Impacts of WeChat on Millennials’ Perceptions and Consumption Behaviors in the Hotel Industry

Social media, known as interactive Web 2.0 Internet-based applications, has deeply changed and reformed interpersonal communication and business operation with the wide spread of Internet and the development of technology. In the past few years, since mobile apps are becoming more and more popular, the access of social media is not limited to tablet computers only, but is also available for almost all kinds of smart phone devices, such as iPhone, Android, Symbian and so on. The function of social media is not confined to real- time message transmission or information sharing any more. It has expanded to a widely range of features, such as online purchase and payment, e-commerce business, and service for different types of social events. Social media plays an increasingly important role in daily personal life as well as in business activities. People are not merely considered as social media users, but also the component of social media itself. As a result, it is very crucial for people to realize the importance and impacts of social media, especially for those business operators. WeChat (Weixin in Chinses, literally “micro message”) is a cross-platform instant text and voice messaging communication service for multiple mobile devices, developed by Tecent in China, first released in the January of 2011. It is claimed to provide “the new way to connect” and create “a way of life”. It is free to download, install and register, and support all kinds of smart phone platforms with multiple language versions, such as Chinese, English, Japanese, French, and Spanish. WeChat provides its users different ways to communicate and interact with friends innovatively through instant text messaging, hold-to-talk voice messaging, group messaging, lively video sharing, location sharing, money transferring, and contact information sharing. Among all the WeChat users, Millennials is the majority. With the growing-up of Millennials, they are becoming more and more powerful and important to the society and will be the next target segmentation for most of the industries in the very near future. Especially for the hotel industry, the industry that urges to attract Millennials patrons for further substantial development, how to attract Millennials is becoming a critical issue for those hotel operators

E-tailers versus Retailers: Which Factors Determine Consumer Preferences

The growth of Internet technology and electronic commerce has not been matched by theoretically-guided social science research. Clear and well designed consumer research is needed to describe, explain, and predict what will happen to this changing landscape. The primary purpose of this study is to investigate the structure for consumer preferences to make product purchases through three available retail formats - store, catalog, and the Internet. Conjoint analysis was used to assess the structure of the decision and the importance of the attributes in the decision-making process. The results from this study noticeably show that the structure of the consumer decision-making process was found to be primarily one of choosing the retail format (store, catalog, or Internet) and price of product (set at low, medium or high) desired. The strength of the retail store format suggests that fears that the Internet will take over the retail arena seem, at least at this point in time, overblown and exaggerated. However, there seems to be an identifiable segment of customers that has a preference for the Internet as a retail shopping alternative.Economics ;

Examining the Link Between Diversity and Firm Performance: The Effects of Diversity Reputation and Leader Racial Diversity

Given the scarcity of empirical research on the impact of diversity on organizational performance, we used longitudinal data for 100 firms to test hypotheses related to the effects of diversity reputation and leader racial diversity on firm financial outcomes. The results showed a positive relationship between diversity reputation and book-to-market equity, and a curvilinear U-shaped relationship between leader diversity and revenues, net income and book-to-market equity. Our analyses suggest that economic benefits generated from diversity reputation may primarily derive from capital rather than product markets. Further, firm performance declines with increases in the representation of racial minorities in leadership up to a point, beyond which further increases in diversity are associated with increases in performance

Exploring the Preference Structure for Online and Traditional Retail Formats

retail, structure, formats

The Role of Trust in Explaining Food Choice: Combining Choice Experiment and Attribute Best−Worst Scaling

This paper presents empirical findings from a combination of two elicitation techniques—discrete choice experiment (DCE) and best–worst scaling (BWS)—to provide information about the role of consumers’ trust in food choice decisions in the case of credence attributes. The analysis was based on a sample of 459 Taiwanese consumers and focuses on red sweet peppers. DCE data were examined using latent class analysis to investigate the importance and the utility different consumer segments attach to the production method, country of origin, and chemical residue testing. The relevance of attitudinal and trust-based items was identified by BWS using a hierarchical Bayesian mixed logit model and was aggregated to five latent components by means of principal component analysis. Applying a multinomial logit model, participants’ latent class membership (obtained from DCE data) was regressed on the identified attitudinal and trust components, as well as demographic information. Results of the DCE latent class analysis for the product attributes show that four segments may be distinguished. Linking the DCE with the attitudinal dimensions reveals that consumers’ attitude and trust significantly explain class membership and therefore, consumers’ preferences for different credence attributes. Based on our results, we derive recommendations for industry and policy

How does consumer behaviour change? Examples from energy conservation

A global consumer society is rapidly overshooting ecological limits, there is a dire need to find new ways to change consumer behaviour. Yet history knows few succesful examples of reducing consumption. However, since the 1970s, there is a long legacy of work on energy conservation, which we use to identify three key factors that influence consumer behaviour: consumer awareness, contextual factors and community. Drawing on evidence from a European research project called CHANGING BEHAVIOUR, we discuss where previous efforts to change energy behaviour have succeeded in making a difference. We highlight ways in which sociotechnical systems shaping consumption can be changed and emerging ways in which consumers can join forces to achieve greater power and reach. This analysis has implications for attempts to build a more sustainable consumer society, including, but not limited to, the need to reduce primary energy consumption and greenhouse gas emissions

Attitudes Towards and Satisfaction with Cooperatives in Alberta: A Survey Analysis

The purpose of the study is to assess the attitude towards, and satisfaction of residents of Alberta to their cooperatives. A mailed questionnaire to 1500 Alberta residents, with a 16% response rate is analyzed using Likert scales and the theory of planned behavior. The majority of the respondents are males, aged 45 or older, and earn incomes of $49,000 or less. They are reasonably educated with a high school, college or university degrees. Results of the analysis also show a population that has a general positive attitude towards and is satisfied with their cooperatives as is reflected in assessing the performance of their cooperatives as good. Further analysis using the theory of planned behaviour show that respondents' attitude towards their cooperatives is the single most important and significant predictor of their patronization behaviour. However, there are still issues of concern to be addressed for current and past members. These include the inability of management to include members in the decision making process as well as issues of member training and education for the current members, and for the former members who left because they found the experience not rewarding or unable to use the services of their cooperatives when they moved.Institutional and Behavioral Economics,