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Consumers’ perceptions of risks Consumers’

perceived risks
associated with the use of Airbnb of using
Airbnb
before and during the
COVID-19 pandemic 225
Seung Hyun Lee and Cynthia Deale Received 20 September 2020
Revised 25 November 2020
East Carolina University, Greenville, North Carolina, USA 5 February 2021
Accepted 5 March 2021

Abstract
Purpose – After the COVID-19 outbreak began, travel demand dropped sharply and the potential impact of
COVID-19 on sharing accommodations appears to be significant. Thus, it would be meaningful to investigate
how travelers have changed their perceptions of staying at sharing accommodations in the wake of the
coronavirus pandemic. The purpose of this research was to compare consumers’ perceived risks of using
sharing accommodations, such as Airbnb, before and during the coronavirus pandemic.
Design/methodology/approach – Paired sample t-tests were applied, using two surveys collected in 2017
(pre-pandemic) and 2020 (peri-pandemic). The effects of stress levels from COVID-19 and previous experience
with sharing lodging services on risk perception changes were also examined.
Findings – Consumers showed higher social, physical, performance and convenience risk perceptions during
the pandemic. Not surprisingly, those respondents who were more conscious of the pandemic in terms of
concern and anxiety had higher changes in their risk perceptions. In addition, changes in risk perception
differed by consumers’ usage experience.
Originality/value – The results of this study add to the body of knowledge about consumers’ risk perceptions
of the sharing economy, particularly in connection with a huge disruption such as the COVID-19 pandemic.
Keywords Sharing economy, Perceived risk, Consumer perception change, Short term rentals, Risk aversion,
Usage experience
Paper type Research paper

Introduction
In the sharing economy, individuals and groups obtain, borrow and share access to physical
assets through a peer-to-peer platform where information is shared and products and services
are bought and sold (Hamari et al., 2016). Airbnb, a major participant in the sharing economy,
allows property owners rent out their properties or rooms to guests (Airbnb, 2020; Guttentag,
2015). Founded in 2008, Airbnb generates its revenue through service fees to hosts and
guests; it costs guests a 6–12% fee and hosts a 3% fee (Guttentag, 2015). In 2018, Airbnb was
valued at 38 billion US dollars (Statista, 2019), and in 2020, it offered over 7 million
accommodations provided by local hosts and operated in 220 countries and regions
(Airbnb, 2020).
However, the COVID-19 pandemic has had negative impacts on the hospitality and
tourism industries. With home sharing comprising an estimated 10% of US consumer
spending on overnight stays, the impacts of this economic crisis will surely be felt by people
who share their assets on Airbnb (Taylor, 2020). According to data about Airbnb hosts, more

© Seung Hyun Lee and Cynthia Deale. Published in International Hospitality Review. Published by
Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY
4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for International Hospitality Review
Vol. 35 No. 2, 2021
both commercial and non-commercial purposes), subject to full attribution to the original publication pp. 225-239
and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/ Emerald Publishing Limited
2516-8142
legalcode DOI 10.1108/IHR-09-2020-0056
IHR than half of them use Airbnb income to help them afford their homes, nearly half use Airbnb
35,2 income to supplement expenses, and nearly one in five indicate that Airbnb helps them avoid
eviction or foreclosures (Ovide, 2020).
After the COVID-19 outbreak began, travel decreased sharply and the potential impact of
COVID-19 on sharing accommodations appears to be significant (Airbnb, 2020; UNWTO,
2020). Due to the pandemic, sanitation, cleanliness and hygiene have become more important
to people (Yuko, 2020). Thus, it would be meaningful to investigate how travelers have
226 changed their perceptions of staying at an Airbnb, in the wake of the pandemic. Therefore,
the objective of this study was to compare consumers’ perceived risks associated with using
Airbnb, before (pre-pandemic) and during the coronavirus pandemic (peri-pandemic).
This was a replication study where the method adopted in the second study was as close to
the original as possible. The main reason for replication was to test if changing social,
economic and political conditions due to the pandemic might impose different outcomes. The
following research question guided this study:
RQ1. How have consumers’ perceptions changed toward the risks associated with using
Airbnb before and during the coronavirus pandemic?

