The finding of this research indicated that while economic benefit, usefulness website, home benefit, hostguest relationship and authenticity have an impact on customer perceived value, Covid19 increase risk perception of tourist, therefore, decreasing Airbnb repurchase intention. HostGuest relationship contributes a considerable impact on perceived value and overall perceived value largely decide customer repurchase intention. In contrast, perceived risk indicates the little effect on repurchase intention even in this unstable period. At the end of the research, suggestions for developers are mentioned for future improvement.
Factors Affect Vietnamese’s Repurchase Intention To Choose Airbnb: Relationship Between Past Experience And The Impact Of Covid-19 A dissertation submitted by Ngoc Thi Tran in partial completion of the award of MSc International Hospitality and Tourism Management 'I hereby declare that the dissertation submitted is wholly the work of Ngoc Thi Tran Any other contributors or sources have either been referenced in the prescribed manner or are listed in the acknowledgements together with the nature and scope of their contribution.' Faculty of Management Bournemouth University 2020 DECLARATION I confirm that this dissertation contains information of a commercial or confidential nature or includes personal information other than that which would normally be in the public domain and that it must not be made available for public access Ethical and Health & Safety issues I confirm that the on-line ethics checklist was completed and that any ethical considerations associated with the proposed research were discussed with my supervisor and an appropriate research strategy was developed which would take them into account I also confirm that any potential health & safety risks associated with the proposed research were discussed with my supervisor and where necessary, appropriate precautions were documented, including an appropriate risk assessment Copyright The copyright for this dissertation remains with me Requests for Information I agree that this dissertation may be made available as the result of a request for information under the Freedom of Information Act Signed: Name: Ngoc Thi Tran Date: 11/9/2020 Programme: MSc International Hospitality and Tourism Management Abstract Airbnb, which considered as a part of sharing economy system, is a quickly expanding industry and has brought people’s attention in various ways In Vietnam, Airbnb appears from 2015 and since then attracting millions of both customers and hosts whose renting their own property to tourists every day Living in a homestay such as Airbnb is a way to create a novel experience and it shows an increase in demand in recent years While this phenomenon showing remarkable growth in term of the number Airbnb around Viet Nam There is a lack of academic literature related to motivations and factors that affect tourist repurchase intention when choosing Airbnb as accommodation for their next trips Furthermore, over the last few months, the breaks out of the pandemic (Covid-19) has led to a significant impact on the tourism industry Airbnb also has a serious influence on the revenue due to countries lockdown and transportation have stopped around the world During this unstable period, there is a need to examine how the current situation affects customer behaviour and how their previous experience secures their perceived value of Airbnb Accordingly, the aim of this study is to examine the relationship between past experience and perceived value, to evaluate the impact of COVID-19 on customer risk perception and to see the relationship between value and risk perception on repurchase intention A quantitative method is used in order to test the hypothesis proposed by the researcher, an online survey was conducted and then using the SPSS software to analyze the data collected The finding of this research indicated that while economic benefit, usefulness website, home benefit, host-guest relationship and authenticity have an impact on customer perceived value, Covid-19 increase risk perception of tourist, therefore, decrease Airbnb repurchase intention Host-Guest relationship contributes a considerable impact on perceived value and overall perceived value largely decide customer repurchase intention In contract, perceived risk indicates a little impact on repurchase intention even in this unstable period At the end of the research, suggestions for developers is mentioned for future improvement Word count: 14.536 Table of Contents Abstract Chapter Introduction 1.1 Background to the topic 1.2 Reasons for choosing the topic 1.2.1 Academic rationale 1.3 Industry rationale 1.4 Research aim and objectives 1.5 Structure of the dissertation 10 Chapter Literature review 11 2.1 Introduction 11 2.2 Airbnb 11 2.2.1 Airbnb phenomenon 11 2.2.2 Studies on Airbnb 12 2.3 Repuchase intention in Airbnb 13 2.4 Perceived value 14 2.4.1 Perceived usefulness 15 2.4.2 Economic benefits 15 2.4.3 Household benefits 15 2.4.4 Host guest relationship 16 2.4.5 Perceived Authenticity 17 2.5 Perceived risk 17 2.5.1 Perceived risk in a crisis (Covid-19 pandemic) 19 2.6 Hypothesis 20 2.7 Research gaps 21 Chapter Methodology 22 3.1 Introduction 22 3.2 Research Philosophies 22 3.3 Research Approach 23 3.4 Secondary research 23 3.5 Primary research 24 3.5.1 Quantitative analysis 25 3.6 Questionnaire design 25 3.7 Sampling and