When Technology Signals Trust: Blockchain vs. Traditional Cues in Cross-Border Cosmetic E-Commerce

Using platform self-operation, customer reviews, and compensation commitments as traditional benchmarks, this study foregrounds blockchain traceability as a technology-enabled authenticity signal in cross-border cosmetic e-commerce (CBEC). Using an 8-scenario orthogonal experiment, we test a model in which perceived risk mediates the effects of authenticity signals on purchase intention. We probe blockchain boundary conditions by examining their interactions with traditional signals. Our results show that blockchain is the only signal with a significant direct effect on purchase intention and that it also exerts an indirect effect by reducing perceived risk. While customer reviews show no consistent effect, self-operation and compensation influence purchase intention indirectly via risk reduction. Moderation tests indicate that blockchain is most effective in low-trust settings—i.e., when self-operation, reviews, or compensation safeguards are absent or weak—while this marginal impact declines when such safeguards are strong. These findings refine signaling theory by distinguishing a technology-backed signal from institutional and social signals and by positioning perceived risk as the central mechanism in CBEC cosmetics. Managerially speaking, blockchain should serve as the anchor signal in high-risk contexts and as a reinforcing signal where traditional assurances already exist. Future work should extend to field/transactional data and additional signals (e.g., brand reputation, third-party certifications).