Literature review
Sharing economy
As noted, the sharing economy is centered on individuals directly sharing assets or services,
for free or for a fee (Botsman, 2015). The sharing economy involves a variety of businesses,
including several in the travel industry, such as Outdoorsy (2020) that allows consumers to
rent a recreational vehicle (RV) and Airbnb (2020) that permits a host to rent a lodging
accommodation to a guest.
As a disruptor in the economy, sharing economy lodging options tend to be cheaper, more
convenient and easier to use than traditional lodging accommodations (Christensen, 2013;
Zervas et al., 2017) and may be viewed as being like home (Cheng and Jin, 2019: Zhau et al.,
2019). Plus, the sharing economy accommodations may create a new market (Guttenberg,
2015); one research study has found that 30% of Airbnb users would not have visited the
destination or stayed as long if the option had not been available (Guttentag and Smith, 2017).
Some traditional lodging providers have chosen to ignore sharing accommodations, as
they do not think that the sharing economy is in direct competition with them (Heo et al.,
2019), but others are worried (Guttentag, 2015). For instance, given that sharing
accommodations are often used by low budget, leisure travelers, traditional
accommodations that are directed toward that particular market may be negatively
impacted by the growth of sharing accommodations (Guttentag and Smith, 2017; Young et al.,
2017; Zervas et al., 2017).

Airbnb as a major participant in the sharing economy

As a sharing accommodation, Airbnb has been characterized by its lower costs (Zervas et al.,
2017) and high level of host involvement (Nguyen, 2014). In several studies, Airbnb
consumers reported that the sharing economy lodging option provided them with benefits
regarding pricing and amenities, and they had intrinsic motivations for its use, such as trust
(e.g. Hamari et al., 2016; Ert et al., 2016; Mao and Lyu, 2017; So et al., 2018). While opinions of
Airbnb may be largely positive (Bridges and Vasquez, 2018), consumers have also conveyed
complaints, constraints and/or risks associated with staying in these accommodations (e.g.
Liang, 2015; Phua, 2019). For example, customers have noted service and technology
challenges and expressed reduced trust (Phua, 2019) and potential risks related to a lack of
regulation (Mao and Lyu, 2017).
 Perceived risk (Jun, 2020; Liang et al., 2018; Lee, 2020) and lack of trust (Tussyadiah and Consumers’
Pesonen, 2016; Xie and Mao, 2017; Zhenxing et al., 2020) have been explored as obstacles to perceived risks
the use of Airbnb. Results of previous studies have indicated that distrust predicts overall
attitude toward Airbnb, and insecurity with the product is directly related to behavioral
of using
intention to use a shared lodging accommodation (So et al., 2018). In addition, Airbnb users Airbnb
develop risk perceptions based on their previous experiences with Airbnb (Liang, 2015).
A recent study by Lee (2020) provided initial insights into the reasons why consumers
avoid sharing accommodations and identified potential benefits and risks in relation to 227
attitude and behavioral intentions prior to the pandemic. The results indicated that both
perceived risks and benefits influence consumers’ attitudes toward sharing economy
accommodations, which result in higher intentions to buy sharing accommodations and
services. That finding was somewhat consistent with previous research (So et al., 2018) that
found that motivations (i.e. price, enjoyment and home benefit) and constraints (i.e. distrust
and social influence) impact overall attitude, bringing about behavioral intentions toward
Airbnb.

COVID-19 and hospitality and tourism

As the COVID-19 pandemic continues, many businesses have seen a loss in revenue or closed, and
travel and tourism may be impacted for many years (Gradek, 2020). According to the United
Nations (U.N.) (2020a), international tourist numbers could decrease between 58 and 78% in 2020
alone, signifying a huge decline in visitor spending between 2019 and 2020, placing over 100
million tourism jobs in jeopardy around the globe (UNWTO, 2020b).
However, recently tourism has seen a slow, cautious change in the positive direction, with
some travel restrictions starting to be lifted in a few countries, some international flights
returning and some domestic and interregional travel markets reopening (UNWTO, 2020a).
Domestic tourism is expected to rebound sooner than international travel, with changes such
as more trips being taken closer to home, bookings being made closer to the departure dates
of the trip, a preference for car travel (UNWTO, 2020a) and an increase in the purchase, rental
and use of RVs (Sozzi, 2020). However, although travel may begin to increase, consumers’
concerns about the risks associated with travel continue (UNWTO, 2020a). It appears that the
recovery will continue to be slow and intermittent, and experts warn that changes in industry
practices will be needed for success in the future (Ipsos, 2020).

