Consumers’ Readiness and Acceptance of Beacon Technology

Abstract

Purpose : The objective of this study was to present an extended technology readiness and acceptance model for beacon technology. Predictions for beacons are optimistic; despite this fact, it is important to measure customers’ readiness and acceptance of this technology, as the failure rate of new product innovation is very high. Methodology : This study merged the technology acceptance model (TAM) and the technology readiness (TR) model for beacon technology. Atotal of five exogenous variables influenced five endogenous variables in this study. The five exogenous variables are optimism, innovativeness, insecurity, discomfort, and perceived risk. The endogenous variables are perceived usefulness, perceived ease of use, intention to use, actual use, and perceived enjoyment. A questionnaire was used to collect the data, and analysis was performed with 404 samples on AMOS-26. Findings : Significant findings of this study revealed that technology readiness led to perceived enjoyment, perceived ease of use, and perceived usefulness of using beacon equipment. Intention to use influenced the actual use of beacon technology, while perceived risk showed a negative influence on it. Practical Implications : This study addressed an important gap in the field of beacon technology and proximity marketing. This report would help retail managers develop strategies for beacon technology and its implications. They could work on areas such as risk, generating value propositions through beacon technology, and projecting using beacon technology as a fun activity. Originality : The findings of this study provide managerial insights for retailers operating in South Asian countries and would allow them to build more effective retail strategies to achieve widespread adoption of location-based retail applications.