Building Blocks for a Better Buyer Experience: Consumer Perceptions of Blockchain Authentication Methods in Second-Hand Luxury E-Commerce

Abstract: Title: Building Blocks for a Better Buyer Experience: Consumer Perceptions of Blockchain Authentication Methods in Second-Hand Luxury E-Commerce Date of the Seminar: 2nd of June, 2023 Course: BUSN39: Degree Project in Global Marketing Authors: Lisa Alm, Amanda Gerth & Katie Fajer Supervisor: Burak Tunca Keywords: Second-hand luxury e-commerce, Blockchain technology, Authentication, Perceived Risk, Theory of Planned Behaviour, Consumer Behaviour. Thesis Purpose: To explore consumer perspectives towards the implementation blockchain technology as a service offered within the authentication of second-hand vintage luxury e-commerce Methodology: This quantitative research study utilises an independent sample t-test to compare Perceived Risk, Attitudes, Perceived Behavioural Control, Subjective Norms, and Purchase Intention in regard to authentication method surveyed. Mediation analyses were performed to examine the mediating effects of each variable on the relationship between authentication method and Purchase Intention. Theoretical Perspective: The theoretical foundation of this study is primarily grounded in “Risk theory in consumer behaviour” as proposed by Taylor, (1974) as well as Ajzen’s (1985) Theory of Planned Behaviour. Empirical Data: A web survey was distributed through internet forums, gathering 190 respondents who were randomly assigned to answer questions regarding either Blockchain Authentication (90 respondents) or Traditional Paper Authentication (86 respondents). Findings: The data analysis confirmed that Perceived Risk was lower among participants who received the blockchain authentication survey. Additionally, increased Perceived Behavioural Control was observed among these respondents. Mediating effects on the relationship between Authentication Method and Purchase Intention were also deemed to be present through these variables. Implications: This thesis fills a research gap by examining consumer perceptions in relations to Blockchain Authentication within luxury resale e-commerce, creating a foundation for future consumer-based research in the field. The study confirms that by implementing Blockchain Authentication luxury resale e-platforms may lower perceived risk among consumers as well as increase perceived behavioural control, and thereby increase Purchase Intention.