International Journal of Business Forecasting and Marketing Intelligence (33 papers in press)

Regular Issues

• Automatic Laptop Purchase System Based on Case Base Reasoning Technique  
  by Aman Tyagi, Namit Khanduja 
  Abstract: Laptop market is booming once again. Demand of laptops is increasing very fast due to COVID-19 pandemic and lockdowns at many places. Moreover, trend for work from home, online classes and e-business are very common these days. People in many underdeveloped/developing countries are facing the problem in selecting new laptop due to lack of technical knowledge. The problem is more complex because of lot of varieties/brands are available in the market. There is a need of extensive research in this area. In the present work, a case base reasoning (CBR) method is proposed to address the problem of customers to select suitable laptop according to their requirements within their budget. CBR methodology helps in decision making of selection of laptop automatically. Two methods are also developed to update the recent technologies model in the database and also store the feedback from customers about their previous laptops.
  Keywords: case base reasoning; CBR system; decision support system; knowledge base; laptop purchase decision.
  DOI: 10.1504/IJBFMI.2023.10060661
   
  
• A Historical and Bibliometric Analysis of the Current Landscape and Future Prospects of Financial Inclusion  
  by Varun Kesavan, Sakthi Srinivasan K 
  Abstract: 'Financial inclusion' refers to the provision of such services at a low cost and in a timely manner, especially for low-income and other marginalised individuals who lack even the most fundamental banking services. This study aims to determine how much research has been conducted on the topic of financial inclusion. This study aims to conduct the first systematic review of financial inclusion studies. In this investigation, open access research is also assessed. The selected Scopus articles were published between 2010 and 2022. The initial search yielded 3,382 publications; however, only 1,898 were included in the analysis. For bibliometric analysis, we utilise Biblioshiny R Studio. Throughout the course of history, there has been an upward trend in the rate of publication. The USA, China and India would all benefit substantially from this development. Numerous studies have focused on financial inclusion, banking in India, and other aspects of the Indian economy. This research on carbon emissions, the financial system, finance, financial inclusion, and financial services aims to address knowledge voids, organise key issues, contribute to the existing literature, and lay the foundation for future researchers.
  Keywords: financial inclusion; financial exclusion; bibliometric analysis; Bibliometrix; science mapping; Scopus database.
  DOI: 10.1504/IJBFMI.2023.10060719
   
  
• OpenAI: A PESTLE Analysis of Factors Influencing ChatGPT's Business Growth  
  by Priyanka Bhaskar, Neha Seth 
  Abstract: The generative pre-trained transformer is a large language model developed by OpenAI (San Francisco, California). ChatGPT is an advanced AI-powered chatbot that was educated using a massive database of human conversations. OpenAI's founders recognised the potential for AI to benefit society but were aware of the potential risks. ChatGPT offers transformative potential since it combines two state-of-the-art AI and NLP technologies. OpenAI investigates more areas of AI and experiments with more approaches to AI development. PESTLE analysis is a high-level method for considering potential influences on ChatGPT. OpenAI faces risks from various sources due to its global scope, including political, economic, social, technological, legal, and environmental. OpenAI is a research facility to maximise the positive effects of AI while minimising its negative ones. It has expanded the availability of AI, and pushed the technology's boundaries while emphasising its potential for good in the world.
  Keywords: OpenAI; ChatGPT; PESTLE; organisation; external factors; artificial intelligence.
  DOI: 10.1504/IJBFMI.2023.10061641
   
  
• Investigating after-sales service, customer satisfaction and word of mouth nexus: evidence from a branded car dealership  
  by Shem Sikombe 
  Abstract: The study investigates after-sales service, customer satisfaction and word-of-mouth relationships using evidence from a branded car dealership. The study used a cross-sectional and structured questionnaire design to collect data from the branded car dealership customers. Seventy-seven questionnaires were successfully retained and analysed from customers in different locations. Hierarchical regression analysis and mediation analysis using the Hayes bootstrapping procedure was used. Results reveal a significant and positive relationship between maintenance facilities and customer satisfaction. Furthermore, a positive and significant relationship exists between warranty and customer satisfaction. However, the quality of spares has no significant relationship with customer satisfaction. The results also show that maintenance facilities are the major contributor to customer satisfaction at the branded car dealership. Additionally, results show that customer satisfaction mediates the relationship between the availability of maintenance facilities, warranties, quality of spares and word-of-mouth. Sales managers can utilise the findings to improve their competitiveness.
  Keywords: after-sales service; customer satisfaction; word-of-mouth; branded car dealership.
  DOI: 10.1504/IJBFMI.2023.10061668
   