COVID-19 and the sharing economy, focusing on Airbnb

As far as sharing economy accommodations are concerned, Airbnb CEO Brian Chesky noted in
May of 2020 that revenues could decline more than 50% during the year, prompting him to cut
costs, raise $2 billion in capital and let 1,900 employees go (25% of the total) (Airbnb, 2020a,
online). As the summer of 2020 progressed, revenues did decline, but Airbnb experienced more
booked nights for US listings between May 17 and June 3 of 2020 than during the same period in
2019 and saw a similar increase in domestic travel globally (Roof and Carville, 2020). Recent
projections are that Airbnb could thrive, as customers see the accommodations as being much
less risky than traditional hotels with regard to the spread of the virus (Mohamed, 2020). Yet,
while previous studies helped to clarify consumers’ perceived risks of using shared economy
accommodations prior to the pandemic, little is known about their perceptions of risks during the
pandemic, nor have comparisons been made in terms of any changes in their views.

Perceived risk
Risk is defined as the probability and adverse consequences of an uncertain outcome before
and during purchase (Bart et al., 2005; Stone and Gronhaug, 1993; Grewal et al., 2007;
IHR Kushwaha and Shankar, 2013). In comparison to tangible products, the role of perceived risk
35,2 is more salient for services due to greater intangibility derived from lack of physical evidence
of the product offered (Boshoff, 2002; Cunningham et al., 2005; Laroche et al., 2004; Murray
and Schlacter, 1990; Sun, 2014). In addition, the consumer’s personal involvement with
service causes social and psychological losses to be more salient for services than for goods
(Laroche et al., 2004; Murray and Schlacter, 1990; Sun, 2014).
Consequently, for services, perceived risk is a major factor influencing consumer choice
228 (Gefen and Pavlou, 2012; Grewal et al., 1994; Stone and Gronhaug, 1993; Xie and Mao, 2017),
and risk exerts a strong effect on behavioral intentions. Perceived quality of the service
provider diminishes perceived risk and thereby, perceived risk reduces behavioral intentions,
while perceived quality of the service provider enhances behavioral intentions (Grewal et al.,
2007). That explains why provision of the brand guarantee improves expected quality and
reduces perceived risk (Lee and Khan, 2012; Wirtz et al., 2000). Brand credibility leads to
increased perceived quality and decreased perceived risk, which results in the effects on
purchase intention across multiple service categories (Baek and Karen, 2011; D’Alessandro
et al., 2012).
In one study, researchers found that risk perceptions can be reduced by providing general
service information, price information and a service guarantee in a printed advertisement
(Boshoff, 2002). In another study, Pires et al. (2004) found that there was no association
between the frequency of online purchasing and perceived risk, although satisfaction with
prior Internet purchases was negatively associated with the perceived risk of intended
purchases. Yang et al. (2015) proposed the uncertainty-risk-value framework and found that
perceived information asymmetry, perceived technology uncertainty, perceived regulatory
uncertainty and perceived service intangibility are identified as the main determinants of
perceived risk, while perceived performance risk, perceived financial risk and perceived
privacy risk were found to have strong negative effects on perceived value and acceptance
intention.

Development of hypotheses
Due to the lack of knowledge about consumers’ perceived risk with regard to staying in
Airbnb accommodations during the pandemic, this study compared consumers’ risk
perceptions before the pandemic to their perceptions during the pandemic, based on the
following dimensions of perceived risk: social, psychological, psychological, financial,
convenience and performance (Bart et al., 2005; Kushwaha and Shankar, 2013; Laroche et al.,
2004; Anderson et al., 2016; Stone and Gronhaug, 1993). This study examined the following
four dimensions of perceived risk that are relevant in the context of sharing services
(Lee, 2020):
(1) Social risk

a loss such that the choice may result in embarrassment and loss of self-esteem
before family or friends (Kushwaha and Shankar, 2013; Murray and Schlacter,
1990; Skard and Nysveen, 2016).
(2) Physical risk

related to safety and potential hazards or harms associated with the purchase or
use of goods (Murray and Schlacter, 1990).
(3) Performance risk

the loss incurred when the service does not perform as expected (Kushwaha and
Shankar, 2013; Sweeney et al., 1999).
 (4) Convenience risk Consumers’

