An attractive proposition? Persuading retail consumers to prefer reward-based crowdfunding for owning upcoming technologies

Abstract

Can ordinary consumers be persuaded to choose reward-based crowdfunding over retail purchase to own new technologies? To investigate, we developed a C2P (consumer-to-patron) Persuasion Model and tested it using mixed-factorial experimental design. Results showed positive influence of crowdfunding discounts on consumers’ likelihood to fund/refer which was negatively moderated by the expected waiting time to receive product. Affective cues helped with getting referrals but not donations. Technology attractiveness and price, along with consumers’ gender and risk-propensity had significant influences. Based on the findings, we recommend technopreneurs to consciously target ordinary consumers for funding, and e-commerce and crowdfunding platforms to form design synergies.