  
• Consumer purchase behaviour in electronic commerce: main barriers  
  by Guilherme Braz Pitta, Claudimar Pereira Da Veiga, Wesley Vieira Da Silva, Su Zhaohui 
  Abstract: Several studies have been conducted on consumer purchase behaviour in electronic commerce. Most of these studies have attempted to identify factors influencing purchase behaviour and intentions in electronic commerce. However, with a growing number of consumers making purchases in electronic commerce, many people have not shopped in this online market due to uncertainties and perceived risks associated with online purchase transactions. This article seeks to identify the main barriers preventing consumers from making electronic commerce purchases and why they continue to resist this new technology. The collected data (n = 978) were analysed using structural equation modelling (SEM), demonstrating the importance of trust and perceived risk in deciding whether to buy electronic commerce. The results of this study are expected to help retailers’ direct strategies to lower the main barriers that can affect the decision-making of potential consumers.
  Keywords: e-commerce; barriers; electronic commerce purchase; non-shoppers; consumer behaviour; marketing intelligence; business retailing.
  DOI: 10.1504/IJBFMI.2023.10061729
   
  
• The Study of Perceived Severity of COVID-19 on Online Impulsive Buying Behaviour in Vietnam: the Role of Internal Factors  
  by Thanh Binh Phung, Ha Nguyen Thi Thanh, My Van Ly, Hong Nhung Nguyen Thi, Phuong Anh Nguyen, Manh Ha Dao 
  Abstract: Internal factors have been shown as important factors that affect online impulsive buying behaviour, especially when COVID-19 shifted shopping habits and caused a change in their minds. This study provides profound insight into the influence of the perceived severity of COVID-19 and enhances the internal factors affecting online impulsive buying behaviour. The perceived severity of COVID-19 during the pandemic caused a rise in monotony and sensation-seeking expressions, making online buying activities after the epidemic more appealing. The result showed that internal factors such as the perceived severity of COVID-19, stress, boredom, materialism, hedonic motivation, and sensation-seeking play a significant role in online impulsive buying behaviour. In contrast, there was no association between stress and browsing, perceived severity of COVID-19, and materialism.
  Keywords: internal factors; impulsive buying; perceived severity; COVID-19; Vietnam.
  DOI: 10.1504/IJBFMI.2024.10062906
   
  
• Case Study of Global Apparel Companies: How Some Are Adjusting their Supply Chain Strategies to Post-COVID-19  
  by Alan D. Smith  
  Abstract: This research effort examined two retail companies, American Eagle and Duluth Trading Company, with two unique approaches to their supply chain management models. A consumer survey and analysis associated with the appeal industry in the same area (NS Ohio and Western PA) was completed. While the approaches may be different, similarities are shared between the two companies in relation to their supply chain automatisation. Optimising technology and automating processes while delivering resources and materials to supply final goods to its customers is a top priority. The competitive and demographic threats that these two companies are facing as they continue to find a sustainable model competing with other top-technological performers in the retail industry are real and compelling. The companies have gone through COVID-19 and have had to review processes in place to be able to overcome business closures and shutdowns.
  Keywords: apparel industry; COVID-19; INCOTERMS; next-day delivery; omnichannel; supply chain management; SCM.
  DOI: 10.1504/IJBFMI.2024.10063159
   
  
• Interplay of Digital Trust Alliance, Entrepreneurial orientation and Use of digital payments: Digital Shift of Rural MSMEs to Survive Covid-19  
  by Dr. Harleen Kaur, Priya Devi 
  Abstract: Through the lens of digital trust alliance and entrepreneurial orientation, this paper investigates the usage of digital payments among rural MSMEs during COVID-19 pandemic. Quantitative data were collected through survey from owners and managers of various micro, small and medium-sized enterprises across different industrial sectors. The study contributes to the survival of MSMEs using digital strategy during crisis. Digital trust alliance emerges as a significant element in usage of digital payments. It has been discovered that entrepreneurial orientation amplifies the ability of MSMEs to endure significant disruptions in business environment. The originality of the paper lies in the establishment of the moderating role of entrepreneurial orientation between the independent variable (digital trust alliance) and dependent variable (usage of digital payments). Additionally, it is one of a few studies looking into rural MSMEs digital shift to survive COVID-19 in India.
  Keywords: digital payments; digital transformation; COVID-19; MSMEs; entrepreneurial orientation.
  DOI: 10.1504/IJBFMI.2024.10063620
   
