Research Of Retail Companies’ Willingness To Adopt Blockchain Technology Under The TOE Framework

With the continuous development of global digitalization,the new generation of information technology represented by blockchain is driving enterprise technology innovation and industrial revolution.Especially since the 2020 epidemic,uncertainty in the market economy has increased dramatically,and governments and enterprises are looking for ways to use new technologies to reduce socio-economic transaction costs and improve economic management efficiency.Blockchain technology,as an important part of the new generation of information technology,has unique advantages such as decentralization,anonymity,tamper-evident,security and reliability,which can effectively solve the problems of opaque information,lack of integrity within stakeholders,payment delays and lack of accountability mechanisms,provide more secure and efficient information services for enterprises,and help solve the long-standing problems of retail enterprises.However,the adoption of blockchain technology by retail enterprises is currently lagging far behind other industries,and research on the adoption of blockchain technology in the retail sector is still quite limited.Therefore,it is urgent to conduct an in-depth investigation into the factors influencing retail enterprises’ willingness to adopt blockchain technology in order to provide effective theoretical guidance for the successful adoption and application of blockchain technology by retail enterprises and accelerate the pace of digital transformation of retail enterprises.Firstly,this study identifies the factors influencing retail enterprises’ willingness to adopt blockchain technology based on a review of relevant literature and the current market situation of the retail enterprise industry.Secondly,based on the TOE framework,an empirical model of this study was constructed using structural equation modeling,data were collected by distributing questionnaires to practitioners in different retail sectors,and the collected sample data were examined using data analysis software such as SPSS and AMOS.Then,based on the above empirical results,practical suggestions and recommendations were made from three perspectives: blockchain R&D enterprises,retail enterprises,and government and regulatory agencies.It was found that the five influencing factors,namely the relative advantage of technology in the technology dimension,organizational culture and organizational readiness in the organizational dimension,and government support and competitive market pressure in the environmental dimension,positively influenced the willingness of retail enterprises to adopt blockchain technology,while the complexity and cost of technology adoption negatively influenced the willingness of adoption.Among them,organizational culture in the organizational dimension has the greatest influence on adoption intention among the seven influencing factors;organizational readiness is the least influencing factor on adoption intention.This study enriches the theoretical framework affecting retail enterprises’ willingness to adopt blockchain technology,enriches empirical studies on retail enterprises’ willingness to adopt blockchain technology,and provides theoretical guidance for the successful introduction and adoption of blockchain technology by retail enterprises.It helps to demonstrate the potential business value of blockchain technology in the retail sector and provides retail industry practitioners with a clear understanding of the advantages and challenges of blockchain in the retail sector.It also allows government policy makers to provide sustainable strategic guidance to better facilitate the digitalization of enterprises.