Motivations and barriers to embracing augmented reality: An exploratory study with Vietnamese retailers
- Author(s)
-
DOIhttp://dx.doi.org/10.21511/im.18(3).2022.03
-
Article InfoVolume 18 2022, Issue #3, pp. 28-37
- Cited by
- 1465 Views
-
667 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The most crucial key to successfully approaching customers is enhancing the interaction experience between customers and retailers. This study explores the motivations for adopting augmented reality (AR) in retailing small and medium-sized retailers in Vietnam. A structured questionnaire was delivered to a total sample of 302 Vietnamese retailers and got 215 clean and valid responses. The survey was conducted both online and offline for ten months, from February 2021 to December 2021. The chosen surveyors are retailing managers and owners of retailing firms. These firms sell fashion products, technology gadgets, and household products. The data were statistically analyzed using Smart PLS software and the partial least equation structural model. The findings indicate three direct, positive, and significant factors that influence the retailer’s AR adoption, including (1) organizational attitude toward AR, (2) organizational innovativeness, and (3) competition pressure in which organizational attitude toward AR and organization innovativeness are two critical motivational drivers. The competition pressure has been identified as the challenge barrier. The cost barriers affect organizational attitude toward AR but do not significantly influence AR adoption. Along with theoretical contributions, this paper also gave some theoretical and practical implications for retailers who have the intention to adopt AR and integrate AR into their current retailing system.
- Keywords
-
JEL Classification (Paper profile tab)M15, M31, O33
-
References37
-
Tables4
-
Figures2
-
- Figure 1. Proposed research model
- Figure 2. Structural model
-
- Table 1. Outer loadings, Cronbach’s alpha, composite reliability, and AVE
- Table 2. HTMT
- Table 3. R2, Q2, and SMRM
- Table 4. Hypotheses testing result
-
- Akter, S., D’ambra, J., & Ray, P. (2011). An evaluation of PLS based complex models: the roles of power analysis, predictive relevance and GoF index. MCIS 2011 Proceedings.
- Alam, S., Susmit, S., Lin, C., Masukujjaman, M., & Ho, Y. (2021). Factors affecting augmented reality adoption in the retail industry. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 142.
- Bonetti, F., Warnaby, G., & Quinn, L. (2018). Augmented reality and virtual reality in physical and online retailing: A review, synthesis and research agenda. In T. Jung, M. Claudia, & T. Dieck (Eds.), Augmented reality and virtual reality (pp. 119-132). Springer.
- Brengman, M., Willems, K., & Van Kerrebroeck, H. (2019). Can’t touch this: the impact of augmented reality versus touch and non-touch interfaces on perceived ownership. Virtual Reality, 23(3), 269-280.
- Cabero-Almenara, J., Fernández-Batanero, J., & Barroso-Osuna, J. (2019). Adoption of augmented reality technology by university students. Heliyon, 5(5), e01597.
- Carmigniani, J., & Furht, B. (2011). Augmented reality: an overview. Handbook of augmented reality, 3-46.
- Caboni, F., & Hagberg, J. (2019). Augmented reality in retailing: a review of features, applications and value. International Journal of Retail & Distribution Management, 47(11), 1125-1140.
- Carmigniani, J., & Furht, B. (2011). Augmented reality: an overview. In B. Furht (Ed.), Handbook of augmented reality (pp. 3-46). Springer.
- Chylinski, M., Heller, J., Hilken, T., Keeling, D., Mahr, D., & de Ruyter, K. (2020). Augmented reality marketing: A technology-enabled approach to situated customer experience. Australasian Marketing Journal, 28(4), 374-384.
- Cohen, J. (2013). Statistical power analysis for the behavioral sciences (567 p.). London: Routledge.
- Dacko, S. (2017). Enabling smart retail settings via mobile augmented reality shopping apps. Technological forecasting and social change, 124, 243-256.
- Do, H., Shih, W., & Ha, Q. (2020). Effects of mobile augmented reality apps on impulse buying behavior: An investigation in the tourism field. Heliyon, 6(8), e04667.
- Fan, X., Chai, Z., Deng, N., & Dong, X. (2020). Adoption of augmented reality in online retailing and consumers’ product attitude: A cognitive perspective. Journal of Retailing and Consumer Services, 53, 101986.
