رفتار خرید آنلاین: چشم انداز اقتصاد هزینه معامله

Using a transaction cost economics perspective, this paper presents a model for understanding consumers' on-line buying behavior. An empirical study was conducted in Singapore to test the model. The results indicate that consumers' willingness to buy online is negatively associated with their perceived transaction cost, and perceived transaction cost is associated with uncertainty, dependability of online stores and buying frequency. When consumers perceive more dependability of online stores and less uncertainty in online shopping and have more online experiences, they are more likely to buy online. Implications of the results are discussed.

The Internet has developed into a dynamic virtual medium for selling and buying information, services and products. The phenomenal growth and rising popularity of the Internet and the World Wide Web (WWW) have attracted consumers and businesses to leverage the benefits and advantages brought on by new technology. The International Data Corporation (IDC) estimated that Internet users in Asia, excluding Japan, will increase from 94 million in 2001 to 291 million by 2006 [1]. Nua.com [2] reported that the number of people online in the Asia/Pacific region has reached 187.24 million as of September 2002. The Internet exerts an increasingly strong influence on people's everyday life. The growth of interest in the Internet as a shopping and purchasing medium is fascinating for practitioners and researchers alike. Its rapid growth poses intriguing questions for academic research. Some researchers proposed that the consumer's own characteristics play an important role in his/her propensity to engage in Internet transactions [3] and [4]. Steinfield and Whitten [5] suggested a greater chance for the combination of the Web plus physical presence to capture business than the Web-only presence because they can provide better pre-purchase and post-sales services to lower consumer transaction costs and build trust in Web stores. Others speculated on the critical role of trust in stimulating consumer purchases over the Internet [3], [6] and [7]. Brynjolfsson and Smith [6] pointed out that branding and trust remain important sources of heterogeneity among Internet retailers. As a new channel for marketing, the Web is capable of accommodating various kinds of products and services. However, online retailers revealed that people browse the Internet more for information than for buying online [8] and that they feel it is difficult to enjoy shopping online [9]. Johnson [10] pointed out three barriers to online shopping, i.e. purchase failures, security fears, and service frustrations. Hoffman et al. [7] also highlighted that the reason more people have yet to shop online is due to a fundamental lack of faith existing among most businesses and consumers on the Web. This study examines online buying behavior using transaction cost theory. Specifically, we examine: (1) what factors are associated with transaction cost when considering purchasing something online?; and (2) to what extent does each factor affect transaction cost? Results from this study will help determine the applicability of the transaction cost economics (TCE) model in explaining consumers' online buying behavior. The objectives of this study are: 1. to explain consumer's online buying behavior from the perspective of TCE theory based on three dimensions, i.e., uncertainty, trust and buying frequency; 2. to verify the TCE model by analyzing field data obtained in Singapore; and 3. to examine whether the TCE model is valid for samples collected through two different sources (online ads and emails). In summary, this study extends previous research in the following ways. First, it expands on the list of antecedent variables affecting transaction cost. Second, previous research has traditionally involved Western samples. By collecting data from Singapore, this research examines the applicability of the TCE model in a non-Western context. Third, the TCE model is examined using data from two sources, thereby providing greater confidence in the results.

