The role of influencer endorsements in users’ willingness to pay for knowledge products: an empirical investigation

Xiaoyu Chen and Alton Y. K. Chua

Chapter 19 in The Elgar Companion to Information Economics, 2024, pp 379-394 from Edward Elgar Publishing

Abstract: Online merchants may draw users to pay for products or services by leveraging influencer endorsements. However, little is known about how influencer endorsements affect users’ willingness to pay for knowledge products, whose quality is usually difficult to assess prior to consumption. To address the gap, this chapter draws on attachment theory and the value transfer process to develop a theoretical model. The model proposes three constructs significant to users’ willingness to pay, namely, perceived attractiveness of influencers who endorsed knowledge products, users’ attachment to knowledge products, and the expected value of knowledge products. Based on a scenario-based survey with a sample of 441 respondents, this chapter suggests that perceived attractiveness of influencers not only promotes users’ attachment but also raises the expected value of knowledge products and willingness to pay. Additionally, users’ attachment to knowledge products helps to increase the expected value, both of which affect willingness to pay. This chapter may provide a deeper understanding of the persuasive power of influencers in the context of knowledge product consumption. It can also inform online merchants of knowledge products in developing an effective marketing strategy.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2024
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