Analysis of Information Digestion Differences among Players in Online C2C Markets

Abstract: In recent years, the magnitude of consumer-to-consumer (C2C) markets have grown significantly, highlighting the increasing significance of trust between buyers and sellers. However, the specific aspects of product information that facilitate effective communication and trust building in C2C markets remain poorly understood. This study examines the concept of information digestion-the process through which information is accurately understood-and aims to elucidate differences in the information digestion processes of sellers and buyers to clarify the role of product page information. To address this, we conducted two experiments: a questionnaire survey involving 400 subjects and a conjoint analysis with eye-tracking for 15 participants. Initially, we selected eight sample products from four distinct product categories based on the Foote, Cone, and Belding (FCB) grid and compared the product information components considered important by sellers and buyers. Subsequently, we created 12 types of product pages that varied in the combination of four attributes: title, price, product description, and image. Experiment 1 revealed significant differences in the perceived importance of product page components between buyers and sellers. It also demonstrated that product categories and transaction experience influenced the importance assigned to these components, particularly for buyers. Results from Experiment 2 showed that buyers prioritize product descriptions and identified two distinct buyer groups based on their information digestion patterns: one that carefully reads and digests information and another that processes information more rapidly. These findings enhance our understanding of trust-building mechanisms in online C2C markets and provide practical insights for platform designers and market participants.