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The last decade has seen the emergence of the sharing economy as well as the rise of a diverse array of research on this topic both inside and outside the marketing discipline. However, the sharing economy’s implications for marketing thought and practice remain unclear. This article defines the sharing economy as a technologically enabled socioeconomic system with five key characteristics (i.e., temporary access, transfer of economic value, platform mediation, expanded consumer role, and crowdsourced supply). It also examines the sharing economy’s impact on marketing’s traditional beliefs and practices in terms of how it challenges three key foundations of marketing: institutions (e.g., consumers, firms and channels, regulators), processes (e.g., innovation, branding, customer experience, value appropriation), and value creation (e.g., value for consumers, value for firms, value for society) and offers future research directions designed to push the boundaries of marketing thought. The article concludes with a set of forward-looking guideposts that highlight the implications of the sharing economy’s paradoxes, maturation, and technological development for marketing research. Collectively, this article aims to help marketing scholars not only keep pace with the sharing economy but also shape its future direction.

Given the positive bias toward attractive people in society, online sellers are justifiably apprehensive about perceptions of their profile pictures. Although the existing literature emphasizes the “beauty premium” and the “ugliness penalty,” the current studies of seller profile pictures on customer-to-customer e-commerce platforms find a U-shaped relationship between facial attractiveness and product sales (i.e., both beauty and ugliness premiums and, thus, a “plainness penalty”). By analyzing two large data sets, the authors find that both attractive and unattractive people sell significantly more than plain-looking people. Two online experiments reveal that attractive sellers enjoy greater source credibility due to perceived sociability and competence, whereas unattractive sellers are considered more believable on the basis of their perceived competence. While a beauty premium is apparent for appearance-relevant products, an ugliness premium is more pronounced for expertise-relevant products and for female consumers evaluating male sellers. These findings highlight the influence of facial appearance as a key vehicle for impression formation in online platforms and its complex effects in e-commerce and marketing.

Research Summary: Platform owners sometimes enter complementors' product spaces and compete against them. Using data from Amazon.com to study Amazon's entry pattern into third-party sellers' product spaces, we find that Amazon is more likely to target successful product spaces. We also find that Amazon is less likely to enter product spaces that require greater seller efforts to grow, suggesting that complementors' platform-specific investments influence platform owners' entry decisions. While Amazon's entry discourages affected third-party sellers from subsequently pursuing growth on the platform, it increases product demand and reduces shipping costs for consumers. We consider the implications of these findings for complementors in platform-based markets. Managerial Summary: Platform owners can exert considerable influence over their complementors' welfare. Many complementors with successful products are pushed out of markets because platform owners enter their product spaces and compete directly with them. To mitigate such risks, complementors could build their businesses by aggregating nonblockbuster products or focusing on products requiring significant platform-specific investments to grow. They should also develop capabilities in new product discovery so that they could continually bring innovative products to their platforms.

Online influencer marketing (OIM) has become an integral component of brands’ marketing strategies; however, marketers lack an adequate understanding of its scope, effectiveness, and potential threats. To fill this gap, this article first describes the phenomenon’s background, defines OIM, and delineates its unique features to set the conceptual boundaries for the new concept. Drawing insights from practitioner and consumer interviews, and in line with social capital theory, the authors propose that OIM can be understood as leveraging influencer resources (including follower networks, personal positioning, communication content, and follower trust) to enhance a firm’s marketing communication effectiveness. Six novel propositions illustrate the benefits and potential threats of OIM, which may spur progress toward a theory of OIM. Finally, this article outlines key strategies for effectively managing OIM and identifies important literature–practice gaps to suggest avenues for further research.

Creating effective online customer experiences through well-designed product web pages is critical to success in online retailing. How such web pages should look specifically, however, remains unclear. Previous work has only addressed a few online design elements in isolation, without accounting for the potential need to adjust experiences to reflect the characteristics of the products or brands being sold. Across 16 experiments, this research investigates how 13 unique design elements shape four dimensions of the online customer experience (informativeness, entertainment, social presence, and sensory appeal) and thus influence purchase. Product (search vs. experience) and brand (trustworthiness) characteristics exacerbate or mitigate the uncertainty inherent in online shopping, such that they moderate the influence of each experience dimension on purchases. A field experiment that manipulates real product pages on Amazon.com affirms these findings. The results thus provide managers with clear strategic guidance on how to build effective web pages.

