Drivers of Youth Consumer Adoption of Sharing Commerce: Examining the Effect of Social and Technical Enablers on Generation Z in Sri Lanka

Abstract

Aim: This study aims to investigate the factors influencing the adoption of sharing commerce among youth in Sri Lanka, addressing an empirical gap in the existing literature. Background: Sharing commerce, a subset of the sharing economy, focuses on peer-to-peer sharing of goods and services, leveraging underutilized assets and resources. Understanding the factors that drive young consumers, often referred to as 'digital natives,' to adopt sharing commerce is crucial for fostering innovation and sustainable economic growth. Methods: The research employs a quantitative approach, integrating established theories; the Technology Acceptance Model (TAM), the Theory of Planned Behavior (TPB), and Sociotechnical theory. Social influence, Trust, Perceived usefulness and Technology infrastructure are included as determinants. Data were collected through a survey questionnaire administered to the respondents in the Colombo District, Sri Lanka. The study used multiple regression analysis to identify the key factors influencing the intention to adopt sharing commerce. The data was collected for a period of three months from March 2024 to June 2024. Out of the 400 distributed questionnaires, 383 responses were received from all the groups. Findings: The multiple regression analysis reveals that technology infrastructure and perceived usefulness positively influence the intention to adopt sharing commerce. In contrast, social influence and trust have a negative impact. These findings highlight the complex interplay of technological, social, and personal factors in shaping young consumers' adoption-sharing behaviour. Originality: The study expands the Theory of Planned Behavior (TPB) by providing empirical evidence that negative social influence can deter young consumers from adopting sharing commerce. This finding adds a new dimension to TPB by exploring the negative aspects of social pressure, which have been less emphasized in previous research. The study contributes to Sociotechnical theory by emphasizing the importance of a reliable and user-friendly technological framework in facilitating the adoption of sharing commerce. Implications: The findings provide valuable insights for policymakers, businesses, and educational institutions to foster innovation and sustainable economic growth through sharing commerce.