The Effects of Perceived Risk, Brand Credibility and Past Experience on Purchase Intention in the Airbnb Context

This study investigated the main effects of perceived risks, brand credibility and past experience on intention to stay at Airbnb places and the interaction effects of past experience with perceived risks and brand credibility on intention to stay. A survey research method was utilized in South Korea. Our study is the first study to have applied and supported Jacoby and Kaplan's six constructs in explaining consumers' risk perceptions in the Airbnb context. One of the primary findings of this study was that past experience played a significant moderating role in the Airbnb context. Social risk and psychological risk had negative effects and performance risk had a positive effect on Airbnb users' intention to stay. With regard to non-users, psychological risk had a negative effect on intention to stay. These findings indicate that Airbnb users consider more specific risks based on their prior experiences of Airbnb use. This study also revealed that brand credibility had the strongest influence on both Airbnb users' and non-users' intention to stay. Consistent with previous research, this finding indicates that brand credibility is a critical variable in consumer decision-making for the intangible and heterogeneous products like accommodation. Based on these findings, theoretical and managerial implications were provided, and limitations and future research were discussed.