sample size 28 3.7.1 Sampling 29 3.7.2 Sample size 29 3.8 Pilot test 30 3.9 Data analysis 31 3.10 Conclusion 31 Chapter Finding and Analysis 32 4.1 Introduction 32 4.2 Descriptive Analysis 32 4.2.1 Demographic characteristic 32 4.2.2 General data analysis 33 4.3 Reliability Analysis 35 4.4 Validity Analysis 36 4.5 Research Variable Descriptive Analysis 39 4.6 Correlation Analysis 40 4.6.1 Correlation Analysis between PV and other Research Variables 40 4.6.2 Correlation Analysis between PR and Covid-19 41 4.6.3 Correlation Analysis between RI, PV and PR 41 4.6.4 Conclusion 42 4.7 Regression Analysis 42 4.7.1 Regression Analysis for PV and Other Research Variables 43 4.7.2 Regression Analysis for COVID 19 and PR 45 4.7.3 Regression Analysis for RI, PV and PR 46 4.7.4 Conclusion 48 4.8 Hypothesis test 48 Chapter Conclusions and Recommendations 49 5.1 General conclution 49 5.2 Academic contribution 50 5.3 Recommendations for industry 50 5.4 Limitation and implications for future research 51 References 53 Appendices 62 LIST OF TABLES Table 3.1: Questionnaire design 28 Table 4.1: Demographic characteristic analysis 33 Table 4.2: The number of Airbnb stay 33 Table 4.3: Airbnb stay purpose 34 Table 4.4: House type 34 Table 4.5: Geographic choice 35 Table 4.6: Reliability Analysis value 36 Table 4.7: KMO and Bartlett's Test value 37 Table 4.8: Factor Loading value 39 Table 4.9: Research Variable Descriptive Analysis value 39 Table 4.10: Correlation Analysis between PV and other research variables 41 Table 4.11: Correlation Analysis between PR and Covid-19 41 Table 4.12: Correlation Analysis between RI, PV and PR 41 Table 4.13: Model Summary for PV and Other Research Variables 43 Table 14: ANOVA of PV and PE 43 Table 15: Coefficients of PV and PE 44 Table 4.16: Model Summary of Covid-19 and PR 45 Table 4.17: ANOVA of Covid-19 and PR 46 Table 4.18: Coefficients analysis of Covid-19 and PR 46 Table 4.19: Model Summary of RI, PV, and PR 46 Table 4.20: ANOVA of RI, PV, PR 47 Table 4.21: Coefficients of RI, PV, PR 47 Table 4.22: Hypothesis test 48 LIST OF FIGURES Figure 2.1: Model conceptual 20 Figure 3.1: The Comparison between Positivistic Philosophy and Phenomenology (Amended from Collis and Hussey (2003) 23 Figure 3.2: Sampling technique (Israel 1992) 29 Figure 3.3: Sample size equation (Israel 1992) 30 Figure 4.1: Cronbach’s apha value (Tolmie et al 2011) 35 LIST OF ABBREVIATIONS SE: Sharing Economy PV: Perceived value PR: Perceived risk RI: Repurchase intention EFA: exploratory factor analysis KMO: Kaiser-Meyer-Olkin Chapter Introduction 1.1 Background to the topic The sharing economy (SE) is considered as a disruptive business model that commenced in the evolution of Internet technologies and specifically Web 2.0 (Guttentag and Smith 2017; Hall and Williams 2020) Sharing is an old concept, however, the sharing of products and services between strangers for-profit are emerging in recent decades as the emerge of digital technologies (Belk 2010; Frenken and Schor 2017) There are a range of diference terms are used interchangeably with SE such as collaborative economy or peer to peer economy (Guttentag et al 2017) In 2015, the definition of SE officially introduced from the Oxford Dictionaries as: “An economic system in which assets/services are shared between private individuals, either for free or for a fee, typically by means of the Internet” This share model is bringing change in term of shared resource, business model and customer behavior in several industries including Tourism (Pusshmann) Generally, notions of the SE in tourism can be divided into four groups, namely: transportation (e.g Uber, Grab), dining (e.g Eatwith), tour guide services (e.g Vayable), and accommodation (e.g Airbnb, Homeaway, Couchsurfing) (Ert et al., 2016) Organizations such as Airbnb position themselves as part of the sharing economy In Vietnam, Airbnb appears from 2015 and since then attracting millions of both customers and hosts whose renting their own property to tourists every day After just four year, there are more than 50.000 Airbnb listing around the country Living in and homestay such as Airbnb is a new way to create a unique experience and it is showing a sharply increase in the demand There are a number of studies have been conducted to investigate subject related to Airbnb since it is established in 2007 The common studies must be mentioned such as satisfaction experience about the Airbnb (Bai et al 2008; Fang et al 2014; Möhlmann 2015), customer motivations (Johnson 2013; Guttentag et al 2017; Tran and Filimonau 2020), some research compares Airbnb with the hotel industry (Tussyadiah and Zach 2015; McGowan and Mahon 2018; Li et al 2020) At the same time, more and more researchers interested in determining factors that could affect the repurchase intention (RI) in recent year (Matute et al 2016; Liang et al 2017; Amaro et al 2018) According to Liang et al (2017), RI can determine by comparing perceived value (PV) and perceived risk (PR) that the customer receives when booking Airbnb The researcher explores that price, unique experience and good e-word of mouth are significantly crucial to RI This Ballestero et al 2019) On top of that, the host-guest relationship surprisingly shows the greatest impact Secondly, the analysis of Covid-19's impact on PR was examined, indicating support assumption that this pandemic increase customer PR This finding consistent with recent studies