. "Agency Selling or Reselling? Channel Structures in Electronic Retailing," Management Science, INFORMS, vol. 62(8), pages 2259-2280, August.
    4. Guiot, Denis & Roux, Dominique, 2010. "A Second-hand Shoppers’ Motivation Scale: Antecedents, Consequences, and Implications for Retailers," Journal of Retailing, Elsevier, vol. 86(4), pages 355-371.
    5. Insook Ahn & Soo Hyun Kim & Munyoung Kim, 2020. "The Relative Importance of Values, Social Norms, and Enjoyment-Based Motivation in Explaining Pro-Environmental Product Purchasing Behavior in Apparel Domain," Sustainability, MDPI, vol. 12(17), pages 1-16, August.
    6. Xi Chen & Shaofen Fang & Yujie Li & Haibin Wang, 2019. "Does Identification Influence Continuous E-Commerce Consumption? The Mediating Role of Intrinsic Motivations," Sustainability, MDPI, vol. 11(7), pages 1-20, April.
    7. Simonson, Itamar & Nowlis, Stephen M, 2000. "The Role of Explanations and Need for Uniqueness in Consumer Decision Making: Unconventional Choices Based on Reasons," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 27(1), pages 49-68, June.
    8. Carrington, Michal J. & Neville, Benjamin A. & Whitwell, Gregory J., 2014. "Lost in translation: Exploring the ethical consumer intention–behavior gap," Journal of Business Research, Elsevier, vol. 67(1), pages 2759-2767.
    9. Vanitha Swaminathan & Karen L. Page & Zeynep Grhan-Canli, 2007. ""My" Brand or "Our" Brand: The Effects of Brand Relationship Dimensions and Self-Construal on Brand Evaluations," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 34(2), pages 248-259, May.
    10. Reynolds, Kristy E. & Gilkeson, James H. & Niedrich, Ronald W., 2009. "The influence of seller strategy on the winning price in online auctions: A moderated mediation model," Journal of Business Research, Elsevier, vol. 62(1), pages 22-30, January.
    11. Tian, Kelly Tepper & Bearden, William O & Hunter, Gary L, 2001. "Consumer's Need for Uniqueness: Scale Development and Validation," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(1), pages 50-66, June.
    12. Wilfred Amaldoss & Sanjay Jain, 2005. "Conspicuous Consumption and Sophisticated Thinking," Management Science, INFORMS, vol. 51(10), pages 1449-1466, October.
    13. Leary, R. Bret & Vann, Richard J. & Mittelstaedt, John D. & Murphy, Patrick E. & Sherry,, John F., 2014. "Changing the marketplace one behavior at a time: Perceived marketplace influence and sustainable consumption," Journal of Business Research, Elsevier, vol. 67(9), pages 1953-1958.
    14. Subramanian Balachander & Axel Stock, 2009. "Limited Edition Products: When and When Not to Offer Them," Marketing Science, INFORMS, vol. 28(2), pages 336-355, 03-04.
    15. Sinha, Somesh Kumar & Verma, Priyanka, 2020. "Impact of sales Promotion's benefits on perceived value: Does product category moderate the results?," Journal of Retailing and Consumer Services, Elsevier, vol. 52(C).
    16. Hsuan-Hsuan Ku & Chien-Chih Kuo & Wei-Luen Fang & Ya-Wen Yu, 2014. "The impact of retail out-of-stock options on preferences: The role of consumers’ desire for assimilation versus differentiation," Marketing Letters, Springer, vol. 25(1), pages 53-66, March.
    17. repec:dau:papers:123456789/7634 is not listed on IDEAS
    18. Rui (Juliet) Zhu & Jennifer J. Argo, 2013. "Exploring the Impact of Various Shaped Seating Arrangements on Persuasion," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 40(2), pages 336-349.
    19. Simonson, Itamar & Nowlis, Stephen M., 2000. "The Role of Explanations and Need for Uniqueness in Consumer Decision Making: Unconventional Choices Based on Reasons," Research Papers 1610, Stanford University, Graduate School of Business.
    20. Zhang, Shichen & Zhang, Jianxiong, 2020. "Agency selling or reselling: E-tailer information sharing with supplier offline entry," European Journal of Operational Research, Elsevier, vol. 280(1), pages 134-151.
    21. Becker-Olsen, Karen L. & Cudmore, B. Andrew & Hill, Ronald Paul, 2006. "The impact of perceived corporate social responsibility on consumer behavior," Journal of Business Research, Elsevier, vol. 59(1), pages 46-53, January.
    22. Sanjeev Swami & Pankaj Khairnar, 2006. "Optimal normative policies for marketing of products with limited availability," Annals of Operations Research, Springer, vol. 143(1), pages 107-121, March.
    23. Sabrina Helm & Brintha Subramaniam, 2019. "Exploring Socio-Cognitive Mindfulness in the Context of Sustainable Consumption," Sustainability, MDPI, vol. 11(13), pages 1-17, July.
    24. Suri, Rajneesh & Monroe, Kent B, 2003. "The Effects of Time Constraints on Consumers' Judgments of Prices and Products," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 30(1), pages 92-104, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dörnyei, Krisztina Rita & Lunardo, Renaud, 2021. "When limited edition packages backfire: The role of emotional value, typicality and need for uniqueness," Journal of Business Research, Elsevier, vol. 137(C), pages 233-243.
