Trustmarks: Strategies for exploiting their full potential in e-commerce
Frauke Mattison Thompson,
Sven Tuzovic and
Business Horizons, 2019, vol. 62, issue 2, 237-247
Internet-based commerce has undergone explosive growth over the past decade and is expected to keep growing. With the increasing popularity of online marketplaces, trust is seen as a key foundation for consumers’ willingness to purchase, in particular, from unknown sellers. While trust has been examined in various contexts, limited focus has been placed on the importance of displaying institutional trust assurances such as trustmarks on retailers’ websites. We conducted two studies into how the use of trustmarks impacts consumer trust, consumer risk perceptions, and, consequently, influences consumer purchase intentions. The results of the two studies suggest that the use of trustmarks increases consumer online trust and purchase intentions, as well as reducing their perceived risk. We use these results to inform managerial decision making in e-commerce, particularly for marketers and e-retailers. We provide three important managerial lessons to be learned from our insights. Our implications are important not only for mature e-commerce markets to create a competitive advantage but also for growing and emerging e-commerce markets, where new retailers are trying to establish trust among their consumers to increase market share.
Keywords: Trustmark; E-commerce; Willingness to purchase; Customer trust (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:62:y:2019:i:2:p:237-247
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