- Flavián, C., Ibáñez-Sánchez, S., & Orús, C. (2019). The impact of virtual, augmented and mixed reality technologies on the customer experience. Journal of business research, 100, 547-560.
- Gronemus, J., Hair, P., Crawford, K., Nyalwidhe, J., Cunnion, K., & Krishna, N. (2010). Potent inhibition of the classical pathway of complement by a novel C1q-binding peptide derived from the human astrovirus coat protein. Molecular immunology, 48(1-3), 305-313.
- Hair Jr, J., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106-121.
- Hair, J., Sarstedt, M., Matthews, L., & Ringle, C. (2016). Identifying and treating unobserved heterogeneity with FIMIX-PLS: part I–method. European Business Review, 28(1), 63-76.
- Hair, J., Sarstedt, M., Ringle, C., & Gudergan, S. (2017). Advanced issues in partial least squares structural equation modeling (272 p.). Thousand Oaks: SAGE publications.
- Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European business review, 31(1), 2-24.
- Heller, J., Chylinski, M., de Ruyter, K., Mahr, D., & Keeling, D. (2019). Touching the untouchable: exploring multi-sensory augmented reality in the context of online retailing. Journal of Retailing, 95(4), 219-234.
- Henseler, J., Ringle, C., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the academy of marketing science, 43(1), 115-135.
- Hilken, T., de Ruyter, K., Chylinski, M., Mahr, D., & Keeling, D. (2017). Augmenting the eye of the beholder: exploring the strategic potential of augmented reality to enhance online service experiences. Journal of the Academy of Marketing Science, 45(6), 884-905.
- Hinsch, C., Felix, R., & Rauschnabel, P. (2020). Nostalgia beats the wow-effect: Inspiration, awe and meaningful associations in augmented reality marketing. Journal of Retailing and Consumer Services, 53, 101987.
- Kleinbaum, D., Kupper, L., Nizam, A., & Rosenberg, E. (2013). Applied regression analysis and other multivariable methods (1072 p.). Boston: Cengage Learning.
- Kumar, K., Chandra, S., Bharati, S., & Manava, S. (2016). Factors influencing adoption of augmented reality technology for e-commerce. PACIS 2016 Proceedings.
- Kumar, S. (2021). Study of retail applications with virtual and augmented reality technologies. Journal of Innovative Image Processing, 3(2), 144-156.
- Nguyen, H., & Tran, M. (2022). Stimuli to adopt e-government services during Covid-19: Evidence from Vietnam. Innovative Marketing, 18(1), 12-22.
- Nikhashemi, S., Knight, H., Nusair, K., & Liat, C. (2021). Augmented reality in smart retailing: A (n) (A)Symmetric Approach to continuous intention to use retail brands’ mobile AR apps. Journal of Retailing and Consumer Services, 60, 102464.
- Olsson, T., Lagerstam, E., Kärkkäinen, T., & Väänänen-Vainio-Mattila, K. (2013). Expected user experience of mobile augmented reality services: a user study in the context of shopping centres. Personal and ubiquitous computing, 17(2), 287-304.
- Pantano, E. (Ed.). (2015). Successful technological integration for competitive advantage in retail settings (405 p.). Pennsylvania: IGI Global.
- Pantano, E., & Vannucci, V. (2019). Who is innovating? An exploratory research of digital technologies diffusion in retail industry. Journal of Retailing and Consumer Services, 49, 297-304.
- Pantano, E., Rese, A., & Baier, D. (2017). Enhancing the online decision-making process by using augmented reality: A two country comparison of youth markets. Journal of Retailing and Consumer Services, 38, 81-95.
- Plotkina, D., & Saurel, H. (2019). Me or just like me? The role of virtual try-on and physical appearance in apparel M-retailing. Journal of Retailing and Consumer Services, 51, 362-377.
- Porter, M., & Heppelmann, J. (2017). Why every organization needs an augmented reality strategy. Harvard Business Review.
- Rauschnabel, P., Felix, R., & Hinsch, C. (2019). Augmented reality marketing: How mobile AR-apps can improve brands through inspiration. Journal of Retailing and Consumer Services, 49, 43-53.
- Van Esch, P., Arli, D., Gheshlaghi, M., Andonopoulos, V., von der Heidt, T., & Northey, G. (2019). Anthropomorphism and augmented reality in the retail environment. Journal of Retailing and Consumer Services, 49, 35-42.