  
• Barriers in reusage and adoption of Pradhan Mantri Ujjwala Yojana  
  by Sukhvinder Angoori, SANJEEV KUMAR 
  Abstract: Pradhan Mantri Ujjwala Yojana is a significant government intervention in India for the cooking energy transition. The program was aimed to safeguard woman from different hazards associated with the use of TCF, whether it is related to their health, economies, or social well-being. The scheme provided the LPG connection to poor households with free or minimal costs. However, after receiving the LPG connection, the women continuously use TCF. The paper aims to identify the factors forcing women to use TCF. The paper finds that the easy access, price, and amount of usage of TCF and LPG, cooking practices, and food types of rural households discourage the adoption of LPG as a main fuel in rural India.
  Keywords: adoption; barriers; health; LPG; Pradhan Mantri Ujjwala Yojana; PMUY; rural; traditional cooking fuel; TCF; women.
  DOI: 10.1504/IJBFMI.2024.10063757
   
  
• Unveiling Trends and Opportunities: A Bibliometric Analysis of Stock Market Research  
  by Norasyikin Abdullah Fahami, Mohd Faizal Basri 
  Abstract: This study highlights the current trends, main areas, keywords, and opportunities for future research in the field of stock market research. Bibliometric analysis using Harzing's Publish and Perish (PoP) software and VOSviewer was used to analyse a sample of 6,426 studies from the Scopus database between 2018 and 2022. This study identifies prominent authors and articles by evaluating their citations, publications, geographical locations, and importance within the network. The authors also analysed keywords and co-occurrences to identify the top keywords and their associations, current topics, current state of collaboration, and areas for further research. Although research on the stock market is global, cross-national collaboration is lacking, particularly among authors from different regions and nations. Considering academic interest in the stock market, this study concludes by suggesting new keywords and possible research questions that should be explored in future studies.
  Keywords: bibliometric; VOSviewer; Harzing's Publish and Perish; Scopus; trends; opportunities; stock market; keywords; theme; future research.
  DOI: 10.1504/IJBFMI.2024.10064336
   
  
• An Exploratory Study of Various Factors Influencing Customer Behaviour towards Apparel E-Commerce in Pakistan  
  by Muhammad Umer Chaudhry, Syed Shoaib Nazir 
  Abstract: This study investigated the interplay between customer behaviour, attitudes toward e-commerce and apparel e-commerce, and brand image in Pakistan's apparel e-commerce sector. Using a survey of 466 Pakistani apparel online shoppers, with equal gender representation, the research explored factors influencing customer behaviour, with customer attitude and brand image as independent variables and behaviour as dependent. Statistical analyses confirmed significant positive relationships between customer attitude toward e-commerce and apparel e-commerce, brand image, and customer behaviour. Findings suggest that favourable e-commerce attitudes and positive brand perceptions enhance customer behaviour in apparel e-commerce. Additionally, demographic attributes were found to influence customer behaviour and attitudes. This underscores the importance of understanding both consumer perceptions and demographic factors in shaping strategies within the apparel e-commerce market in Pakistan.
  Keywords: apparel e-commerce; customer-behaviour; CB; customer-attitude; CA; brand-image; BI; Pakistan.
  DOI: 10.1504/IJBFMI.2024.10064421
   
  
• Perceptual Benchmarking Study of Personal Water Conservation and its Global Crisis within a Healthcare Environment  
  by Alan D. Smith  
  Abstract: Droughts and lack of quality water supplies have become a worldwide phenomenon that has been accelerating within the last 50+ years. This crisis has created unusable grey water and greatly reduced needed water supplies for consumption and sanitation. It has become a global healthcare policy problem that must be solved. This research outlines the growing number of the population that is experiencing a shortage of potable water and analyses methods for reducing the severity of this problem. Based on an analysis of primarily a sample of the Great Lakes' population (n = 580), motivation concerning water conservation and water scarcity were examined. Each age group and gender were analysed and three hypotheses were tested to determine if these relationships among conservation variables were statistically significant. Unfortunately, most were not actively involved, just installing water-conserving fixtures in their home by a function of age, females and more educated are most concerned.
  Keywords: cognitive dissonance theory; grey water; personal healthcare; pollution; water conservation; water infrastructure; water shortage.
  DOI: 10.1504/IJBFMI.2024.10064706
   
  
• Role of Traditional and Online Advertisement in Building Brand Equity: A Study on Selected Household Appliances  
  by Tanushree Banerjee 
  Abstract: The role of marketing communications, especially advertisement in brand development is a widely researched area. In today's marketing landscape there is a growing preference for internet and technology based advertising, yet traditional methods retain significance. This study aims to compare the impact of traditional and digital advertisements on brand equity and its dimensions based on Aaker's model. Focussed on consumer durable segment, data from 227 consumers was analysed using structural equation modelling (SEM). Results showed both forms of advertising positively influenced brand equity dimensions with traditional ads notably impacting brand perceived quality. This reaffirms the enduring importance of traditional advertising despite evolving communication trends. Additionally findings support the applicability of Aaker's brand equity model (1992) particularly in consumer durable segment. While all four brand equity constructs were not equally influential, brand association, brand loyalty and perceived quality significantly contribute to brand equity, aiding marketers in understanding their respective roles in brand building.
  Keywords: brand equity; brand awareness; brand loyalty; perceived quality; brand associations; traditional ads; digital ads.
  DOI: 10.1504/IJBFMI.2024.10064718
   