addresses the loss of time and effort associated with the purchase and highlighted perceived risks
the possibility that the service will fail to deliver the desired benefits (Skard and of using
Nysveen, 2016). Airbnb
Effects of risk have been shown to be contingent on contextual and individual factors (Curran
and Meuter, 2005; Skard and Nysveen, 2016), including consumer decision-making processes
that may vary under differing environmental conditions, with the level of uncertainty viewed 229
on a continuum ranging from very stable to very unstable (Dean and Sharfman, 1993). In a
stable environment, conditions are well understood and can easily be factored into decisions
and thus, enable consumers to anticipate with some certainty and plan for change based on
experience and past information. However, the rate of change in the environment can be
extreme when a change is rapid and discontinuous (Bourgeois and Eisenhardt, 1988), such as
that caused by a pandemic. Effective decision-making can be challenging in this rapid,
unstable environment not only because a change is so dramatic, but also because it is difficult
to predict the significance of a change as it is occurring (Sutton et al., 1986).
When consumers replace traditional lodging services with a sharing service, especially
during the pandemic, they may be concerned that the performance of the shared lodging
accommodation may not be as consistent as that of hotels (Lee, 2020). Uncertainty due to the
pandemic may exert a stronger perceived risk in using sharing services and push consumers
away from the idea of renting from strangers because sharing providers are more likely to be
unregulated and unsupervised (Young et al., 2017; Mody et al., 2017). Thus, it is proposed that
consumers perceive higher risk during an unpredictable and uncertain environment, leading
to H1:
H1. There are significant changes between consumers’ risk perceptions regarding
staying at sharing accommodations pre-pandemic and peri-pandemic.
Still, although consumers may perceive higher risk overall during the pandemic, individuals
differ with respect to the risk they can tolerate, often called risk aversion, resulting in different
attitudes toward risk (Baz et al., 1999; Sun, 2014). Not surprisingly, risk aversion influences
the ways consumers make purchasing decisions (Baz et al., 1999; Shimp and Bearden, 1982),
and consumers’ risk assessment is influenced by how sensitive they are to risk (Havlena and
DeSarbo, 1991). For example, consumers with low risk aversion feel less threatened by
ambiguous conditions, while those with high risk aversion feel more threatened (Sun, 2014).
Similarly, it can be concluded that consumers show different levels and types of sensitivity
and anxiety toward the risk of the coronavirus, which influence their risk perceptions
regarding staying at sharing accommodations, leading to H2:
H2. Higher changes in risk perceptions of staying at sharing accommodations, pre-
pandemic and peri-pandemic, are seen among consumers who are more concerned
about the coronavirus.
Consumers’ risk perceptions may also be impacted by their previous experiences, for
previous studies have revealed that usage experience influences consumer attitude and
actual consumption (Thompson et al., 1994). Experience is a general term that involves
knowledge or skills about an object/event gained through the involvement in or exposure to
that object/event (Shen et al., 2011), and more specifically usage experience is often measured
by asking individuals to self-report their experience with the product category, such as
whether they have used, owned, or searched for information about the product (Raju et al.,
1995). Interestingly, scholars have found that subjective norms became less important with
increasing experience (Karahanna et al., 1999). Therefore, consumers will use their prior
IHR experience as a reference point to infer product quality and refine their choices. Consequently,
35,2 changes in risk perceptions may differ by usage experience (whether they have used a
sharing lodging service), leading to H3:
H3. Changes in risk perceptions of staying at sharing accommodations, pre-pandemic
and peri-pandemic, differ by consumers’ usage experience.

