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Financial services industry is increasingly showing interest in automated financial advisors, or robo-advisors, with the aim of democratizing access to financial advice and stimulating investment behavior among populations that were previously less active and less served. However, the extent to which consumers trust this technology influences the adoption of rob-advisors. The resemblance to a human, or anthropomorphism, can provide a sense of social presence and increase trust.

In this paper, we conduct an experiment (N = 223) to test the effect of anthropomorphism (low vs medium vs high) and gender (male vs female) of the robo-advisor on social presence. This perception, in turn, enables consumers to evaluate personality characteristics of the robo-advisor, such as competence, warmth, and persuasiveness, all of which are related to trust in the robo-advisor. We separately conduct an experimental study (N = 206) testing the effect of gender neutrality on consumer responses to robo-advisory anthropomorphism.

Our results show that consumers prefer human-alike robo-advisors over machinelike or humanoid robo-advisors. This preference is only observed for male robo-advisors and is explained by perceived competence and perceived persuasiveness. Furthermore, highlighting gender neutrality undermines the positive effect of robo-advisor anthropomorphism on trust.

We contribute to the body of knowledge on robo-advisor design by showing the effect of robot’s anthropomorphism and gender on consumer perceptions and trust. Consequently, we offer insightful recommendations to promote the adoption of robo-advisory services in the financial sector.

The freemium pricing model is dominant in digital products such as mobile applications. While limited evaluation of a product such as when a consumer is under time pressure, has been found to increase consumer preference for the free version (“the zero price effect”), this paper aims to explore moderators that attenuate or reverse that effect.

Three experiments test the role of anchoring effects induced by time pressure in moderating the zero price effect.

The studies offer evidence that anchoring effects induced by time pressure can be directed to reduce preference for free versions of products. In addition, these effects are mediated by the perceived performance risk of a product and an upper boundary condition for monetary price level is found.

This research demonstrates exceptions to time pressure’s role in intensifying the zero price effect. Future research could focus on additional moderators of the effect such as the need for certainty and examine time pressure’s effect on in-app purchases.

These findings can be directly applied by marketers of digital products using a freemium pricing model who wants to use time pressure to create urgency with customers without pushing them toward the free version of a product.

This paper finds exceptions to the zero price effect where consumers exhibit a stronger preference for the paid (vs free) version of a product when under time pressure.

Augmented reality (AR) apps offer a great opportunity for brands to provide better service to customers by creating augmented customer service. However, not every AR app is equally effective in improving customer experience. Investigation of underlying processes and brand-related outcomes of AR marketing remains scarce and it is unclear how different types of AR apps influence brand perceptions, such as brand personality. This paper aims to fill in this knowledge gap and provide practical insights on how different AR apps can improve service brand personality.

Using an experimental plan, the authors investigate how attitudes towards AR apps contribute to customer perceptions of brand personality (i.e. excitement, sincerity, competence and sophistication) according to two different variables, namely, the location of the AR app (location-specific vs non-location-specific) and its orientation (augmenting the product, brand or store experience). The authors also examine the effect of expected customer experience with the AR app (i.e. playfulness and pleasure) and customer technological innovativeness and shopping orientation as predictors of attitudes towards the AR app.

The findings show that non-location-specific and product-oriented AR apps (i.e. virtual try-on apps) receive more positive evaluations and lead consumers to perceive the brand as more exciting, sincere, competent and sophisticated. Moreover, the playfulness and pleasure experienced with the AR app determine consumers’ attitudes towards the app. Additionally, AR apps improve brand personality perceptions amongst more innovative and adventure-focussed shoppers.

The authors show that brand announcements on high-technology, customer-oriented service offerings are an effective branding tool. Thus, AR apps perceived as pleasant and playful can signal and improve brand personality.