  
• Online Environmental Influencers and Pro-Environmental Purchase Intentions: Examining the Interplay of Green Brand Attitude and Green Brand Associations in Green Fast-Moving Consumer Goods  
  by Pearl Fafa Bansah, Vanessa Gaffar, Disman Disman, A.Y.U. Krishna Yuliawati 
  Abstract: This study investigates the influence of online green influencers on pro-environmental purchase intentions and the mediating effects of green brand attitudes and associations of green fast-moving consumer goods in Ghana (FMCG). We examined the data collected using questionnaires from a diverse sample of 649 participants. Structural equation modelling was used to analyse the empirical data. We found that online green influencers exert a significant effect on the pro-environmental purchase intentions of FMCG consumers. We establish that the relationship between online green influencers and pro-environmental purchasing intentions is mediated by green brand attitude. In addition, we established that online green influencers have an indirect impact on pro-environmental purchasing intentions through the cultivation of a positive attitude towards green brands rather than through the establishment of associations with green brands. Leveraging online green influencers, building strong brand associations with sustainability, and cultivating positive brand attitudes enhance pro-environmental purchase intentions.
  Keywords: online green influencers; green brand attitude; green brand associations; pro-environmental purchase intentions; structural equation model.
  DOI: 10.1504/IJBFMI.2024.10064999
   
  
• Exploring Sectoral Profitability in the Indian Stock Market Using Deep Learning  
  by Jaydip Sen, Hetvi Waghela, Sneha Rakshit 
  Abstract: This paper explores using a deep learning long short-term memory (LSTM) model for accurate stock price prediction and its implications for portfolio design. Despite the efficient market hypothesis suggesting that predicting stock prices is impossible, recent research has shown the potential of advanced algorithms and predictive models. The study builds upon existing literature on stock price prediction methods, emphasising the shift toward machine learning and deep learning approaches. Using historical stock prices of 180 stocks across 18 sectors listed on the NSE, India, the LSTM model predicts future prices. These predictions guide buy/sell decisions for each stock and analyse sector profitability. The study's main contributions are threefold: introducing an optimised LSTM model for robust portfolio design, utilising LSTM predictions for buy/sell transactions, and insights into sector profitability and volatility. Results demonstrate the efficacy of the LSTM model in accurately predicting stock prices and informing investment decisions. By comparing sector profitability and prediction accuracy, the work provides valuable insights into the dynamics of the current financial markets in India.
  Keywords: deep learning; long short-term memory; LSTM; network; return; sectoral portfolio; return; risk; India.
  DOI: 10.1504/IJBFMI.2024.10065378
   
  
• Beyond the Bling: Demystifying the Surge in India's Gold ETF Market  
  by Saket Ranjan Praveer, Baba Gnanakumar, M.K. Baby 
  Abstract: This research investigates the surge in demand for Gold Exchange Traded Funds (ETFs) in India compared to physical gold between April 2019 and October 2023. It aims to identify the factors driving this shift, focusing on investor sentiment, risk-return profiles, and market trends. The study employs a two-phase approach. First phase analyses the relationship between gold and Gold ETFs in terms of price and returns using Pearson correlation and Granger causality tests. Second phase assesses investor sentiment through sentiment analysis of reviews from investment forums. Data is collected for gold prices, returns, Gold ETF prices, returns, and investor sentiment from April 2019 to October 2023. The analysis focuses on seven Gold ETFs with exponential growth: HDFC, ICICI, LIC, NIPPON, SBI, UTI, and KOTAK. The research findings provide valuable insights into the dynamics of investment surges and their implications for market participants.
  Keywords: Gold ETFs; investment surge; investor sentiment; gold price; Granger causality; India.
  DOI: 10.1504/IJBFMI.2024.10065418
   
  
• Examining the Growth of Online Sales and Disintermediation in the Real-Estate Marketplace  
  by Alan D. Smith, Anna Abdulmanova, Heather Elfen 
  Abstract: The real-estate business, like many other business models, has been affected by the evolution of e-commerce as this information-rich industry lends itself to the many applications of technology. This research effort focuses on the real-estate market and consumers' perceptions of its effectiveness and accessibility. A sample of 1,736 relatively well-educated respondents in the Great Lakes region was used to study preferences in their search for housing. With a lot of housing information readily available to consumers, respondents found the role of real-estate agents to be unimportant. This evidence suggests that advancements in technology could lead to industry disintermediation. Additionally, factor-based profiles of housing search preferences and respondents' genders were created.
  Keywords: disintermediation; e-commerce; factor analysis; online marketing; real-estate marketing; search engines; supply chain management; SCM.
  DOI: 10.1504/IJBFMI.2024.10065533
   