230
Methodology
To examine how consumers have changed their risk perceptions of Airbnb since the COVID-
19 pandemic began, this replication study was conducted for comparison. The results of the
first survey conducted in February of 2017 (pre-pandemic) were adopted from a research
study completed previously by Lee (2020). For the replication survey, the same method was
adopted to be as close to the original as possible, to allow for comparison. The data for
the second survey were collected in March of 2020 (peri-pandemic).
The scale used in this study was adapted from Lee’s (2020) study. It included four items of
social risk (Cronbach’s αpre 5 0.928; αperi 5 0.907), four items of physical risk (Cronbach’s
αpre 5 0.847; αperi 5 0.782), three items of performance risk (Cronbach’s αpre 5 0.689;
αperi 5 0.712) and three items of convenience risk (Cronbach’s αpre 5 0.778; αperi 5 0.717).
A 5-point Likert scale was used (1 5 “strongly disagree” and 5 5 “strongly agree”) (see the
Appendix).
In addition, six questions related to COVID-19 were asked to measure concern levels due to
the pandemic (e.g. I am concerned about getting COVID-19). A 5-point Likert scale, ranging
from 1 being “strongly disagree” to 5 being “strongly agree,” was used. Questions related to
travel patterns such as frequency of travel per year, the main purpose of their most recent trip
and previous experience with sharing accommodations were also asked. Finally, questions
related to demographic information (e.g. age, gender and income) were asked.
Convenience sampling was used because it allowed the researchers to obtain data in a
relatively easy manner. A consumer panel sample was recruited through a marketing
research firm called MTurk, which was the same the platform used in 2017 (Lee, 2020). When
validating online tools, Buhrmester et al. (2016) analyzed the demographic characteristics of
samples obtained via MTurk and found that the quality of data met or exceeded the
psychometric standards associated with the published research.
Data analysis applied SPSS 26 and paired sample t-tests were used to compare changes in
risk perceptions between the consumers’ pre-pandemic and peri-pandemic. t-tests were used
to investigate the effects of stress levels from COVID-19 and previous experience with
sharing economy lodging services on risk perception changes.

Results
Sample
For the pre-pandemic survey data analysis (data collected in 2017), 309 surveys were used.
The sample consisted of 66% females and 34% males, 76% were 34 years old or younger, 7%
stated that they traveled 3–5 times annually, and most respondents (81%) indicated that they
had previously used sharing accommodations (Lee, 2020).
In the peri-pandemic survey, 304 responses were used for data analysis. The sample
consisted of more male (74%) than female (26%) respondents; 72% of them were younger
than 34 years old, and their annual household income varied. Sixty percent reported that they
travel 3–5 times a year and 80% had used a sharing lodging service (e.g. Airbnb). In addition,
the respondents were asked how long they thought it would take for them to resume their
normal travel. Forty-seven percent of them said 3 months and 31% said 6 months, followed
by 9 months (10%), less than 1 month (6%) and more than 12 months (6%). When they
resumed their normal travel, they indicated that their main purposes for traveling would be Consumers’
business (51%), visiting friends and family (30%) and leisure (19%). Their choice of an perceived risks
accommodation would be the following: a midscale hotel (32%), an economy hotel (29%), an
upscale hotel (20%) and a luxury hotel (9%); whereas 10% of them would choose short term
of using
rentals such as Airbnb. Airbnb

Hypothesis testing 231

H1. Risk perception changes were examined by comparing the pre-pandemic and peri-
pandemic perceptions. The overall average pre-COVID-19 social risk was 2.64; physical risk
was 3.27; performance risk was 3.54, and convenience risk was 3.19. Results of the peri-
pandemic indicated that the overall average peri-COVID-19 social risk was 3.28; physical risk
was 3.63; performance risk was 3.79, and convenience risk was 3.64. As seen in Table 1, paired
sample t-tests confirmed that perceived risk changes were significant: social risk (Δ 5 0.64,
t 5 6.856, p < 0.001), physical risk (Δ 5 0.35, t 5 4.978, p < 0.001), performance risk (Δ 5 0.24,
t 5 3.523, p < 0.001) and convenience risk (Δ 5 0.45, t 5 6.186, p < 0.001), supporting H1.
Interestingly, social risk change (Δ 5 0.64) was larger than other risk changes.
H2. Risk perception changes were examined by consumer anxiety levels, such as their
state of mind regarding the pandemic. They were concerned about getting COVID-19
(m 5 3.85), the outbreak made them remain in a state of nervous tension (m 5 3.80), they felt
vulnerable (m 5 3.76), and the outbreak made them feel sad and depressed (m 5 3.67). The
respondents also thought that the outbreak makes them feel scared easily (m 5 3.66) and
their chances of getting infected are high (m 5 3.51).
The respondents included in the peri-pandemic data were classified into the following two
groups by their levels of concern: more concerned (152 respondents) and less concerned (151
respondents). As expected, the more concerned group had higher anxiety levels due to
COVID-19 than the less concerned group (Mmore concerned 5 4.31 vs. Mless concerned 5 3.10,
t 5 427.254, p < 0.001). As shown in Table 2, the more concerned respondents exhibited
higher perceived risk changes than the less concerned group: social risk (Δmore concerned 5 0.98
vs. Δless concerned 5 0.27, t 5 15.604, p < 0.001), physical risk (Δmore concerned 5 0.67 vs.
Δless concerned 5 0.03, t 5 22.327, p < 0.001), performance risk (Δmore concerned 5 0.52 vs.

