H EDONIC V ALUE

These hedonic facts seem to be more related to “cycling” in general, and not specifically with using a PSS like Swapfiets. Therefore, their impact is associated with the decision to start using a bike without making distinctions between owning, renting or leasing it.

One of the respondents made a really interesting reflection. He mentioned that, since Copenhagen is a cycling city, has excellent infrastructure and people are used to cycling, it is normal that companies develop new ways of offering bikes. Therefore, that gives people more options to choose in which way they want to have access to a product. As he mentioned, he had seen PSS applied to other products, like cars, in his country, but cycling in his country was not as popular as in Denmark and therefore there were fewer choices for having access or buying a bike in his country. Thus, the Danish Cycling Culture might have an indirect impact on people deciding to lease their bikes:

“I come from a country where we don’t have this kind of bike leasing companies, so it has been the first time I’ve seen this concept of sharing economy applied to bikes. (…) living here helps you adapting more to these types of technologies and economies. I think it is before you see they are more valuable here and they are as good as any other mechanism, so, you see the advantages, and gradually adapt to them.” (P8, lines 1596-1600).

The perceived hedonic value can also be related to consumers’ social experiences. The access-based economy is rooted in the sharing economy, which is considered a more social way of consumption, especially when a peer-to-peer exchange happens. Swapfiets’

business model is based on a business-to-peer exchange, but this study has also aimed to get insights on how users felt about the other consumers and whether they felt a part of a community. Therefore, they were asked about the connection they felt with other Swafiets users and with the company itself.

Firstly, participants were asked if they felt like a part of “The Blue Tire” community. They mentioned that they feel more a part of the cycling community in general. However, some of them said that some feelings are arising when they meet other Swapfiets users. For example, one of the participants mentioned that “it is usually fun to give a compliment to

someone who is riding the same brand, like: oh, what a nice bike you have” (P3, lines 567-569). Additionally, another respondent also mentioned: “every time I see someone on a Swapfiets bike, I am smiling to him/her. They have the same bike, so I feel some kind of connections. It is like when you are wearing something, and your friend shows up with the same t-shirt” (P6, lines 1276-1278). Finally, some participants mentioned that they perceived “The Blue Tire” more like a trend that was arising, and they felt part of that trend rather than a social community.

Secondly, participants were asked if they felt some connection with the brand Swapfiets.

Most of them said that, even though the main reasons they chose to use the service were convenience and price, they have had really positive experiences with the company. They kept talking about how helpful and friendly the staff are, and how they made their experiences with the company very smooth. Most of them could not recall any bad experience with the company. When participants were asked if they talked to other people about Swapfiets, most mentioned that they usually recommend the company to other people, thereby contributing to word-of-mouth spread of information about the service. As one of the participants said: “I recommended them (friends) to use Swapfiets. I talked about how easy it was and how happy I was with the company and the bike. I actually convinced two people to start using it” (P6, lines 1257-1258). In addition, the two participants from The Netherlands mentioned that they felt some connection with the brand as it was created in their country. They said they feel proud to see people cycling around Copenhagen using the Dutch company’s bikes.

Lastly, people mentioned that, although the aesthetics of the bikes were not one of the most important aspects for them (especially for male participants), they “associate having a Swapfiets bike with having a nice bike” (P5, line 1031). Or, as some of the respondents mentioned, they “would stick to Swapfiets, basically, because the bike is super nice” (P8, line 1725).

5.3.1. Sub-conclusion

According to Rintamäki et al. (2006), the perceived hedonic value can be divided into three different categories: social, aesthetic and emotional benefits. This analysis has focused on finding results regarding these three main aspects that Millennial consumers encounter in the experience of leasing a bike.

Firstly, the social value is associated with the necessity of communication with other individuals or the interaction with specific social groups (Arnold & Reynolds, 2003). This value is related to the way consumers create and express their self-identity with others through the product or services they use (Kazakeviciute & Banyte, 2012).

The perceived social value found through this research is mainly associated with feeling part of the Danish Cycling Culture in general. Furthermore, there have not been distinctions made by participants between leasing, renting or owning a bike as a way to feel part of that cycling community. In terms of feeling part of a Swapfiets´ brand community, respondents expressed different points of view. Some felt somehow connected to other consumers as their bikes look similar, and all of them have the distinctive “blue tire”. However, they do not seem to have a strong feeling of belonging to a brand community. On the other hand, some interviewees mentioned that, even though the functional and financial values of the PSS are the most important for them, their experiences with the company service and its staff are really positive, and that has made them promote and recommend the brand to other people.

Secondly, the emotional value is related to the feelings people experience when they consume. This aspect has a substantial impact on satisfaction and behavioural intentions (Kazakeviciute & Banyte, 2012). Through the present research, I have found that people feel good about cycling. Some of the participants find cycling relaxing or use that activity as a way to explore the city. These are positive emotional aspects that have an impact on the overall perceived hedonic value. They are not directly related to the use of Swapfiets, but rather to bike use in general. However, and in relation to the social value mentioned before, some participants indicated that the ease of use, the convenience and the positive

experiences with the company staff make them enjoy their experiences of using Swapfiets and feel satisfaction regarding their decision of leasing a bike.

Thirdly, the aesthetic value is related to the attractiveness of the product and its design (Kazakeviciute & Banyte, 2012). This aspect of hedonic value does not seem to be so crucial for the participants of the study. However, it is interesting to see how female respondents seem to care more about the appearance of their bikes. The overall outcomes of the discussion about the design of the bikes were related to the bikes “looking really nice” (P5, line 1030). Participants were asked if they would like to change something about the bike or personalize them. All of them mentioned that it would be advantageous to have baskets on their bikes, which would also increase the functional value of the product. Furthermore, some of them also mentioned that it would be nice to have more different colours and designs or get stickers to make the bike look more personal.

In conclusion, the perceived hedonic value for participants seems to be indirectly related to leasing a bike. In contrast to both functional and financial value, which have a direct impact on the consumers' decision-making process, the hedonic values seem to arise afterwards, once the consumption experience is happening. Thus, consumers seem to perceive different hedonic benefits related to the feelings they develop through the experience of cycling.