Analysis of Information Digestion Differences among Players in Online C2C Markets
By Jun Sashihara, Teruaki Hayashi
DOI https://doi.org/10.48550/arXiv.2503.20834
Abstract
In recent years, the magnitude of consumer-to-consumer (C2C) markets have grownsignificantly, highlighting the increasing significance of trust between buyersand sellers. However, the specific aspects of product information thatfacilitate effective communication and trust building in C2C markets remainpoorly understood. This study examines the concept of information digestion-theprocess through which information is accurately understood-and aims to elucidatedifferences in the information digestion processes of sellers and buyers toclarify the role of product page information. To address this, we conducted twoexperiments: a questionnaire survey involving 400 subjects and a conjointanalysis with eye-tracking for 15 participants. Initially, we selected eightsample products from four distinct product categories based on the Foote, Cone,and Belding (FCB) grid and compared the product information componentsconsidered important by sellers and buyers. Subsequently, we created 12 types ofproduct pages that varied in the combination of four attributes: title, price,product description, and image. Experiment 1 revealed significant differences inthe perceived importance of product page components between buyers and sellers.It also demonstrated that product categories and transaction experienceinfluenced the importance assigned to these components, particularly for buyers.Results from Experiment 2 showed that buyers prioritize product descriptions andidentified two distinct buyer groups based on their information digestionpatterns: one that carefully reads and digests information and another thatprocesses information more rapidly. These findings enhance our understanding oftrust-building mechanisms in online C2C markets and provide practical insightsfor platform designers and market participants.
Overview
The paper explores how buyers and sellers in consumer-to-consumer (C2C) online marketplaces (places where individuals sell products to one another) understand or “digest” the product information presented on product pages. Because trust is a key factor in these transactions, knowing which parts of a product page matter most can help build a better marketplace. The authors conducted two experiments—a large-scale questionnaire survey and a detailed eye-tracking study—to compare how buyers and sellers process product information.
Key Sections
1. Abstract
Purpose:
The study focuses on “information digestion,” which is the process of correctly understanding information after it is received. It examines whether buyers and sellers differ in which parts of a product page (like title, price, description, and image) they find most important.-
Methodology:
Experiment 1: A questionnaire survey with 400 participants, divided equally between buyers and sellers. Participants rated the importance of different product page elements.
Experiment 2: A conjoint analysis combined with eye-tracking on 15 buyers. Conjoint analysis is a statistical method used to understand how people value different features of a product. Eye-tracking helps to see where and how long buyers focus on parts of the page.
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Findings:
Buyers and sellers have different views on what information is most important.
Factors such as product category and previous transaction experience influence how buyers prioritize these components.
Among buyers, the product description stands out as the most important element.
Two distinct groups of buyers were identified: one that reads and processes information carefully and another that makes quicker, less detailed judgments.
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Implications:
These findings provide practical insights for designing better C2C platforms and improving the trust between buyers and sellers by tailoring the presentation of product information.
2. Introduction
Context and Motivation:
With the rapid growth of online C2C marketplaces (like Japan’s Mercari), there is a need to understand how product information is communicated and digested. Effective communication can improve trust, which is essential for successful transactions.-
Challenges Addressed:
Information Overload: With too much information available, buyers might miss key details or be overwhelmed.
Mismatched Priorities: Sellers and buyers might not agree on which pieces of information are most useful, leading to miscommunication.
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Research Questions:
The study sets out to answer three main questions:- Do buyers and sellers digest information differently?
- How do factors like product type and transaction history affect this process?
- What are the unique characteristics of how buyers digest product information?
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Approach:
To answer these questions, the paper uses both survey data (to understand perceived importance) and behavioral data (from eye-tracking) to capture how buyers actually interact with product pages.
