Differences between foreign and domestic senior managers in retail IoT adoption

Purpose The study uses the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) model to explore senior managers' acceptance of Internet of Things (IoT) technologies in a brick-and-mortar retail environment in an emerging market. Design/methodology/approach Data was collected from 28 senior retail business managers in Serbia. The research employs fuzzy-set Qualitative Comparative Analysis (fsQCA) and is rooted in an extended UTAUT2 model by identifying how foreign and domestic companies differ in terms of IoT acceptance in an emerging market context. Findings The findings define four different configural pathways for high managerial Behavioral Intention to accept IoT technologies in a brick-and-mortar context and identify Performance Expectancy as a necessary condition. The results show that in foreign-owned companies Social Influence and Risk Perception emerge as relevant conditions for high IoT acceptance intention, in contrast to firms with domestic capital. Originality/value The present research explores the adoption of IoT technology using the fsQCA methodology within the UTAUT2 model framework. It extends the literature on the application of IoT in the retail context to emerging markets. The identification of domestic/foreign ownership as a condition influencing Behavioral Intention to adopt IoT is novel to UTAUT2 and has not previously been explored in this context. Contrary to previous studies, this condition was found to be highly relevant in the present research.