• Journal of Information Technology Services
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• v.21 no.2
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• pp.1-26
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• 2022

This study classified five types of online food subscription economy: replenishment, curation, surprise, membership, and visitation. An online survey was conducted with 314 customers who experienced 5 types of online subscription economy. This study selected the characteristics of the food subscription economy as convenience, perceived personalization, economic utility, and timeliness through previous studies. The effect of the four characteristics on perceived value (utilitarian and emotional) and the relationship between customer engagement and perceived value, which are dependent variables that have never been used in the food subscription economy, were verified through the S-O-R model. In this relationship, we demonstrated how consumers' personal tendencies, such as need for cognitive closure and self-efficacy, mediate between timeliness and perceived value related to online food delivery. The study results are as follows. Perceived personalization, convenience, and timeliness had a positive effect on the utilitarian value in the order. It also had a positive effect on emotional values in the order of perceived personalization and timeliness. On the other hand, economic utility had no significant effect on practical branches. Customer engagement had a positive effect in the order of emotional value and utilitarian value. The lower the need for cognitive closure the more positive the utilitarian value. The lower the self-efficacy, the more positive the emotional value was perceived. Through the above study, companies that want to operate or start an online food subscription economy need a strategic approach rather than unreasonable price discounts in pricing policy. In addition, it is necessary to focus on marketing activities that provide emotional value by focusing on perceived personalization, which is the satisfaction factor of online food subscription.

• Journal of Korean Society for Quality Management
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• v.50 no.3
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• pp.593-615
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• 2022

Purpose: The purpose of this study was to explore and examine the factors influencing customer satisfaction and subscription intention in order to propose useful implication regarding subscription economy model. Methods: This study adopts the extended Unified Theory of Acceptance and Use of Technology model (UTAUT2) as the theoretical framework. On the basis of literature review, this study suggested 9 related hypothesis. To examine the hypothesis proposed, the study designed surveys with 32 questions and 456 answers were collected for the analysis. The study adopted a structural equation model and path analysis, using AMOS and SPSS programs. Results: The results of this study are as follow: All hypothesis except performance expectancy and effort expectancy have significant influence on customer satisfaction. Performance expectancy and effort expectancy have no significant influence on customer satisfaction and facilitate condition is significant but negatively associated with customer satisfaction. Conclusion: Result of this study is expected to suggest data regarding subscription economy and customer satisfaction for business with subscription model. In detail the result implies that highly sophisticated curation system would create more customer satisfaction and subscription intention rather than how a subscription-based platform is easily used. Moreover, curation system of subsription-based music platform should function with high accuracy on recommendation in a creative visual form in order to gain comparative advantage while most platforms have built own curation service.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.23 no.2
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• pp.7-14
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• 2023

As the consumption paradigm shifts from 'possession' to 'subscription', the subscription economy market is growing rapidly. The subscription economy is characterized by the fact that consumers can pay for and purchase products and services and use them limitedly for a limited time. Therefore, this study examined the effect of subjective perception of the time (duration) of consumers' subscription service use on subscription intention according to the time presentation method (duration/date) of subscription service use. In addition, the effect of differences in time presentation methods according to the type of subscription service (utility/hedonic) on subscription intention was examined. As a result of the study, the willingness to subscribe was higher when offering by date than when offering by date. In addition, for subscription services consumed for practical purposes, there was no difference in the effect on subscription intention according to the time presentation method. appeared to be Based on these results, the theoretical significance and practical implications of this study were presented.

• Journal of Digital Convergence
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• v.18 no.9
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• pp.71-79
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• 2020

In recent years, Korean consumption trends have undergone rapid changes. Also, subscription economy has emerged and is growing as a new shopping method. The purpose of this study was to verify the relationship between consumer attitude and intention to continue to use of the consumption value of subscription service based on subscription economy. To this end, we analyzed the structural equation modeling for 300 consumers who used HMR products through subscription services. The analysis results are as follows. First, consumption value (functional, emotional, social and monetary) of HMR products perceived by subscribers had a significantly positive effect on consumer attitude except for monetary value. Second, consumer attitude was found to have a positive effect on consumers' intention to continue to use. This study contributes to the development of academic theories related to the subscription service in the early stages and provides managerial implications for HMR-related companies that want to utilize subscription service.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.535-542
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• 2023

This study attempted to identify various variables that affect satisfaction and continued use intention of the subscription economy services. Through previous research studies, individual characteristics and service characteristic variables were considered together. Finally, use motivation, platform characteristic factors, and product and service characteristic factors were classified and examined. As a result of the study, the motive for using the service that affects the satisfaction of the subscription economy service was found to be functional hedonic, and economic motive, and platform recency and convenience, economic utility, and perceived personalization had a positive effect. Functional and hedonic motives and convenience showed positive influences on continued use intention, while social motives showed negative influences. In addition, it was confirmed that economic motivation, platform recency, economic utility, and perceived personalization showed a positive influence on the intention to continued use intention by mediating satisfaction with subscription economy services.

