With the digitalization of production and consumption environments, consumers are no longer merely targets of marketing, but key players in creating value jointly with companies by participating in various decision-making processes. Much virtual content in particular, such as fashion shows, exhibitions, games, social activities, and shopping, which fashion brands implement in virtual worlds, cannot be completed without consumers’ active engagement and interaction. Thus, this study considers consumers’ participation in virtual content provided by fashion brands as value co-creation in virtual worlds. This study aims to examine how consumer (i.e., consumer smartness) and fashion firm (i.e., perceived intellectual capital) factors influence value co-creation behavior intention in virtual worlds. Data were collected from 410 consumers in their 20s nationwide through an online survey, and a higher-order structural equation modeling analysis was conducted to test the research model. The results showed that both consumer smartness and perceived intellectual capital positively influenced customer participation behavior and citizenship behavior intentions. Specifically, perceived intellectual capital had a greater impact on value co-creation behavior in the virtual world than consumer smartness. The findings provide empirical evidence that the fashion firms’ intangible assets and consumers’ competence in the digital shopping environment encourage their intentions to co-create value in virtual worlds.

As consumers have transformed into the influential entities in the recent consumption environment, it needs a new concept to describe their characteristics. Drawn on the notion of smart consumer experience, this study views the multiple traits of new consumers as consumer smartness. Therefore, elaborating the concept of consumer smartness, this study aims to develop its measurement and validate it by examining the relationship with external variables. Two online surveys were conducted by a professional survey company that had nationwide consumer panels. A total of 531 adult consumers who had purchased fashion goods online completed a self-administered questionnaires. A series of exploratory and confirmative factor analysis generated 21 measuring items with six underlying constructs of consumer smartness such as innovativeness, opinion leadership, self-disclosure, marketing literacy, dissatisfaction, and technology sophistication. In order to validate the measurement, this study conducted a Pearson’s correlation test and structural equation modeling analysis with consumer smartness and external constructs. The result shows that there was a significant positive relationship between consumer smartness and behavioral intentions online. In addition, consumer smartness influenced their shopping and sharing intention which supported the validity of new measurement of consumer smartness. This study provides a theoretical and empirical ground of understanding consumer smartness as new consumer characteristics in the changing environment of fashion retailing.