Abstract

Crowdfunding is a funding mechanism in which consumers voluntarily support projects prior to product production, differing fundamentally from conventional purchase transactions. Although prior research has primarily examined content-related factors such as image count or the mere presence of price discounts on crowdfunding performance, little is known about how the effectiveness of such information varies by the level of product involvement. Drawing on a large-scale dataset from Korea’s leading crowdfunding platform, Wadiz, this study investigates how price discount information and product involvement jointly shape funding performance. The empirical analysis reveals that providing price discount information serves as a monetary benefit cue that significantly enhances crowdfunding success. Moreover, projects offering high-involvement products achieve greater funding outcomes, driven by consumers’ stronger motivations for information seeking and self-expression. However, for high-involvement products, price discount information weakens performance, suggesting that consumers may interpret discounts as signals of lower quality or diminished authenticity. Our findings contribute to the literature by extending the understanding of price promotion effects beyond traditional commerce contexts, integrating product involvement as a key boundary condition. From a managerial perspective, the results highlight the need for differentiated communication strategies: emphasizing monetary benefits for low-involvement products and authenticity- or value-based storytelling for high-involvement products.