    2. Gierl, Heribert & Huettl, Verena, 2010. "Are scarce products always more attractive? The interaction of different types of scarcity signals with products' suitability for conspicuous consumption," International Journal of Research in Marketing, Elsevier, vol. 27(3), pages 225-235.
    3. Xingyu Chen & Xing Li & Dai Yao & Zhimin Zhou, 2019. "Seeking the support of the silent majority: are lurking users valuable to UGC platforms?," Journal of the Academy of Marketing Science, Springer, vol. 47(6), pages 986-1004, November.
    4. Kim, Jungkeun & Spence, Mark T. & Marshall, Roger, 2018. "The Color of Choice: The Influence of Presenting Product Information in Color on the Compromise Effect," Journal of Retailing, Elsevier, vol. 94(2), pages 167-185.
    5. Sajeesh, S. & Hada, Mahima & Raju, Jagmohan S., 2020. "The effect of consumer heterogeneity on firm profits in conspicuous goods markets," International Journal of Research in Marketing, Elsevier, vol. 37(2), pages 258-280.
    6. Hsuan-Hsuan Ku & Chien-Chih Kuo & Wei-Luen Fang & Ya-Wen Yu, 2014. "The impact of retail out-of-stock options on preferences: The role of consumers’ desire for assimilation versus differentiation," Marketing Letters, Springer, vol. 25(1), pages 53-66, March.
    7. Hou, Jianwei & Elliott, Kevin, 2014. "How do online bidders differ from non-bidders?," Journal of Retailing and Consumer Services, Elsevier, vol. 21(1), pages 18-25.
    8. Ostovan, Nima & Khalili Nasr, Arash, 2022. "The manifestation of luxury value dimensions in brand engagement in self-concept," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).
    9. Haris Krijestorac & Rajiv Garg & Prabhudev Konana, 2021. "Decisions Under the Illusion of Objectivity: Digital Embeddedness and B2B Purchasing," Production and Operations Management, Production and Operations Management Society, vol. 30(7), pages 2232-2251, July.
    10. Chae, Heeju & Kim, Seunggwan & Lee, Jungguk & Park, Kyounghye, 2020. "Impact of product characteristics of limited edition shoes on perceived value, brand trust, and purchase intention; focused on the scarcity message frequency," Journal of Business Research, Elsevier, vol. 120(C), pages 398-406.
    11. Sahi, Gurjeet Kaur & Devi, Rita & Gupta, Mahesh C. & Cheng, T.C.E., 2022. "Assessing co-creation based competitive advantage through consumers’ need for differentiation," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).
    12. Christian Hildebrand & Gerald Häubl & Andreas Herrmann & Jan R. Landwehr, 2013. "When Social Media Can Be Bad for You: Community Feedback Stifles Consumer Creativity and Reduces Satisfaction with Self-Designed Products," Information Systems Research, INFORMS, vol. 24(1), pages 14-29, March.
    13. Wu, Yuanyuan & Liu, Tianjiao & Teng, Lefa & Zhang, Hui & Xie, Chenxin, 2021. "The impact of online review variance of new products on consumer adoption intentions," Journal of Business Research, Elsevier, vol. 136(C), pages 209-218.
    14. Kenan Arifoğlu & Sarang Deo & Seyed M. R. Iravani, 2020. "Markdowns in Seasonal Conspicuous Goods," Marketing Science, INFORMS, vol. 39(5), pages 1016-1029, September.
    15. Liu, Longzhu & Chen, Rong & He, Feng, 2015. "How to promote purchase of carbon offset products: Labeling vs. calculation?," Journal of Business Research, Elsevier, vol. 68(5), pages 942-948.
    16. Jake Hoskins & Shyam Gopinath & J. Cameron Verhaal & Elham Yazdani, 2021. "The influence of the online community, professional critics, and location similarity on review ratings for niche and mainstream brands," Journal of the Academy of Marketing Science, Springer, vol. 49(6), pages 1065-1087, November.
    17. Christian Hildebrand & Tobias Schlager, 2019. "Focusing on others before you shop: exposure to Facebook promotes conventional product configurations," Journal of the Academy of Marketing Science, Springer, vol. 47(2), pages 291-307, March.
    18. Vandecasteele, Bert & Geuens, Maggie, 2010. "Motivated Consumer Innovativeness: Concept, measurement, and validation," International Journal of Research in Marketing, Elsevier, vol. 27(4), pages 308-318.
    19. Kassemeier, Roland & Haumann, Till & Güntürkün, Pascal, 2022. "Whether, when, and why functional company characteristics engender customer satisfaction and customer-company identification: The role of self-definitional needs," International Journal of Research in Marketing, Elsevier, vol. 39(3), pages 699-723.
    20. Se-Joon Hong & Kar Yan Tam, 2006. "Understanding the Adoption of Multipurpose Information Appliances: The Case of Mobile Data Services," Information Systems Research, INFORMS, vol. 17(2), pages 162-179, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:12:y:2020:i:19:p:8181-:d:423609. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.