  
• Ecotourism and Sustainable Development in Tourism Marketing  
  by Alexandre Cesar Rosa, Sandro Deretti, Claudimar Pereira Da Veiga 
  Abstract: While tourism marketing has been extensively explored in the literature due to its significant socio-economic impact worldwide, this study examines the integration of ecotourism with sustainable practices within tourism marketing. We explore the dynamic relationship between tourism and sustainable development through a systematic literature review (SLR) conducted over the past 22 years. The primary objective is to synthesise academic discussions, focusing on how ecotourism is intertwined with sustainable marketing strategies and the resulting socio-economic and environmental impacts. The results reveal substantial thematic coherence across the literature, emphasising the enhancement of local communities, mitigation of environmental impacts, and advancement toward global sustainability goals. The findings provide key insights and practical recommendations, particularly for policymakers and industry stakeholders, aiming to develop effective strategies and public policies that promote sustainable growth in tourism by leveraging ecotourism practices.
  Keywords: sustainable development goals; SDGs; ecotourism marketing; sustainable tourism strategy; tourism demand forecasting; ecotourism impact; environmental sustainability; economic development in tourism.
  DOI: 10.1504/IJBFMI.2024.10065677
   
  
• Is Semiotics Capable of Improving Advertising Effectiveness for Gen.Z?  
  by Rajesh Srivastava, Sandeep Bhanot 
  Abstract: It is qualitative research involving NVIVO software and a word cloud followed by quantitative research involving primary research. Our study examines the impact of semiotics exhibited in TV advertisements on viewers like Gen Z as they are emerging a big market for consumer products. It was found that brand recall was influenced by trust in the brand if it was targeted at Gen Z. As a result of incorporating semiotics into the advertisement, it will enhance mood and emotion, and will likely be influenced by cultural values as a background, followed by music and jingles, dialogue choices, signs, and symbols if it is aimed at Gen Z in emerging markets like India. The results of this study provide marketers with practical guidelines for designing advertisements using semiotics that appeal to Gen Z of different ages and genders. This research study adds value to existing literature in Indian advertising using semiotics. The influence of television advertising using semiotics on Gen Z in their brand recall and purchase intentions in emerging markets is an important contribution, as they are the main target consumers for global brands.
  Keywords: semiotics; cultural values; emotion and mood; music and jingle; brand recall.
  DOI: 10.1504/IJBFMI.2024.10066279
   
  
• SMEs continuing intentions using mobile payments: an extension of the expectation confirmation model  
  by Anna Widayani, Ika Rachmawati, Nilawati Fiernaningsih, Pudji Herijanto 
  Abstract: The surge in smartphone ownership across Indonesia has propelled the widespread adoption of mobile payment technology, significantly impacting the digital economy landscape. Despite this upward trend, challenges persist in shifting consumer and merchant behaviour toward digital payment methods. In East Java, micro and small enterprises (MSE) encounter barriers such as technological uncertainties, security apprehensions, and a limited understanding of the advantages offered. Consequently, further investigation is imperative to comprehend MSEs’ adoption behaviour concerning mobile payments and formulate more productive strategies to bolster adoption rates and usage among MSEs. This study, encompassing 400 MSE proprietors in East Java, utilised the SEM-PLS analytical approach to assess the influence of confirmation, perceived usefulness, and satisfaction on the sustained intention to use mobile payments. Findings underscored the significant and affirmative impact of confirmation, perceived usefulness, and satisfaction on the prolonged intention to engage with mobile payment platforms.
  Keywords: continuous intentions; satisfaction; perceived usefulness; confirmation; SME; mobile payment; micro and small enterprises; MSE.
  DOI: 10.1504/IJBFMI.2024.10066523
   
