THE IMPACT OF BLOCKCHAIN IN CONSUMER MARKETING AMONG VARIOUS INDUSTRIES

Mladen Pancic ()
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Mladen Pancic: Josip Juraj Strossmayer University of Osijek, Croatia

Business Logistics in Modern Management, 2023, vol. 23, 431-449

Abstract: A significant trend in the business-to-consumer trade has been the rise of cutting-edge e-commerce platforms supporting mobile devices. The advent of e-commerce ushered in a period of profound change in the value-generating process, which ushered in brand-new organizational structures for many businesses. This study investigates the key factors influencing the adoption and integration of blockchain technology across different industries. Through a comprehensive literature review, the study highlights the various applications of blockchain technology in different sectors, such as finance, supply chain, energy, and marketing. A survey was conducted to gather data on companies' current use of blockchain, plans, perceived benefits, and challenges faced during implementation. The 150 answers were stripped of stop words, punctuation, and adverbs in order to conduct the text mining study. The findings suggest that factors such as awareness, strategic approach, collaboration, addressing barriers to adoption, and careful evaluation of blockchain solutions play critical roles in successful blockchain adoption. Based on these findings, the study offers several recommendations for companies to integrate blockchain technology into their operations effectively. Furthermore, the study identifies limitations and proposes future research directions to enhance our understanding of blockchain adoption across various industries.

Keywords: Blockchain; Consumer marketing; Blockchain adoption across various industries (search for similar items in EconPapers)
Date: 2023
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