Customer Loyalty in the Sharing Economy Platforms: How Digital Personal Reputation and Feedback Systems Facilitate Interaction and Trust between Strangers.

Author:Hollowell, Jane Catherine
 
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  1. Introduction

    The sharing economy makes it possible for individuals to perform the transactions of underused assets over their two-sided platforms, but its distinctive technological innovations inflict damaging alterations to users' social structure and generate impediments in a self-regulating encompassing of the sharing economy into the present regulatory fabric. (Hou, 2018) Sharing economy service suppliers need to grasp the consequences of perceived advantages and risks on individuals' purpose to get involved in such services. (Lee et al., 2018)

  2. Conceptual Framework and Literature Review

    Sharing platforms can establish a socialized private trust channel, besides the standard government-controlled public empowering structure. (Hou, 2018) Identifying driving forces and inhibitors of individuals' intentions to get involved in sharing economy services enables companies to line up their resources in order to improve their services (Fielden et al., 2018; Kliestik et al., 2018a; Lazaroiu and Rommer, 2017; Meila, 2018; Moghtader, 2018; Schinckus, 2018) by maximizing the potential advantages and decreasing the possible risks. The effectiveness of sharing economy services is determined by the soundness of the service platforms that link the suppliers and consumers of on-demand services and facilitate transactions. (Lee et al., 2018) Individuals' trusting beliefs in certain service suppliers enable sharing. Privacy concerns hinder the buildout of such trusting beliefs that function as an intuitive judgment (Hoffman and Friedman, 2018; Kliestik et al., 2018b; Nica, 2018; Nica et al., 2017; Ohanyan and Androniceanu, 2017; Strielkowski et al., 2017) furthering particular online transactions while bypassing general approaches. (Lutz et al., 2018)

  3. Methodology and Empirical Analysis

    Using and replicating data from BBC, Business Insider Intelligence, CIPD, Consultancy.uk, Full Fact, Kalido, One Poll, ONS, RSA, Statista, and YouGov, we performed analyses and made estimates regarding most commonly used platforms by gig economy workers, drivers of freelancing, share of generational groups who think that the gig economy is beneficial for everyone, percentage of employees and self-employed working more than 45 hours per week, and adults in different forms of work in the gig economy.

  4. Results and Discussion

    Perceived platform standards instill consumers' confidence in the platform, contributing to shaping their intention to get involved in the sharing...

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