Social risk Physical risk Performance risk Convenience risk

Pre-COVID -19 2.64 (1.15) 3.27 (0.87) 3.54 (0.89) 3.19 (0.93)
Peri-COVID -19 3.28 (1.13) 3.63 (0.83) 3.79 (0.80) 3.64 (0.82) Table 1.
t 6.856 4.978 3.523 6.186 Risk perception
p 0.000 0.000 0.000 0.000 changes (peri –
Note(s): Standard deviations are in parenthesis pre-test)

Peri-COVID -19 Change

Risk More concerned Less concerned More concerned Less concerned t Sig

Social 3.71 (1.06) 2.83 (1.04) 0.98 (1.64) 0.27 (1.49) 15.604 0.000 Table 2.
Physical 3.98 (0.72) 3.27 (0.78) 0.67 (1.12) 0.03 (1.22) 22.327 0.000 Risk perception
Performance 4.10 (0.66) 3.47 (0.80) 0.52 (1.03) 0.04 (1.27) 17.999 0.000 changes by the levels of
Convenience 3.92 (0.77) 3.36 (0.77) 0.76 (1.20) 0.14 (1.27) 19.273 0.000 stress due to the
Note(s): Standard deviations are in parenthesis COVID-19 pandemic
IHR Δless concerned 5 0.04, t 5 17.999, p < 0.001) and convenience risk (Δmore concerned 5 0.76 vs.
35,2 Δless concerned 5 0.14, t 5 19.273, p < 0.001), supporting H2.
H3. Lastly, risk perception changes were investigated by consumer usage experience.
Based on the peri-pandemic data, the respondents were classified into the following two
groups by their usage experience (whether they have used a sharing lodging service): yes (243
respondents) and no (60 respondents). Table 3 reveals that those respondents who had used a
sharing lodging service displayed a higher perceived social risk change than the those
232 without experience: social risk (Δyes 5 0.73 vs. Δno 5 0.26, t 5 4.150, p < 0.05). Conversely, the
respondents who had not used a sharing service showed a higher perceived performance risk
change than those with experience: performance risk (Δyes 5 0.14 vs. Δno 5 0.64, t 5 8.572,
p < 0.05), thus partially supporting H3.

Discussion
As noted, there were significant changes between consumers’ risk perceptions regarding
staying at sharing accommodations pre-pandemic and peri-pandemic, supporting hypothesis
1. Consumers showed higher social, physical, performance and convenience risk perceptions
peri-pandemic. Interestingly, the social risk changes were greater than other risk factors.
This view may be connected to brand image issues associated with sharing economy
accommodations, especially during the pandemic. Consumers increased their perception of
the risk of having a host become hostile, and perhaps this is not surprising given the difficult
situation that the pandemic has created for both hosts and guests. Hosts may be concerned
about losing revenue and having to engage in enhanced cleaning procedures (e.g. e.g. Airbnb,
2020b), while guests may be worried about having a host become upset if they complain
about the cleanliness of the accommodations or use the cancellation policy. This finding
might also connect to the respondents’ perceptions that if something goes wrong during
check-out, there may be no one on site to help, suggesting that a lack of service may be
an issue.
Not surprisingly, consumers showed different levels and types of sensitivity and anxiety
toward the risk of the coronavirus, which influenced their risk perceptions regarding staying
at sharing accommodations. Higher changes in risk perceptions of staying at sharing
accommodations, pre-pandemic and peri-pandemic, were observed among respondents who
were more concerned about the coronavirus, supporting hypothesis 2. This result was
expected, but it highlights the impact of people’s concerns about the pandemic, and the
finding that those with higher levels of risk aversion had increased risk perceptions related to
staying in sharing accommodations is similar to previous findings regarding consumer
purchasing decisions (e.g. Sun, 2014; Havlena and DeSarbo, 1991).
In addition, some changes in risk perceptions regarding staying in sharing
accommodations, pre-pandemic and peri-pandemic, differed by consumers’ usage
experience, partially supporting H3. This finding concurs with previous research that
found that usage impacts consumer attitudes and consumption (Thompson et al., 1994).

