Consumer resistance to internet banking services: implications for the innovation resistance theory

Barriers to invest in NFTs: An innovation resistance theory perspective

“…Academic research has paid limited attention to understanding the reasons behind consumer resistance towards investing in NFTs. However, it is argued that in order to establish and sustain a viable NFT ecosystem, it is crucial to comprehend the barriers that influence consumers' reluctance to embrace this innovation (e.g., Baklouti & Boukamcha, 2023;Leong et al, 2021;Migliore et al, 2022;Ram & Sheth, 1989). Thus, this study adopts the innovation resistance theory (IRT) (Ram & Sheth, 1989) to investigate the potential factors contributing to consumers' resistance towards NFT investment, aiming to partially address this research gap.…”

“…Thus, IRT is the most suitable framework for investigating this particular research objective. Second, IRT has been applied and validated in various user innovations contexts, such as mobile banking (Laukkanen, 2016), smart product and services (Mani & Chouk, 2018), eco-friendly cosmetics (Sadiq et al, 2021), organic food consumption (Kushwah et al, 2019), m-payment solutions (Migliore et al, 2022), m-ticketing applications (Chen et al, 2022), Internet of Things (Lee, 2020), online travel agencies (Talwar et al, 2020), digital device recycling platform (Tang & Chen, 2022), drone food delivery (Khalil et al, 2022), Internet banking services (Baklouti & Boukamcha, 2023), among others, This extensive application and validation of IRT in diverse contexts suggest its reliability and applicability in investigating consumer resistance towards NFTs' investment. The usage barrier (UB) emerges when a new innovation clashes with the established work processes, experiences, or habits of consumers, potentially disrupting their existing norms and routines (Ram & Sheth, 1989).…”

“…Therefore, investors will only choose to invest in NFTs if they provide advantages over other investment methods such as currency, oil, real estate, and stocks. VB has been found to have a negative impact on the intention to purchase from online travel agencies (Talwar et al, 2020), the purchase of eco-friendly cosmetic products (Sadiq et al, 2021), and Internet banking services (Baklouti & Boukamcha, 2023). Consequently, the following hypothesis is formulated: H2: Value barrier is negatively associated with the intentions to invest in NFTs.…”

“…The risk barrier (RB) refers to the degree to which uncertainty and risk are perceived as inherent in a new innovation or product (Ram & Sheth, 1989). Every new innovation or product carries a certain level of uncertainty and risk (Baklouti & Boukamcha, 2023), leading consumers to often delay adoption until ambiguity is resolved (Kushwah et al, 2019), resulting in a slower rate of adoption (Ram & Sheth, 1989). Sadiq et al (2021) suggested that risk acts as a barrier and increases with the level of ambiguity surrounding a new innovation.…”

“…The NFT market is still relatively new, and there may be some ups and downs in the future (NonFungible.com, 2022b). As such, this study investigates customers' reluctance and resistance to invest in NFTs, arguing that in order to establish and maintain a sustainable NFTs market, it is imperative to comprehend the barriers that affect consumers' resistance to invest in this innovation (e.g., Baklouti & Boukamcha, 2023;Leong et al, 2021;Migliore et al, 2022;. This research study adopted the innovation resistance theory (IRT) (Ram & Sheth, 1989) as its theory base.…”