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The impact of blockchain technology on consumer behavior: a multimethod study

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  • Honglu Wang
  • Min Zhang
  • Hao Ying
  • Xiande Zhao

Abstract

Blockchain is a ground-breaking technology that is transforming supply chain management. This study aims to empirically investigate the impacts of blockchain technology on consumer behavior. We conduct this research in collaboration with a Chinese e-commerce company that has introduced a blockchain platform for tracing. We use a multimethod design by combining natural experiment- and case study methods. First, we collected data from four industries (i.e. milk powder, seafood, alcohol and nutrition) to conduct the experiment, and the findings reveal that the firms that adopted the blockchain tracing system have an increase in product sales and a decrease in product returns compared to those that did not. Second, we conducted a multiple case study with four cases from the four industries. The findings reveal that the adoption of a blockchain tracing system improves supply chain transparency and process management, which then enhances consumer service and trust. This study contributes to the literature by providing empirical evidence that adopting blockchain technology can improve firms’ marketing performance. The findings also reveal how the adoption of blockchain technology affects consumer behavior.

Suggested Citation

  • Honglu Wang & Min Zhang & Hao Ying & Xiande Zhao, 2021. "The impact of blockchain technology on consumer behavior: a multimethod study," Journal of Management Analytics, Taylor & Francis Journals, vol. 8(3), pages 371-390, July.
    • Handle: RePEc:taf:tjmaxx:v:8:y:2021:i:3:p:371-390
    DOI: 10.1080/23270012.2021.1958264
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    Cited by:

    1. Mohannad Alobid & Said Abujudeh & István Szűcs, 2022. "The Role of Blockchain in Revolutionizing the Agricultural Sector," Sustainability, MDPI, vol. 14(7), pages 1-15, April.
    2. Muhammad Hamza Naseem & Jiaqi Yang & Tongxia Zhang & Waseem Alam, 2023. "Utilizing Fuzzy AHP in the Evaluation of Barriers to Blockchain Implementation in Reverse Logistics," Sustainability, MDPI, vol. 15(10), pages 1-17, May.
    3. Soyoung An & Thomas Eck & Huirang Yim, 2023. "Understanding Consumers’ Acceptance Intention to Use Mobile Food Delivery Applications through an Extended Technology Acceptance Model," Sustainability, MDPI, vol. 15(1), pages 1-14, January.
    4. Mohammad Wasiq & Abu Bashar & Syed Akmal & Mustafa Raza Rabbani & Mohd Afzal Saifi & Nishad Nawaz & Youssef Tarek Nasef, 2023. "Adoption and Applications of Blockchain Technology in Marketing: A Retrospective Overview and Bibliometric Analysis," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
    5. Mirza, Nawazish & Umar, Muhammad & Afzal, Ayesha & Firdousi, Saba Fazal, 2023. "The role of fintech in promoting green finance, and profitability: Evidence from the banking sector in the euro zone," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 33-40.

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