about the impact of the pandemic to customer behaviour of Wen et al (2020) and UNWTO (2020) Thirdly, in order to check the relationship between PV, PR and RI, factor analysis was made separately for each variable The results explained that only PV positively related to RI while PR negatively related to RI Meanwhile, the impact of PR on RI is relatively low according to the ratio Therefore, the Airbnb organisers may see obviously impact from the pandemic to customer behaviour Following, the recommendations will be provided in the next section 5.2 Academic contribution The review of the literature indicates there are many studies that examine on RI, how the experience of customer influences the customers perceived and leads to purchases intention Liang et al (2017) study posited that e-word of mouth and perceived authenticity have a notable influence on PV and price-sensitive affect PR, which is both directly impact RI In addition, numerous studies examined the RI base on customer satisfaction (Bai et al 2008; An et al 2010; Fang et al 2014; Möhlmann 2015; Liang et al 2018) With it not being common to focus on the PV and PR relationships with RI While particular with the new market such as homesharing sector, the Host of Airbnb have only got a little direction from utilising hotel strategies into their business strategies since there are several studies related to hotel industry (Guttentag 2019) Therefore, this study focuses on the particular factors which are assumed that may affect RI during literature research Additionally, there are only a few studies on RI as they are related to Airbnb market in developing countries such as Vietnam Thus, this study has explored the Airbnb market in Vietnam Apart from that, Covid-19 pandemic happening around the world also need to be examined since it directly associated with tourism and hospitality 5.3 Recommendations for industry This study sheds lights on the understanding of existing user behaviour and improving Airbnb competition by giving insights to both the Airbnb developers and Airbnb hosts Airbnb website developers should enhance users’ attitudes toward the usefulness regarding the website Most customers think the website useful if it is understandable, convenient to use search engine to look for a suitable accommodation Hence, the website should be displayed with a user-friendly interface, effective and smoothy booking method (Wang and Jeong 2018) Multi-device accessible (such as Laptop, PC and mobile app) are also recommended as one of customer preference when shopping online nowadays (White et al 2019) Providing updated information, trustworthy, and reliable information about the property can increase customers’ perception toward the Airbnb website (Wang and Jeong 2018) Several useful implications for Airbnb hosts who are fascinated in improving the value of their property is shown in the study First, tourists tend to seek an authentic experience in which they can connect to the local They value the lifestyle into the house and local community contributed by the Host, which is proved that significantly impact their PV and PR for the future repurchasing behaviour Airbnb administrators can try to adapt the authenticity elements in their marketing strategy as a unique feature that offer by the local host (Liang et al 2017) At the same time, amenities and utilize belong to the property also consider as an important factor to increase customer PV and leading to buying intention The unlike-hotel facilities bring a unique experience to tourist that should also advertise widely Second, consumer’s perceived to price play a principal reason to choose to stay at Airbnb according to the findings This can be valuable for industry specialists when building a competitive price strategy (Amaro et al 2018; Tran and Filimonau 2020) Last but not least, due to the critical impact caused by the Covid-19 pandemic The Airbnb developer should respond in a timely and positive manner for cleanliness safety standards, reservation and cancellation policies in response to the rapid change of the current pandemic situation (Dolnicar and Zare 2020; Watson 2020) 5.4 Limitation and implications for future research The sample size is limited to users that are Vietnamese and have previous stayed with Airbnb People who have not used Airbnb may have different perceptions, either with the website or with the hosts Consequently, the results only revealing the majority of Airbnb users rather than all population Besides, the outcomes may have been shaped by method bias Although examinations were carried to test for this bias, inherent bias from the writer in developing the survey still exists Furthermore, future studies should try to measure different factor and compare the differences with this model as well as other geographical areas to extend the generalizability of the model Additionally, the survey was only carried out online through social media, so there is a limitation that only users which were using social media in the period from 22nd of August until 3rd of September were reached, which neglected the opinions of people who have stayed at Airbnb but not use the internet regularly Different 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Hence, the following objectives need to be achieved: To investigate the relationship between past experience, current situation and future repurchase intention of Airbnb customers To examine the impact