peri-COVID -19 Change

Yes No Yes No t Sig

Social 3.31 (1.16) 3.14 (1.01) 0.73 (1.65) 0.26 (1.33) 4.150 0.043
Table 3. Physical 3.67 (0.82) 3.46 (0.86) 0.34 (1.21) 0.38 (1.24) 0.040 0.841
Risk perception Performance 3.80 (0.81) 3.73 (0.75) 0.14 (1.15) 0.64 (1.26) 8.572 0.004
changes by usage Convenience 3.68 (0.94) 3.50 (0.90) 0.44 (1.30) 0.50 (1.17) 0.107 0.743
experience Note(s): Standard deviations are in parenthesis
Overall, changes in social risks were higher than other risk factors and this was especially the Consumers’
case with those who had stayed at a sharing accommodation. Once again, perhaps this is perceived risks
connected with a lack of a cohesive, positive brand image. Additionally, the result may be
connected to how much consumers attend to the views that they think others have of them,
of using
and that issue is perhaps worth further study to understand more about social risk Airbnb
perceptions. Those who had not used sharing economy accommodations held higher changes
in performance risk perceptions, thinking that the images of the properties were not accurate
and that hotels are more reliable choices. 233
While several items had significantly different means between the pre-pandemic and
peri-pandemic surveys, interestingly several items that might be seen as related to the
pandemic did not show differences. For instance, the perceptions of cleanliness were not
much different and possibly one might think that those would change considerably
between the pre-pandemic and peri-pandemic survey (See Appendix). However, Airbnb
(2020b) launched an enhanced cleaning protocol in the spring of 2020 and the respondents
may have been aware of these higher standards. Conceivably they may understand, as
noted by infectious disease experts, that renting a property offered by Airbnb, is typically
seen as safer than renting a hotel room because there is less direct person-to-person contact
and reducing person-to-person contact is seen as critical to reducing the spread of the
coronavirus (Dubin, 2020).

Implications
As noted, by the findings related to H1, respondents already believed that there were some
social, physical, performance and convenience risks associated with staying in sharing
economy accommodations prior to the pandemic and those perceived risks seemed to be
heightened by the pandemic. Interestingly, one study, comparing hotels to sharing economy
accommodations, found that hotels performed just as well as Airbnb with regard to being
hospitable (Mody et al., 2019), a social risk factor. However, hosts are not often present at a
shared economy accommodation, and communication between a guest and host is typically
conducted online and limited, sometimes with a manager attending to the accommodation
that may not own the property, live in it, or be very familiar with it. Perhaps more information
could be shared between hosts and guests and more interaction, with a more intentional focus
on being hospitable, could be encouraged through Airbnb, for the safety and well-being of
both guests and hosts.
With regard to risk perceptions, accurate photos played a role, and they may be
particularly meaningful during the pandemic. Given that consumers changed their
perceptions such that they were less likely to believe that the photos honestly portray
the accommodations, it would be wise for hosts to update their photos and ensure that the
images truly reflect the accommodations accurately to provide guests with realistic views of
their properties.
As observed in the results of the study, higher changes in risk perceptions of staying at
sharing accommodations, pre-pandemic and peri-pandemic, were found among the
respondents who were more concerned about the coronavirus. Again, communication may
help to mitigate these risk perceptions and therefore, it would be wise for managers of online
sharing economy platforms and hosts of sharing accommodations to clearly articulate the
measures being applied to ensure the safety, well-being and peace of mind of their guests.
Furthermore, once again, perhaps a more intentional focus on service is needed, including
host-guest interactions that are authentic, genuine, friendly and helpful.
As noted above, several changes in risk perceptions regarding staying in sharing
accommodations, pre-pandemic and peri-pandemic, varied by consumers’ usage experience.
This finding may also indicate that more meaningful communication and better service, in
IHR terms of attention to the guest and to the property itself, could be warranted to help diminish
35,2 these negative perceptions.

