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Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites. / Liu, Yi; Sutanto, Juliana.
In: Electronic Markets, Vol. 22, No. 2, 06.2012, p. 83-93.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Liu, Y & Sutanto, J 2012, 'Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites', Electronic Markets, vol. 22, no. 2, pp. 83-93. https://doi.org/10.1007/s12525-012-0085-3

APA

Liu, Y., & Sutanto, J. (2012). Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites. Electronic Markets, 22(2), 83-93. https://doi.org/10.1007/s12525-012-0085-3

Vancouver

Liu Y, Sutanto J. Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites. Electronic Markets. 2012 Jun;22(2):83-93. Epub 2012 Apr 25. doi: 10.1007/s12525-012-0085-3

Author

Liu, Yi ; Sutanto, Juliana. / Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites. In: Electronic Markets. 2012 ; Vol. 22, No. 2. pp. 83-93.

Bibtex

@article{cc87f11a280341e8932634e7c101d73a,
title = "Buyers{\textquoteright} purchasing time and herd behavior on deal-of-the-day group-buying websites",
abstract = "Since its introduction 10 years ago, group-buying websites, where buyers with similar purchase interests congregate online to obtain group discounts, have metamorphosed into several variants. The most popular variant is the deal-of-the-day group-buying website, where there is only one product/service being offered each day. Starting in the United States in 2008, this new group-buying variant has rapidly achieved tremendous success and has been widely adopted in various countries. At the end of August 2010, there were more than 1000 deal-of-the-day group-buying websites in the most competitive online marketplace, i.e., China. How exactly do buyers behave on these websites? How can deal-of-the-day group-buying website providers take advantage of buyers{\textquoteright} behavior? Based on herd behavior, we collected and analyzed over 500 hourly orders on the most popular deal-of-the-day group-buying website in Beijing. We found that auction times and new orders for each hour have an inverted-U relationship. Moreover, we discovered that the number of existing orders will only have a positive effect on the number of new orders during the first half of the day. Contributions to research and implications for group-buying website providers are presented in the paper.",
keywords = "Online group-buying, Deal-of-the-day, Purchasing time, Herd behavior, Buyer behavior, D89",
author = "Yi Liu and Juliana Sutanto",
year = "2012",
month = jun,
doi = "10.1007/s12525-012-0085-3",
language = "English",
volume = "22",
pages = "83--93",
journal = "Electronic Markets",
issn = "1019-6781",
publisher = "Springer Verlag",
number = "2",

}

RIS

TY - JOUR

T1 - Buyers’ purchasing time and herd behavior on deal-of-the-day group-buying websites

AU - Liu, Yi

AU - Sutanto, Juliana

PY - 2012/6

Y1 - 2012/6

N2 - Since its introduction 10 years ago, group-buying websites, where buyers with similar purchase interests congregate online to obtain group discounts, have metamorphosed into several variants. The most popular variant is the deal-of-the-day group-buying website, where there is only one product/service being offered each day. Starting in the United States in 2008, this new group-buying variant has rapidly achieved tremendous success and has been widely adopted in various countries. At the end of August 2010, there were more than 1000 deal-of-the-day group-buying websites in the most competitive online marketplace, i.e., China. How exactly do buyers behave on these websites? How can deal-of-the-day group-buying website providers take advantage of buyers’ behavior? Based on herd behavior, we collected and analyzed over 500 hourly orders on the most popular deal-of-the-day group-buying website in Beijing. We found that auction times and new orders for each hour have an inverted-U relationship. Moreover, we discovered that the number of existing orders will only have a positive effect on the number of new orders during the first half of the day. Contributions to research and implications for group-buying website providers are presented in the paper.

AB - Since its introduction 10 years ago, group-buying websites, where buyers with similar purchase interests congregate online to obtain group discounts, have metamorphosed into several variants. The most popular variant is the deal-of-the-day group-buying website, where there is only one product/service being offered each day. Starting in the United States in 2008, this new group-buying variant has rapidly achieved tremendous success and has been widely adopted in various countries. At the end of August 2010, there were more than 1000 deal-of-the-day group-buying websites in the most competitive online marketplace, i.e., China. How exactly do buyers behave on these websites? How can deal-of-the-day group-buying website providers take advantage of buyers’ behavior? Based on herd behavior, we collected and analyzed over 500 hourly orders on the most popular deal-of-the-day group-buying website in Beijing. We found that auction times and new orders for each hour have an inverted-U relationship. Moreover, we discovered that the number of existing orders will only have a positive effect on the number of new orders during the first half of the day. Contributions to research and implications for group-buying website providers are presented in the paper.

KW - Online group-buying

KW - Deal-of-the-day

KW - Purchasing time

KW - Herd behavior

KW - Buyer behavior

KW - D89

U2 - 10.1007/s12525-012-0085-3

DO - 10.1007/s12525-012-0085-3

M3 - Journal article

VL - 22

SP - 83

EP - 93

JO - Electronic Markets

JF - Electronic Markets

SN - 1019-6781

IS - 2

ER -