  
• Antecedents of Loyalty in Business-to-Business Electronic Commerce  
  by Claudimar Pereira Da Veiga, Cássia Rita Pereira Da Veiga, Leandro Ferreira, Su Zhaohui 
  Abstract: This study conducts a systematic literature review (SLR) to analyse the antecedents of loyalty in business-to-business electronic commerce (eB2B). The research explores how relationship quality, trust, satisfaction, and service touchpoints contribute to developing and sustaining customer loyalty from both buyer and seller perspectives. Utilising the SPAR-4-SLR protocol, the review follows three stages: assembling studies from Web of Science and Scopus (20052023). The findings reveal a significant shift in eB2B marketing from transactional exchanges to behavioural interactions that foster loyalty, highlighting the crucial roles of relationship quality, trust, satisfaction, and comprehensive service touchpoints. This SLR provides the first extensive synthesis of loyalty mechanisms in eB2B, offering actionable insights for marketers and managers. It underscores the importance of integrating marketing intelligence and innovative methodologies in business forecasting, aligning with contemporary practices and theories to enhance strategic decision-making and contribute to sustainable business growth.
  Keywords: business intelligence; industrial marketing; business-to-business; buyer-seller interaction; buyer-seller relations; e-commerce; loyalty.
  DOI: 10.1504/IJBFMI.2024.10066687
   
  
• Do Customer Demographics have any Relationship with the Customer Engagement Construct?  
  by Uday Bhale 
  Abstract: This research attempted to study the factors affecting customer engagement and their demographic association in study telecom industry. The research objectives for the given study are: 1) to find the different types of customer engagement service channels in telecom; 2) to study the association of customer engagement with customer demographics. 1,600 customers have been selected for the current study with a quota-based purposive sampling method from India. To perform data analysis the sample is split into eight hundred each with similar characteristics. EFA is used to form the construct from the first set of samples. Another eight hundred sets of samples are used for CFA to confirm the factors. To test the association between customer engagements with demographics chi-square test is used.
  Keywords: customer engagement; demographic association; telecom.
  DOI: 10.1504/IJBFMI.2024.10066701
   
  
• E-Marketplace and Jewellery Shopping: A Digital Lens perspective  
  by Jeevana Kalla, Chetna Sarma 
  Abstract: This systematic literature review examines the current state of online jewellery shopping in India, focusing on research conducted in the last decade. The study reveals a growing trend in online jewellery shopping, with consumers prioritising comfort over safety. To enhance the online shopping experience, retailers must provide detailed product descriptions, high-quality images, and user-friendly return policies. Additionally, an intuitive website interface and emerging technologies such as virtual reality can further enrich the online retailing experience. The review highlights the importance of adapting to changing consumer expectations and technological advancements. Furthermore, the study suggests that emerging technologies like augmented reality and artificial intelligence could provide valuable insights into future developments in the field. This comprehensive overview of the online jewellery retailing sector in India provides valuable insights for retailers, policymakers, and researchers seeking to understand the trends and future directions of this growing market.
  Keywords: online shopping; e-commerce; jewellery shopping research; jewellery markets; consumer behaviour; digital marketing.
  DOI: 10.1504/IJBFMI.2024.10066916
   
  
• Tool for Operational Analysis of a DC Distribution Nanogrid using Business Intelligence Software  
  by André Costa, Arthur Fonseca, José FIlho, Ana Silva, João Machado, Marcos Galhardo, Wilson Macêdo 
  Abstract: Solar energy is a viable alternative for electricity access in remote communities in the legal Amazon. In recent years, thousands of stand-alone photovoltaic systems have been implemented through government programs such as the Brazilian national program for universal access to and use of electric energy light for all. However, there is limited information available about the operation of these systems. To study off-grid systems located in remote communities in this region, the present work aims to present the concepts for developing and implementing a stratified data analysis tool using business intelligence (BI) for operational data collected in a stand-alone direct current nanogrid located in a riparian community on Ilha das On
  Keywords: business intelligence; BI; DC nanogrid; photovoltaic solar energy; data modelling.
  DOI: 10.1504/IJBFMI.2024.10067166
   
  
• Factors Influencing the Adoption of Airbnb among Ghanaians: a Study Moderated by Culture  
  by Acheampong Owusu, Paul Asante, Ivy Hawah Taana 
  Abstract: This study explores the factors influencing the adoption of Airbnb among Ghanaians and also examines the moderating effect of culture impacting the use of the service. A research framework was developed under the lens of the UTAUT model and Hofstede’s cultural dimensions for the study. Employing a qualitative method, primary data were collected from 17 participants through purposive sampling and analysed via thematic analysis. The findings indicate that performance expectancy, effort expectancy, and social influence had an impact on behavioural intention to use Airbnb; facilitating conditions also influence user behaviour to use the service. The findings further suggest that cultural dimensions (uncertainty avoidance, power distance, individualism/collectivism, and masculinity) moderated the influencing factors on behavioural intention. The findings thus inform managers of Airbnb to increase their effort to make it universally recognised in Ghana as it provides more convenient services to customers.
  Keywords: digital platforms; sharing economy; Airbnb; UTAUT; Hofstede’s cultural dimensions; qualitative method; Ghana.
  DOI: 10.1504/IJBFMI.2024.10067495
   