This study contributes to existing literature in several ways. First, although many research [21] and [55] have used TCE to explain the rise of global electronic markets and the cost-savings afforded by network-based communication, few have conducted empirical studies using TCE to explain the buying behavior of consumers in electronic commerce. Hence, a contribution of our paper is the development and empirical testing of a consumer choice model based on TCE to examine consumer online buying behavior. Second, our study extends Liang and Huang's [22] work by examining various antecedents that affect transaction cost. We also confirm that transaction cost is negatively related to willingness to buy online. Third, previous research has commonly used samples from Western countries. By examining TCE theory in an Asian context, we have demonstrated its applicability in a non-Western context. Fourth, by examining various types of uncertainty, we show that different types of uncertainty may have different impact on transaction cost. In particular, consumers are concerned about behavioral uncertainty of online stores. Fifth, we used both emails and online ads to collect data for this study. In doing so, we are able to examine the effectiveness of various data collection methods and test the research model using samples collected by different methods. As the results for both groups (emails and online ads) were similar, this study reinforces the robustness of the TCE model in explaining consumer buying behavior in electronic commerce. Using the TCE theory is useful as it provides more substantive understanding of the factors associated with the consumers' willingness to buy online. Given the relatively good overall goodness of fit of the model, we believe that this study is a valuable addition to researchers in their efforts to understand consumer buying behavior on the Internet. In conclusion, the results show that consumers' online buying decision is negatively associated with their perceived transaction cost, whereas perceived transaction cost is associated with behavioral uncertainty, performance uncertainty, environmental uncertainty, dependability of online stores, and buying frequency. When consumers perceive more dependability of online stores and less uncertainty in online shopping and have more online experiences, they would prefer to shop online. The results confirm the argument by Wigand [52], who proposed the use of TCE theory to interpret consumers' online decision process. According to his framework, consumers' acceptance of electronic channel is affected by transaction cost, while uncertainty and trust affect transaction cost. This study indicates that behavioral uncertainty of online stores is one of the major factors that affect the transaction cost of online buying. Consumers are also concerned about uncertainty related to products and services provided by online stores. If online stores were to provide some clear exchange or refund policy to minimize the uncertainty perceived by consumers in Internet shopping, consumers would be more likely to buy online. Further, to minimize uncertainty, online stores should make it clear to consumers regarding their terms and conditions on cancellation, payment, delivery and dispute resolution. Managers of online stores should recognize consumers' right to return goods, within a specified time limit, without having to give a reason. Online stores who can provide better after sales services and handle consumers' inquiries and complaints promptly will add credibility to themselves. Building a trusting relationship with consumers is also very important as it would encourage customer loyalty. A trusting relationship between consumers and online stores facilitates online transaction. Consumers would certainly feel more comfortable to buy in online stores that they trust. There could be two ways to build a trusting relationship with consumers. One is not to make false claim about products and services, while the other is to provide satisfactory after sales services. According to survey results, online shoppers only compose 34% of Internet users [56]. More than 50% of Internet users have not experienced online shopping yet. Most of them are dissuaded by distrust in online shopping. To attract those potential customers, online stores could give consumers incentives at their first-time purchase, such as free gift or discount. Consumers usually are more willing to try a new thing when they feel motivated. The first successful online buying experience will increase the likelihood that they will continue to buy online in the future. The following are some recommendations for future research. First, the data fail to support the relationship between branding uncertainty of online stores and transaction cost. One possible reason could be the measurement scales used which can be further refined in future research. Second, trust could be further investigated in future studies. Trust is an important factor in consumers' online buying behavior. Measures that effectively help online stores build trust relationship with their customers need to be investigated. Third, researchers could further investigate the effect of privacy policy on consumers' online buying behavior. Researchers could employ other measures, such as personal information concerns, to look into the effect of privacy policy on consumers' buying behavior. Fourth, we defined search cost in terms of time and effort to find relevant information when purchasing online. In doing so, we used search effort as an indicator of search cost [22]. As suggested by a reviewer, it is possible that when search cost is low, one may tend to search more. Future research can refine the measures for search cost and investigate the situations where search cost may be distinct and different from search effort. Further, it is possible that lower search cost may lead to frequent search such that total search effort increases, although transaction cost associated with each single transaction decreases. This distinction between unit search cost and total search cost may be more important than the distinction between search cost and search effort. Fifth, the different types of transaction cost can be examined in greater detail. For example, how are each of the transactions costs (searching, monitoring and adapting) affected by consumer choices or how do each affect the outcomes of consumer choices? Are each component of transaction costs affected differently or do they have different effects on consumer choices? Finally, the research model could be further refined to include other variables that may affect transaction cost and consumers' willingness to buy online.