市场营销学系学术讲座

时间：2024年8月20日（周二）14:00-15:30

地点：思源楼 624

主题：E-Platform Facilitated Buy-Now-Pay-Later (BNPL) Effectiveness: Concurrent Channel Power Asymmetry Mitigation and Market Expansion

主讲人：Peng Zhang Assistant Professor of Marketing University of Hong Kong

主持人：肖莉副教授

摘要:

This study investigates how e-platform facilitated buy-now-pay-later (BNPL; e.g., Amazon Affirm, Alibaba Huabei, JD.com Baitiao), as a point-of-sale financing option, exerts legitimacy effects assisting e-platform-level B2B channel power asymmetry mitigation (brand vs. retailer stores). Drawing on legitimacy theory and proprietary empirical data from one of the largest e-platforms in Asia, the authors reveal that a 10% increase in the use of interest-free BNPL (relative to other payment options) in a retailer store drives 0.88% increase in retailer store market growth (compared to the brand store) on the e-platform. A 10% increase in the use of with-interest BNPL (relative to other payment options) in a retailer store drives 1.41% increase in retailer store market growth (compared to the brand store). However, power asymmetry mitigation driven by interest-free BNPL leads to decrease in the overall order volume of the sampled product sold on platform. In contrast, with-interest BNPL-driven power asymmetry mitigation, on average, tends to enhance the overall order volume, achieving market expansion. This study contributes to the literature by expanding our theoretical understanding of e-platform facilitated BNPLs as a legitimacy endowment in mitigating power asymmetry between brand and retailer stores, while most current studies in this area tend to treat sellers homogenously. Moreover, it empirically captures the effect of the legitimacy as a mechanism, while accounting for identification issues engendered by confounding factors and self-selection bias. At last, learnings extracted from this study will be of great value for BNPL managers of 3P e-platforms to refine their BNPL promotion strategies to achieve channel migration and market expansion objectives.

简介:

Peng Zhang is an assistant professor of marketing from the University of Hong Kong (HKU) since 2021. As an empirical strategy researcher, Dr. Zhang’s research interests focus on B2B marketing, multichannel marketing, digital advertising, and influencer marketing. Before joining HKU, Dr. Zhang studied and received his Ph.D degree in marketing from the University of Georgia. So far, his works have been published on premier journals, such as Journal of the Academy of Marketing Science and Journal of Public Policy and Marketing. In addition to his academic career, Dr. Zhang used to work in top 4A advertising agencies for 10 years both in the U.S. and China, where he employed econometric and machine learning techniques for the identification and measurement of advertising campaign effectiveness.