• Journal of Venture Innovation
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• v.6 no.1
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• pp.1-16
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• 2023

Due to the progress of the 4th industrial revolution and the COVID-19 pandemic, the subscription economy was rapidly expanding. In particular, the subscription economy was expected to expand further as the servicing of products(servitization) rapidly progresses. In this study, we tried to empirically analyze the factors that promote and hinder the spread of the subscription economy from the consumer's point of view. To this end, based on the Service Profit Chain (SPC) model, which identified mechanisms leading from quality to satisfaction, loyalty, and performance, a research model was established by combining the framework of the Value-based Adoption Model (VAM), which covers both benefit and sacrifice factors. Usefulness and convenience were derived as benefit factors, and perceived risks and perceived costs were derived as sacrifice factors. The effects of these factors on satisfaction and continuous use intention were analyzed. For empirical analysis, a survey was conducted targeting people who have experience in subscription economy, and 300 effective samples were analyzed. The analysis was performed as a structural equation model using AMOS 24. As a result of the empirical study, it was found that convenience had a significant positive (+) effect on satisfaction. Perceived risk and perceived cost were analyzed to have a negative (-) effect on satisfaction. On the other hand, usefulness was found to have no significant effect on satisfaction. The influences affecting satisfaction were in the order of perceived cost, convenience, and perceived risk. Satisfaction was found to have a significant positive (+) effect on continuous use intention. The results of this study were considered meaningful in that they broadened the horizons of research by combining existing validated models at the academic level and testing their validity, and found that perceived cost was still an important factor at the practical level.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.3
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• pp.1-11
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• 2024

Content is now recognized as a key resource to sustain competitive advantage in the OTT market and for e-commerce companies. Coupang is pursuing a content growth strategy to maximize the lock-in effect that binds consumers to the subscription economy and its ecosystem. Given this background, this study aims to explain Coupang's content growth momentum through a case study method and examine Coupang's content strategy in detail. Based on this, this study describes Coupang's content growth strategy in detail and confirms that Coupang differentiates its content from the competition by focusing on sports and low prices to build a lock-in effect in the subscription economy. As a result, we can summarize that the purpose of Coupang's content strategy is to build a lock-in effect for the subscription economy based on content differentiation focused on sports, a bundle strategy linked to e-commerce, and a low-cost strategy. This study contributes to the field of venture creation research by carefully analyzing how Coupang grew from a venture firm to a Decacorn corporation and developed the influence of its content in a completely different industry, and systematically explains the importance of content strategy in strengthening the lock-in effect for the subscription economy. Future research should compare the impact of content strategy of venture and startups in the contents industry to broaden the scope of research in the field and suggest deeper lessons learned.

• Korean Association of Arts Management
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• no.57
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• pp.33-58
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• 2021

The purpose of this study is to understand the impact of the subscription economy on the contemporary art market in terms of creation, consumption and distribution of artwork. To accomplish the aim of this study, we conducted a case study of Artnomic Gallery K borrowing the theoretical perspective from Alexander(2003)'s Modified Cultural Diamond model. In this paper, we collected data through reviewing the secondary document and conducting in-depth interviews with 10 experts and consumers in the art market. As a result, the subscription economy eases the traditional art trade, which is heavily focused on a small number of market arts, by encouraging artists to create various works. The transition to subscription in the purchase of art contributes to lowering the barriers to entry into the art market by reducing the financial burden on consumers in terms of consumption. In terms of distribution, this founding of this article shows that the experts of Gallery K are the main actors in selecting the works that consumers subscribe to. Therefore, in this study, it is of academic significance to discuss that the filtering effect of the distribution system emphasized by Alexander(2003) is effective even in the art trading system to which a new form of economic activity - the subscription economy - is applied.

• Journal of Digital Convergence
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• v.19 no.9
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• pp.157-168
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• 2021

As a recent global economic trend, the subscription economy is rapidly expanding along with the growth of non-face-to-face online shopping. This study tried to verify the factors influencing online subscription for disposable consumer goods through behavioral reasoning theory. 344 questionnaire responses were collected through a survey in Korea and empirical analysis was performed. As a result of the analysis, value of openness was found to have a positive effect on attitude, reason for adoption and reason against adoption. Reason for adoption showed a positive effect on attitude and adoption intention. Reason against adoption showed a negative effect on attitude but it has no impact on adoption intention. Attitude showed a positive effect on adoption intention. Finally price consciousness and quality barrier was found to the most important factors of reason for adoption and reason against adoption respectively. The results of this study can contribute to subscription companies establishing their marketing strategies. Future research can be conducted with various subscription products and additional variables.

• Journal of Digital Convergence
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• v.19 no.9
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• pp.125-133
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• 2021

This study investigated to explore the broadened concept of the subscription service market and categorize of the subscription market and its consumer behavior. We examined the satisfaction of the service users and the reasons for terminating the subscription. Survey respondents were 443 people in their 20s and 30s, who actively use subscription services. As a result of the survey it was found that users in their 20s were more satisfied with the overall subscription service than those in their 30s, and that user's residential areas were evenly distributed regardless of metropolitan area or non-metropolitan area. As a reason for the cancellation of subscription service: the lower the novelty of subscription, the less personalization tailored to consumer, the lack of feeling self-growth while using the service, and the more termination is made. Our findings have magnified the understanding of consumers behaviors in the age of 20s and 30s of using and terminating subscription service and hopefully be used for future studies of subscription services.