The world of retailing has changed dramatically in the past decade. The advent of the online channel and new additional digital channels such as mobile channels and social media have changed retail business models, the execution of the retail mix, and shopper behavior. Whereas multi-channel was in vogue in the last decade in retailing, we now observe a move to so-called omni-channel retailing. Omni-channel retailing is taking a broader perspective on channels and how shoppers are influenced and move through channels in their search and buying process. We discuss this development conceptually and subsequently discuss existing research in this multi-channel retailing. We also introduce the articles in this special issue on multi-channel retailing and position these articles in the new omni-channel movement. We end with putting forward a research agenda to further guide future research in this area.

Online firestorms pose severe threats to online brand communities. Any negative electronic word of mouth (eWOM) has the potential to become an online firestorm, yet not every post does, so finding ways to detect and respond to negative eWOM constitutes a critical managerial priority. The authors develop a comprehensive framework that integrates different drivers of negative eWOM and the response approaches that firms use to engage in and disengage from online conversations with complaining customers. A text-mining study of negative eWOM demonstrates distinct impacts of high- and low-arousal emotions, structural tie strength, and linguistic style match (between sender and brand community) on firestorm potential. The firm’s response must be tailored to the intensity of arousal in the negative eWOM to limit the virality of potential online firestorms. The impact of initiated firestorms can be mitigated by distinct firm responses over time, and the effectiveness of different disengagement approaches also varies with their timing. For managers, these insights provide guidance on how to detect and reduce the virality of online firestorms.

This research examines customer engagement in social media (CESM) using a meta-analytic model of 814 effect sizes across 97 studies involving 161,059 respondents. Findings reveal that customer engagement is driven by satisfaction, positive emotions, and trust, but not by commitment. Satisfaction is a stronger predictor of customer engagement in high (vs. low) convenience, B2B (vs. B2C), and Twitter (vs. Facebook and Blogs). Twitter appears twice as likely as other social media platforms to improve customer engagement via satisfaction and positive emotions. Customer engagement is also found to have substantial value for companies, directly impacting firm performance, behavioral intention, and word-of-mouth. Moreover, hedonic consumption yields nearly three times stronger customer engagement to firm performance effects vis-à-vis utilitarian consumption. However, contrary to conventional managerial wisdom, word-of-mouth does not improve firm performance nor does it mediate customer engagement effects on firm performance. Contributions to customer engagement theory, including an embellishment of the customer engagement mechanics definition, and practical implications for managers are discussed.

We develop a dynamic asset pricing model of cryptocurrencies/tokens that allow users to conduct peer-to-peer transactions on digital platforms. The equilibrium price of tokens is determined by aggregating heterogeneous users’transactional demand, rather than discounting cash flows as is done in standard valuations models. Endogenous platform adoption builds on user network externality and exhibits an S-curve: it starts slow, becomes volatile, and eventually tapers off. The introduction of tokens lowers users’ transaction costs on the platform by allowing users to capitalize on platform growth. The resultant intertemporal feedback between user adoption and token price accelerates adoption and dampens user-base volatility.

[Display omitted] •Sensory touch control (vs. voice control) leads to higher willingness-to-pay.•The process is mediated via reduced mental intangibility that in turn increases decision comfort.•We identify an assessment orientation as a consumer boundary condition.•Congruent auditory feedback positively moderates the effect of touch control on decision comfort. Mental intangibility during product evaluation remains one of the greatest drawbacks for online purchasing. However, emerging multi-sensory Augmented Reality (m-AR) applications offer a potential solution for this online retailing problem. Drawing on active inference theory, this article proposes a conceptual framework to assess how sensory control and feedback modalities affect consumer value judgements by reducing mental intangibility. We show how touch control, compared to voice control, positively affects consumers’ willingness-to-pay. The underlying mechanism is a sequential process of reduced mental intangibility and increased feeling of decision comfort. In addition, we highlight a positive moderating effect of congruent auditory feedback on decision comfort. We also demonstrate a novel consumer boundary condition. Consumers high in assessment orientation experience a stronger reduction in mental intangibility. The results are consistently replicated across three experiments implying theoretical and managerial contributions for m-AR in the context of online retailing.