개방형 기프트카드의 딜레마: 폐쇄형 vs. 개방형 기프트카드에 따른 이용자의 선택 후 만족과 행복의 차이 분석

Abstract

This article examines how a gift card type(unrestricted vs. restricted) influences a gift-receiver's choice satisfaction and happiness. Unrestricted gift cards mean the open-use gift card which can be used for almost every retailor stores like Amex and Visa gift cards, whereas restricted gift cards mean the closed-use gift cards which can only be used in particular stores from issuing retailers such as Starbucks and CGV gift cards(Reinholtz, Bartels, and Parker 2015). Generally, people tend to give unrestricted gift cards more often as a present since these cards can be used in broad retailer stores, thereby allowing gift-receivers to be able to purchase products in large assortments with choice diversity. However, this research casts a doubt on whether the unrestricted-gift cards would lead gift- receivers to higher satisfaction and happiness than restricted gift cards after choosing the product with the given gift cards. Although unrestricted gift cards provide choice diversity, such a broad choice assortment and diversity can cause the choice difficulty and complexity. Prior research has suggested that consumers are likely to feel lower satisfaction and have less positive choice attitude with large assortment rather than small assortment because large assortment can make choice justification difficult. Similarly, unrestricted gift cards which can be used in broad retailer stores can lower the choice satisfaction and happiness than restricted gift cards because compared to restricted gift cards, unrestricted gift cards allow receivers to considers more choice options from different retailers and this large assortment can cause negative effect on gift-receiver's choice satisfaction and happiness. Thus, it is hypothesized that consumers with restricted gift cards will have higher choice satisfaction and happiness than those with unrestricted gift cards. Furthermore, because of the fact that restricted gift cards can be used in the particular issuing retailers, the limitation in store usability of restricted gift cards would provide more effective justification toward the use of the gift cards and the purchase in the only allowed retailor stores. Based on this logic, we expected that some product types which requires the higher level of justification such as hedonic products would benefit from the use of restricted gift cards than unrestricted gift cards. Therefore, it is hypothesized that the effect of gift cards type on choice satisfaction and happiness will be moderated by the product type(hedonic vs utilitarian). Specifically, in hedonic product which requires higher justification, consumers with restricted gift cards will feel higher satisfaction and happiness than those with unrestricted gift cards. However, in utilitarian product which there is lower needs for justification, there will be no difference between two gift card types on choice satisfaction and happiness. To examine these hypothesis, we conducted 5 experiments. In study 1a, we asked participants to recall the experience when they received the gift cards and how they felt choice satisfaction and happiness after using the card to purchase what they wanted. We found that those with restricted gift cards felt higher satisfaction and happiness than those with unrestricted gift cards. In study 1b, participants were asked to imagine that they received a birthday gift(10,000won), either in unrestricted gift card or restricted gift card and they were about to use the gift card in Starbucks. Then, they were asked to choose the product they would be willing to buy with the gift card and how they are satisfied and happy from the choice. The result revealed that compared to participants with unrestricted gift cards, those with restricted gift cards showed higher satisfaction and happiness. This result supports our hypothesis that restricted gift cards will more positively influence to receivers' choice satisfaction and happiness than unrestricted gift cards. Study 2 and 3 were conducted to figure out the moderating effect of product types(hedonic vs. utilitarian). Participants were randomly assigned to a condition in 2(gift card type: restricted vs. unrestricted) x 2(product: hedonic vs. utilitarian) between design. The result showed that there was a significant interaction effect between gift card type and product type. Specifically, in hedonic product condition, those with restricted gift card showed higher satisfaction and happiness than those with unrestricted gift card. On the other hand, in utilitarian condition, there was no difference depending on the gift card type. This is consistent with our hypothesis that product type will moderate the effect of gift card types on choice satisfaction and happiness. Study 4 was conducted in order to verify the mediation effect of justifiability. The result shows that in hedonic product condition, justifiability mediates the relationship between gift cards and choice satisfaction and happiness. That is, restricted gift card increases the justifiability and its justification increases the happiness and satisfaction. In conclusion, the goal of this article is to examine how the gift card types influence the gift- receiver's choice satisfaction and happiness. Although unrestricted gift card outwardly seems to provide more positive influence to the receiver, our result suggests that restricted gift cards lead them to higher choice satisfaction and happiness rather than unrestricted gift cards. Also, justifiability mediated the relationship between gift cards and choice satisfaction and happiness. Based on this result, we suggest that gift card issuing companies need to facilitate restricted gift cards, especially for the business whose main products are hedonic products requiring justification. Additionally, we discuss theoretical and practical implications of the findings.