Implications for the sharing economy: Airbnb

The findings of the study indicate that due to the pandemic, sharing economy
accommodation providers should be sure to carefully develop, implement and articulate
234 their cancellation policies, cleaning policies and what they will do if a previous guest is found
to have COVID-19. In addition, providers would do well to carefully determine and
communicate what their buffer policy is, in terms of how many hours occur between when
guests check-out and the next guests check into an accommodation.
Generally, to mitigate risks of all kinds, those involved in the leadership, management and
maintenance of lodging properties, including sharing economy brands, need to be flexible and
adapt to change (Ipsos, 2020). Traditional hotels have often been seen as better providers of
service than those offered via the sharing economy due to high levels of person-to-person
contact, but the pandemic may have changed that view due to the ways that sharing
accommodations operate. Providers of sharing economy accommodations typically already
have some safety measures in place such as limited to no-contact check-in procedures, no
lines of guests waiting to check in, and many do not have elevators, which may be activities or
spaces where the virus could potentially spread.
Furthermore, hosts would do well to consider how service can be offered and seen
positively by guests even though the hosts may not be physically present at the property.
The findings may help sharing service providers better understand heightened perceived
risk and help support the development of appropriate strategies to mitigate the risk concerns
consumers have regarding using a sharing lodging service, especially during the pandemic.
Carrying out thoughtful, competent, caring, intentional, authentic service activities can
possibly help to mitigate consumers’ perceived risks and include, but are not limited to the
following:
(1) Maintaining ongoing communication between guest and host;
(2) Clearly articulating the cleanliness, amenities and safety of the accommodations;
(3) Following up promptly if any issues arise; and
(4) Making guests feel welcome from their first encounter to their last, which could be
from when a guest seeks out a property online until the guest provides a review after
his/her/their stay.

Conclusions, limitations and suggestions for future research

While the results of this study add to the body of knowledge about consumers’ perceptions of
the sharing economy, particularly in connection with the COVID-19 pandemic, the study has
several limitations. These include that the sample was relatively small and restricted to a
consumer panel; a larger, more diverse sample might have yielded different results. In
addition, the respondent groups differed in composition between the pre-pandemic and peri-
pandemic survey. Ideally researchers would want to use the same respondent group for
paired comparison, but due to limited resources and time, two different panels were used.
Although the researchers kept the source of the panel and sample size consistent, differences
between views based on individual characteristics such as gender could potentially influence
the results. Future research could investigate risk perceptions of shared economy lodging
further through investigations based on demographic aspects. Further studies might also
consider comparisons between changes in perceptions of shared economy lodging and
traditional lodging options pre-pandemic and peri-pandemic. It is possible that not just Consumers’
perceptions of using sharing accommodations have been negatively affected by the perceived risks
pandemic. For example, it is conceivable that those with high anxiety, stress and concern over
the coronavirus might not only have increased risk perceptions about staying in sharing
of using
accommodations, but also about staying in traditional hotels, dining inside restaurants and Airbnb
attending events.
In conclusion, the respondents perceived increased risks regarding staying in Airbnb
accommodations during the pandemic. It is recommended that sharing service providers 235
ensure that they are flexible; adapt to ongoing changes; provide consistent, thoughtful
service; offer carefully crafted online information, including accurate images; communicate
effectively with potential guests and current guests; and consider potentially revisiting,
revising and even reinventing the way that they provide service. By doing so, customers will
remain loyal to sharing services following the end of the pandemic.

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Appendix
Descriptive analysis

Pre-test Peri-test
Mean SD Mean SD

Social risks
I may be seen that I am unable to rent a proper hotel 2.24 1.15 3.26 1.24
Others may think that using it is low class 2.23 1.12 3.29 1.34
Others may view me as cheap 2.24 1.15 3.27 1.29
Others may judge me for making a bad choice 2.38 1.12 3.27 1.26
Physical risks
Place is not clean 3.23 1.03 3.46 1.16
It may be in a poor, unsafe, remote neighborhood 3.41 1.02 3.75 0.97
Despite background verification, there could be a chance that the host may 3.38 1.11 3.66 1.04
turn hostile or harass me
There is a possibility of burglary, break-in, or theft 3.32 1 3.63 1.11
Performance risks
It is difficult to tell from a photo how the place really looks 3.35 1.01 3.71 1.01
Photos may be misleading and not representative of the place 3.52 0.98 3.81 1.04
Performance may not be as consistent as hotels 3.53 1.04 3.85 0.95
Convenience risks
It takes longer to check in 2.99 1.03 3.48 1.14
It takes more time to make choices 3.09 1.12 3.66 1.03
If something goes wrong during check-out, there is no one else on site to help 3.42 1.03 3.78 0.89
besides the host
Note(s): 5-point Likert scale was used; the scale was adapted from Lee’s (2020) study

Corresponding author
Seung Hyun Lee can be contacted at: [email protected]

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