Airbnb clients select lodging based mostly on a non-monetary value and previous expertise

Airbnb clients select lodging based mostly on a non-monetary value and previous expertise

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Inés Küster and Juan J. Pascual, researchers within the Division of Advertising and Market Analysis on the College of Valencia, level out that non-monetary value and expertise are the variables that almost all affect the buying resolution Airbnb customers. As well as, in an article printed within the journal Administration Letters / Cuadernos de Gestión, they advocate that hosts concentrate on producing satisfying experiences fairly than maximizing the worth of their providing.

The hiring of P2P internet hosting providers, or hiring from laptop to laptop, with out intermediaries has had an exponential development since 2011. An instance is Airbnb. The town of Valencia, a Spanish vacationer hub, joined this pattern just a few years in the past and there was a rise in educational analysis that seeks to know the non-monetary motivations of its customers to rule out a resort and select a full home or flat with a non-public particular person.

“Vacationers wish to cut back non-monetary or subjective prices, and never financial ones, linked to the consumption of an lodging different like Airbnb,” explains Professor Küster. “As well as, we all know that utilizing a P2P service entails monetary, service and time dangers, and but clients nonetheless desire them. The reason being that these customers outline the worth they wish to pay based mostly on emotional worth, social worth, after which the connection between value and value, and efficiency and high quality,” concludes the professional. “One doable reply to why they like Airbnb is that the non-monetary or behavioral value is extra related in defining the worth assigned when deciding lodging,” the researcher concludes.

Within the article, “Non-monetary value perceived in e-peer-to-peer lodging. Airbnb friends perspective,” they used an basically quantitative approach, a novelty since these research are largely carried out from a qualitative perspective. Inés Küster and Juan P. Pascual used a closed questionnaire with 136 Airbnb friends residing in Valencia.

“We discover proof that reveals that previous expertise, monetary danger, and time danger affect the perceived non-monetary value and friends’ intentions to re-hire the service,” Professor Küster explains.

Together with this, researchers have discovered that previous expertise has a optimistic oblique impact on non-monetary value. In different phrases, “the earlier expertise of the friends with Airbnb has an impact on giving extra significance to facets associated to the non-monetary value, in different phrases, to points past the financial value that’s paid for this service,” signifies the professor.

This sort of value is likely one of the strongest variables that impacts the decision-making technique of Airbnb friends, particularly when customers buy journey merchandise thought of of excessive danger, as is the case in using this platform.

As well as, the perceived advantages of utilizing tourism lodging providers, resembling comfort, hedonism, ease of reserving, and choice of providers, don’t present a big relationship with the perceived non-monetary value. “Furthermore, these elements can’t be thought of to have an effect on this worth part relative to using these providers in on-line client or eC2C expertise environments,” explains Inés Küster.

That is why one in every of Küster and Pascual’s suggestions to Airbnb hosts is that they do not concentrate on maximizing their worth “as they do not have a direct relationship with the intention of reserving rooms in eC2C environments.” They usually add that it could be attention-grabbing to concentrate on producing nice experiences as a result of they enhance each the perceived worth and the acquisition intention: “Perceived dangers will lower and non-monetary value perceptions, which considerably have an effect on the reserve intention, will enhance,” they conclude.

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Extra info:
undefined undefined et al. Non-monetary value perceived in e-peer-to peer lodging. Airbnb friends’ perspective, Cuadernos de Gestión (2021). DOI: 10.5295/cdg.201290ik

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Airbnb clients select lodging based mostly on a non-monetary value and previous expertise (2021, February 26)
retrieved 27 February 2021

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