- Yang, S., Carlson, J., & Chen, S. (2020). How augmented reality affects advertising effectiveness: The mediating effects of curiosity and attention toward the ad. Journal of Retailing and Consumer Services, 54, 102020.
-
Adoption of Mobile Banking and Perceived Risk in GCC
Kavita Chavali
,
Ajith Kumar
doi: http://dx.doi.org/10.21511/bbs.13(1).2018.07
Banks and Bank Systems Volume 13, 2018 Issue #1 pp. 72-79 Views: 3038 Downloads: 859 TO CITE АНОТАЦІЯThe study deals with the adoption of mobile banking services by respondents in UAE and the perception of risk factors by them. A model was developed on the Customer Adoption Process of mobile banking. The model is validated based on the data collected using the questionnaire from a sample of 90 respondents in UAE. Factor analysis is used to evaluate and analyze the responses. Belief in technology and the value it creates are the major driving force for respondents to adopt mobile banking. Respondents perceive that mobile banking helps in proper financial planning due to continuous monitoring the transactions and time saving. Lack of privacy in the mobile banking transactions and not all banks offering mobile banking services in UAE are the major challenges perceived by the respondents for non-adoption of mobile banking. Respondents identify time risk, financial risk and performance risk as the most predominant risk factors compared to other risks in the adoption process.
-
Exploring the role of digital financial literacy in the adoption of Peer-to-Peer lending platforms
Sahiba Khan ,
Ranjit Singh ,
H. R. Laskar ,
Mousumi Choudhury
doi: http://dx.doi.org/10.21511/imfi.22(1).2025.28
Investment Management and Financial Innovations Volume 22, 2025 Issue #1 pp. 369-383 Views: 2499 Downloads: 728 TO CITE АНОТАЦІЯAs financial technologies rapidly expand in developing countries like India, digital financial literacy plays a critical role in shaping how individuals interact with innovative financial services. This study evaluates the influence of financial literacy, digital literacy, and digital financial literacy on the adoption of Peer-to-Peer lending platforms. It also explores the distinct roles and interrelationships among these forms of literacy within the Peer-to-Peer lending ecosystem. Data were collected from 430 participants, exceeding the minimum sample size requirement calculated through G*Power. Participants, comprising borrowers and lenders, actively interacted on Peer-to-Peer lending platforms in cities like Delhi, Mumbai, Hyderabad, Bangalore, and Chennai, ensuring a holistic understanding of the ecosystem. Borrowers are individuals seeking financial assistance, while lenders provide funds, often in exchange for interest-based returns. Using Partial Least Squares Structural Equation Modeling (PLS-SEM), the study reveals that while financial literacy and digital literacy significantly contribute to digital financial literacy, they do not directly impact the behavioral intention to adopt Peer-to-Peer lending platforms. Instead, digital financial literacy directly influences adoption intention, highlighting the importance of integrated literacy over isolated skills. The findings underscore the high proficiency levels of existing users in financial, digital, and digital financial literacy, reflecting the platforms’ appeal to skilled individuals. Expanding access to less proficient populations remains crucial. Moreover, platform managers can capitalize on user expertise by introducing advanced features tailored to sophisticated needs, thereby enhancing satisfaction and the overall user experience. These insights emphasize digital financial literacy’s pivotal role in fostering broader Peer-to-Peer lending adoption.
Acknowledgments
The first author thanks the Ministry of Education, Government of India, for providing financial assistance (fellowship) during her Ph.D. -
Assessing the dynamics of fintech in Indonesia
Nofie Iman
doi: http://dx.doi.org/10.21511/imfi.15(4).2018.24
Investment Management and Financial Innovations Volume 15, 2018 Issue #4 pp. 296-303 Views: 2482 Downloads: 721 TO CITE АНОТАЦІЯFinancial technology or commonly known as fintech is relatively a new thing in Indonesia. This article is attempting to capture the dynamics of such technology in Indonesia. This paper was aimed to help researchers and academics who are interested in studying the phenomenon of fintech more broadly. This study is descriptive and exploratory by nature. Data were gathered from secondary sources, as well as interviews with practitioners, policy makers, and users. Data were collected during the period from 2016 to 2018, which was divided into several different stages. The results of the study show that fintech is more than just a phenomenon, it cannot be compared to other start-ups, and has the potential to fundamentally change the business and economic landscape.
