TY - JOUR
T1 - When fashion meets crowdfunding
T2 - exploring sustainable and innovative features of online campaigns
AU - Dalla Chiesa, Carolina
AU - Pavlova, Alina
AU - Lavanga, Mariangela
AU - Pysana, Nadiya
N1 - Publisher Copyright:
© 2022, Carolina Dalla Chiesa, Alina Pavlova, Mariangela Lavanga and Nadiya Pysana.
PY - 2022/3/2
Y1 - 2022/3/2
N2 - Purpose: This paper analyses the factors that make fashion-product crowdfunding campaigns successful. The authors argue that crowdfunding is an innovative and functional way of bringing new fashion items to the market. The purpose of this paper is to answer the question whether product innovation, lifecycle and sustainability have a positive effect on the success of fashion crowdfunding campaigns. The findings highlight that the success of the fashion crowdfunding campaigns depends on creators' adherence to the values of the platform which they use to raise capital. Design/methodology/approach: A total of 300 fashion crowdfunding projects running between the 17th of October and the 15th of December 2017 were collected from Kickstarter – the world's largest crowdfunding platform based on reward-based all-or-nothing model. Two-step binomial logistic regression was used to analyse the data. Findings: The model predicted a significant increase in the odds of success for the fashion items crowdfunded during the first-time production, and innovative and environmentally sustainable products with a higher price range of rewards. In line with previous literature, regression analyses predicted a significant effect of the control variables of goal amount (negative) and the number of rewards (positive). Contrary to previous studies, neither the presence of a video nor the campaign length predicted success. Originality/value: The novel findings of this study contribute to the literature by providing an analysis of success factors of fashion items on crowdfunding platforms. The results show that innovative, environmentally sustainable and higher-priced products produced by early-stage ventures are better welcomed by the audiences.
AB - Purpose: This paper analyses the factors that make fashion-product crowdfunding campaigns successful. The authors argue that crowdfunding is an innovative and functional way of bringing new fashion items to the market. The purpose of this paper is to answer the question whether product innovation, lifecycle and sustainability have a positive effect on the success of fashion crowdfunding campaigns. The findings highlight that the success of the fashion crowdfunding campaigns depends on creators' adherence to the values of the platform which they use to raise capital. Design/methodology/approach: A total of 300 fashion crowdfunding projects running between the 17th of October and the 15th of December 2017 were collected from Kickstarter – the world's largest crowdfunding platform based on reward-based all-or-nothing model. Two-step binomial logistic regression was used to analyse the data. Findings: The model predicted a significant increase in the odds of success for the fashion items crowdfunded during the first-time production, and innovative and environmentally sustainable products with a higher price range of rewards. In line with previous literature, regression analyses predicted a significant effect of the control variables of goal amount (negative) and the number of rewards (positive). Contrary to previous studies, neither the presence of a video nor the campaign length predicted success. Originality/value: The novel findings of this study contribute to the literature by providing an analysis of success factors of fashion items on crowdfunding platforms. The results show that innovative, environmentally sustainable and higher-priced products produced by early-stage ventures are better welcomed by the audiences.
UR - http://www.scopus.com/inward/record.url?scp=85125435437&partnerID=8YFLogxK
U2 - 10.1108/JFMM-03-2021-0068
DO - 10.1108/JFMM-03-2021-0068
M3 - Article
AN - SCOPUS:85125435437
SN - 1361-2026
SP - 1
EP - 21
JO - Journal of Fashion Marketing and Management
JF - Journal of Fashion Marketing and Management
ER -