Comparing Prices Then and Now – the Store Price Image Determines Reference Price Dominance

Anne Odile Peschel, Aarhus University, Denmark
When evaluating product prices, consumers compare the observed prices to an internally retrieved or externally suggested reference price. Using scanner panel data, I show that while in high price image store formats the internal reference price dominates, in low price image formats, consumer rely more on externally suggested reference prices.
[ to cite ]:
Anne Odile Peschel (2016) ,"Comparing Prices Then and Now – the Store Price Image Determines Reference Price Dominance", in NA - Advances in Consumer Research Volume 44, eds. Page Moreau and Stefano Puntoni, Duluth, MN : Association for Consumer Research, Pages: 754-754.