  
• Omni-Channel Marketing Approaches for Enhanced Consumer Engagement in Retail Businesses  
  by Naveen Kumar R., Neerupa C, Janani M. ., John William A 
  Abstract: In today's marketplace, businesses need to engage consumers across multiple touch points seamlessly. To address this challenge, omnichannel marketing has emerged as a strategic approach. It emphasizes the integration of various channels to deliver a cohesive brand experience. This approach is essential in our digitally interconnected world. This paper provides an overview of Omni Channel Marketing (OCM), a strategic approach that integrates online and offline channels to enhance consumer engagement and brand loyalty. E-commerce is driven by AI and social media. COVID-19 accelerated OCM. Branding and digital capabilities are important. Digital technology impacts physical and online channels. Consumer behavior in India needs innovative approaches. The KMO measure supports factor analysis but needs refinement. Significant correlations appear in Bartlett's test. Factors like digital touch points, personalization strategies, customer satisfaction, technology integration, customer journey mapping, and data analytics exhibit significant loadings. Factors 1 and 2 focus on digital touch points and personalization strategies, while Factors 3, 4, and 5 represent technology integration and customer journey mapping, providing insights for marketing strategies.
  Keywords: Omni-channel marketing; consumer engagement; brand loyalty; e-commerce surge; social media integration; and digital capabilities.
  DOI: 10.1504/IJBFMI.2024.10067579
   
  
• The Technological and Non-Technological Elements of Industry 4.0: a Bibliometric Study and a Theoretical Model  
  by Wagner Guedin, Pedro Henrique Sousa 
  Abstract: This research aims to review the fundamentals of Industry 4.0, its interface with technological and non-technological elements and investigate gaps in the research of Culot et al. (2020): current definitional ambiguity; the defining dimensions and sub-dimensions that characterise Industry 4.0 in technological and non-technological aspects; identification of the foundations of Industry 4.0. To respond to these gaps, we opted for a historical analysis through qualitative research, using bibliographic research as a method of analysing scientific production in the period from 2018 to 2023. Two-hundred forty-eight scientific articles were selected and analysed. As the main evidence of this bibliographical review, Germany's leading role in research, development of public policies and the vanguardism of companies and organisations stands out; the movement of Chinese and South Korean industry; the description of the elements of Industry 4.0; and the presentation of a theoretical model with 18 reference descriptive attributes for Industry 4.0.
  Keywords: Industry 4.0; Fourth Industrial Revolution; elements; attributes; historical-integrative review.
  DOI: 10.1504/IJBFMI.2024.10067645
   
  
• The Effects of Artificial Intelligence and Machine Learning in Consumer Behaviour, Demand Prediction and Chatbots in the realm of Digital Marketing  
  by Salma Akter, Md Azmol Fuad Talukder, Taj Ashrafi, Fahim Ahmed 
  Abstract: The principal objective of this study was to ascertain the potential digital marketing applications of artificial intelligence and machine learning. This study used a standardised questionnaire to collect data from 250 people. We used SPSS statistical analysis included ANOVA, correlation, paired t-test, and crosstab. The parameters we examined related to digital marketing are AI and ML generated consumer behaviour data, AI and ML for demand prediction in digital marketing, chatbots created by AI, and ML in digital marketing. This study reveals that the utilisation of Artificial Intelligence and Machine Learning in Digital Marketing is significantly influenced by consumer behaviour data collected through AI and ML techniques. The findings of this study can assist organisations worldwide in determining the most effective digital marketing strategies to attract buyers and successfully steer their businesses in a new direction. This research identifies techniques that influence the use of AI and ML in Digital Marketing.
  Keywords: Artificial Intelligence; Machine Learning; Digital Marketing; Demand Predictions; Chatbots; Consumer Behaviour.
  DOI: 10.1504/IJBFMI.2024.10068056
   
  
• Nearshoring and its potential impacts on the global supply chain: case study of retailing and manufacturing firms  
  by Alan D. Smith 
  Abstract: In recent years, a multitude of events have occurred to significantly test the resiliency of global supply chains. The largest impact were the effects and fallout of the COVID-19 pandemic which saw extreme variability introduced to all aspects of supply chain management including procurement, warehouse operations, transportation and sustainability initiatives. To best counteract potential foreseen and unforeseen circumstances, organisations have reevaluated their ideologies and examined how nearshoring operations can be advantageous to minimise challenges and perils to their business continuity. A scholarly examination of the principles surrounding nearshoring and its impacts on global supply chains. With context paid to two Pittsburgh, PA-area companies in the retail and manufacturing markets, practical application of these principles are examined with managerial implications addressed. Nearshoring will be recommended as an efficient route for companies to achieve streamlined operational approaches and their goals within while minimising their risk exposure and maximising perceived values.
  Keywords: business case study; information technology; IT; manufacturing; nearshoring; offshoring; onshoring; operations; retail marketing and services; supply chain management; SCM.
  DOI: 10.1504/IJBFMI.2025.10067620
   
