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The Impact of Online Shopping Carnival on Consumer Decision-Making: The Moderating Role of Gender

The online shopping carnival has become an annual event for the e-commerce industry in recent years. However, the change of consumers' multi-stage decision-making process during the online shopping carnival remains unknown and has not been investigated before. This study proposes research framework based on stimulus–organism–response (SOR) model, and uses the difference-in-difference (DID) method and regression model to empirically test 50 million shopping log data of more than 420,000 consumers on the Tmall platform. We attempt to identify the impact of online shopping carnival on the relationship between consumers' information processing behavior and purchase decision, and to explore the moderating role of gender. The study expands the research on consumer differences and provides important implications for merchants to formulate targeted marketing strategies based on customer characteristics.