3062 Information as a Barrier to Innovation Adoption

This paper is a preliminary exploration of the role of information as a barrier to innovation adoption. Earlier literature has suggested five barriers namely Usage, Value, Risk, Tradition and Image barriers to explain consumer resistance to innovations. We will seek to ascertain if the information constitutes the sixth barrier. The study was conducted in a mobile banking context representing an innovation with currently relatively low usage rates by consumers but with high future success expectations on the part of the service providers. An online questionnaire was developed and 1,540 responses among mobile banking non-users were collected. The results of the Principal Component Analysis suggest that information constitutes a distinct sixth factor explaining consumer resistance to innovations.