  
• Study of consumers' buying pattern of dietary supplements  
  by Sohela Malik, Nidhi Tandon 
  Abstract: Today's competitive world forces an individual to live a stressful life which leads to no other option but to compromise with their healthy habits. So, in order to cope up with this situation, individuals are moving towards dietary supplements. Dietary supplements are characterised as any health product that is largely expected to enhance the eating regimen when taken in form of any tablet, capsules, etc. This research talks about the increasing intake of dietary supplements among the population of age group above 18 years and the factors that affect their purchase. With the corona virus pandemic, a few patterns have speed up, while shopper needs have changed in accordance with the emergency. Customers in India have started putting their wellbeing first and this research demonstrates that respondents focus harder on a nutritious eating routine.
  Keywords: consumer buying behaviour; dietary supplements; nutraceutical industry; corona virus pandemic.
  DOI: 10.1504/IJBFMI.2023.10063073
   
  
• A study on the performance evaluation of equal-weight portfolio and optimum risk portfolio on the Indian stock market  
  by Abhiraj Sen, Jaydip Sen 
  Abstract: Designing an optimum portfolio for allocating suitable weights to its constituent assets so that the return and risk associated with the portfolio are optimised is a computationally hard problem. The seminal work of Markowitz that attempted to solve the problem by estimating the future returns of the stocks is found to perform sub-optimally on real-world stock market data. This is because the estimation task becomes extremely challenging due to the stochastic and volatile nature of stock prices. This work illustrates three approaches to portfolio design minimising the risk, optimising the risk, and assigning equal weights to the stocks of a portfolio. Thirteen critical sectors listed on the National Stock Exchange (NSE) of India are first chosen. Three portfolios are designed following the above approaches choosing the top ten stocks from each sector based on their free-float market capitalisation. The portfolios are designed using the historical prices of the stocks from 1 January 2017 to 31 December 2022. The portfolios are evaluated on the stock price data from 1 January 2022 to 31 December 2022. The performances of the portfolios are compared, and the portfolio yielding the higher return for each sector is identified.
  Keywords: return; risk; minimum risk portfolio; MRP; mean-variance portfolio; optimum risk portfolio; ORP; Sharpe ratio.
  DOI: 10.1504/IJBFMI.2023.10060476
   
  
• Personality traits and their impact on decision-making risks in auction-based market purchases  
  by Alvaro Fabiano Pereira de Macedo, Wesley Vieira da Silva, Claudimar Pereira da Veiga, Luciano Luiz Dalazen, Deoclécio Junior Cardoso da Silva 
  Abstract: Understanding human behaviour is pivotal in financial services marketing, particularly in decision-making processes. Given that individual characteristics can significantly influence participation dynamics in auctions, this research delves into how personality traits shape the risk profile of auction market purchasers. Utilising a mixed-methods approach, we gathered data from 58 qualitative and 282 quantitative respondents through an online questionnaire. This sample comprised Brazilian auction participants, both buyers and sellers. The analysis employed advanced statistical methodologies, highlighting descriptive statistics, hypothesis tests, and factor and regression analyses. We scrutinised five key personality constructs: extraversion, neuroticism, pleasantness, openness to experience, and conscientiousness. This study presents five principal insights, equipping auctioneers, sellers, and buyers with a deeper understanding of auction participant profiles. These findings pave the way for optimised business strategies and demystify auction dynamics.
  Keywords: financial services marketing; behavioural finance; auction; personality traits; personal finance; marketing intelligence.
  DOI: 10.1504/IJBFMI.2023.10060662
   
  
• Auction game of agro-product under cobweb phenomenon of supply and demand  
  by Chipem Zimik, Prem Prakash Mishra 
  Abstract: Auction of agro-product between buyers and a farmer deals with first-price auctions in the situation of the cobweb model of supply and demand. The first price bidding auction lies in the neighbourhood of a balanced price of the indivisible agro-product. The selection of bid price holds the Weibull probability density function. We measure the available agro-product at the balance point of demand and supply which is associated with the balanced price. A new computational approach has been employed to obtain the optimum expected bidding value to get the win as well as the expected revenue earned by the farmer in the first price auction of agro-products under cobweb nature price fluctuations.
  Keywords: agro-product; cobweb phenomenon; first-price auction; Weibull distribution; inventory level.
  DOI: 10.1504/IJBFMI.2023.10060829