新兴网络平台的发展需要吸引有市场运营经验和能力的商家加盟。本研究以新兴网络折扣平台为例，以电商平台中特定行业(某电子消费品行业)里的中小商家为观察样本，结合动态能力理论，运用个体面板固定效应模型，探究以免费引流为主的高客户运营能力的商家和以付费引流为主的低客户运营能力的商家对新兴网络折扣平台的采纳意愿，并分析了影响采纳意愿的边界条件。本研究的结果表明，保持竞争优势和减少流量依赖是影响上述两类商家采纳新兴网络折扣平台的主要动机。但是在品牌强度与用户黏度的调节作用下，不同流量来源的商家对新兴网络折扣平台的采纳度又会有所差异。本研究不仅丰富了新兴网络平台入驻的相关研究，也为中小商家的引流策略带来了新的启示。

The development of emerging online platforms relies on attracting merchants with market operation experiences and capabilities. Taking the emerging online discount platform as an example, this study uses small and medium-sized merchants in a specific industry (e. g. , consumer electronics industry) as the observation sample, and employs an individual panel fixed effects model combined with Dynamic Capability Theory to explore the wilingness of merchants with high customer operating capability who mainly attract free traffic, and the willingness of merchants with low customer operating capability who mainly attract paid traffic to adopt the emerging online discount platform, and analyses the boundary conditions that affect the willingness for adoption. The findings suggest that maintaining a competitive advantage and reducing traffic dependency are the main motivations influencing the adoption of emerging online discount platforms by both types of merchants. However, under the moderating effects of brand strength and user viscosity, the adoption of emerging online discount platforms varies among merchants with different traffic sources. This study enriches the research related to emerging online platforms' adoption and sheds new light on merchants' traffic attraction strategies.