3. Methodology and Experiments
Experiment 1: Questionnaire Survey
Participants:
400 individuals in their 20s (200 buyers and 200 sellers), chosen because they regularly use C2C marketplaces.Procedure:
Participants were shown example product pages from eight different product categories. These categories were chosen based on the Foote, Cone, and Belding (FCB) grid—a model that groups products based on how emotionally or cognitively (thinking) they are evaluated. For instance, high-involvement thinking products like smartphones require detailed research before purchase, whereas low-involvement feeling products, such as wine, might be bought more impulsively.Analysis:
The researchers used statistical methods including the Mann-Whitney U test (to compare differences between two groups without assuming a normal distribution) and the Aligned Rank Transform test (to explore effects of different factors like product category and previous transaction experience).
Experiment 2: Conjoint Analysis and Eye-Tracking
Participants:
A smaller group of 15 buyers participated, with one participant later excluded due to inconsistent responses.Procedure:
Participants evaluated 12 different product pages that varied in four key elements: title, price, description, and image. While they rated the pages, an eye-tracker recorded where they looked and for how long. This helps to understand which parts of the page capture attention and are processed more deeply.Conjoint Analysis:
This method allowed the authors to determine the relative importance of each page component on buyers’ perceptions. For example, if most buyers spent more time reading the description, this attribute was statistically shown to be the most influential in the decision-making process.
4. Findings and Discussion
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Differences Between Buyers and Sellers:
Sellers might focus on aspects that they believe are attractive (like a catchy title or attractive images), while buyers look for detailed information, especially descriptions that help them understand the product’s true condition.
Transaction experience also affects these priorities; for instance, buyers with more experience might know to pay extra attention to certain details that less experienced buyers might overlook.
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Buyer Segmentation:
The study found two main groups among buyers:- Careful Readers: Those who take time to process and verify all the information on the product page.
- Quick Processors: Those who make faster judgments, likely relying on a few key elements rather than the full set of information.
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Practical Implications:
- For Platform Designers: Enhancing product pages by emphasizing detailed descriptions and ensuring critical information is easy to find can build trust.
- For Sellers: Understanding that buyers value detailed descriptions may lead sellers to adjust how they present information, which in turn can improve sales outcomes.
- For Buyers: Being aware of different processing styles can help buyers understand their own decision-making and possibly adopt strategies to avoid information overload.
5. Conclusion
While the paper’s full conclusion section is not detailed in the provided text, the overall findings can be summarized as follows:
Enhanced Understanding of Trust:
By highlighting the differences in how buyers and sellers digest information, the study offers insights into building trust in online C2C markets. Clear, well-organized, and detailed product pages are crucial.Tailored Communication:
The identification of different buyer types (careful versus quick processors) suggests that one-size-fits-all solutions may not work. Marketplaces may need to consider adaptive interfaces that cater to diverse buyer behaviors.Future Directions:
The research opens up possibilities for further studies on how other elements (like seller reputation or additional multimedia content) might affect trust and information processing. It also encourages platform designers to integrate features such as adaptive content displays based on user behavior patterns.
Technical Terms Explained
Information Digestion:
The process by which a person receives, interprets, and understands information. For example, when you read a product description, “digestion” refers to how well you grasp the product’s details and features.Conjoint Analysis:
A statistical method used to determine how people value different attributes that make up an individual product or service. Think of it like breaking down a pizza into its ingredients (cheese, crust, toppings) and figuring out which one is most important to your enjoyment.Eye-Tracking:
A technology that measures where and how long a person looks at different areas on a screen. In this study, it helps to reveal which parts of the product page attract the most attention.Mann-Whitney U Test:
A nonparametric statistical test used to compare differences between two independent groups when the data does not follow a normal distribution. It’s a way of saying “let’s compare these two groups without assuming they behave in a typical pattern.”Aligned Rank Transform (ART) Test:
A method similar to analysis of variance that works with non-normally distributed data, allowing the researchers to see how multiple factors (like product category and user experience) interact with each other.
Final Thoughts
The study provides actionable insights for both marketplace platforms and their users. By identifying the key elements that influence how information is digested—especially the high importance of product descriptions for buyers—the research points toward a need for clearer, more detailed, and better-organized product pages. These adjustments could enhance trust and efficiency in online transactions, ultimately benefiting all participants in the C2C market.