Perceptions of Blockchain in Luxury: Trust, Authenticity, and Market Readiness

This research investigates consumer perceptions of blockchain adoption in the luxury goods industry, focusing on key aspects such as trust, authenticity, and market readiness. While blockchain technology has been promoted as a solution to counterfeiting and supply chain transparency, its adoption in the luxury market remains underexplored from the consumer perspective. Therefore, this study aims to address the gap by examining the underlying factors that influence user intention and satisfaction when blockchain is applied to luxury product authentication and traceability. Data were collected through a survey of 654 Indonesian consumers who purchased luxury goods both online and through retail stores between April and May 2025. Data were collected through an online survey using a purposive sampling method. The survey used a Structural Equation Modelling (SEM) approach to analysed the relationships among enabling conditions, performance expectation, social influence, security concerns, and behavioural intention. All proposed hypotheses were statistically significant, indicating that these factors strongly influence user intention to adopt blockchain in the luxury sector. Moreover, authenticity assured through blockchain significantly boosts consumer trust and satisfaction. These findings highlight the importance of education, brand credibility, and intuitive design in driving successful blockchain adoption in the luxury goods ecosystem.