The Effect of Different Price Presentations on Consumer Impulse Buying Behavior: The Role of Anticipated Regret

DOI: 10.4236/ajibm.2015.51004   PDF   HTML   XML   7,682 Downloads   10,163 Views   Citations


Previous research has shown that personal qualities and shopping situations affect choice of consumer impulse buying behavior during sales promotion. When implementing a price reduction, retailers tend to favor one practice over the other. Yet how different implementations of a price promotion influence consumer impulse buying behavior has been insufficiently studied. Here, we framed a price reduction in the amount of money versus percentage on products to investigate how the underlying mechanism (anticipated regret) influences likelihood to impulse buying. Compared with percentage-off presentation, the findings indicate that presentation shown at the amount of money leads to higher anticipated regret and consumer impulse buying intention. We also find that the price level of product is the boundary condition, which plays a moderating role.

Share and Cite:

Zhou, H. and Gu, Z. (2015) The Effect of Different Price Presentations on Consumer Impulse Buying Behavior: The Role of Anticipated Regret. American Journal of Industrial and Business Management, 5, 27-36. doi: 10.4236/ajibm.2015.51004.

Conflicts of Interest

The authors declare no conflicts of interest.


[1] Kahneman, D. and Tversky, A. (1979) Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47, 263-291.
[2] Krishna, R.B., Lehman, D.R. and Yuan, H. (2002) A Meta-Analysis of the Impact of Price Presentation on Perceived Savings. Journal of Retailing, 78, 101-118.
[3] DelVecchio, D., Krishnan, H.S. and Smith, D.C. (2007) Cents or Percent? The Effects of Promotion Framing on Price Expectations and Choice. Journal of Marketing, 71, 158-170.
[4] Chen, S.-F.S., Monroe, K.B. and Lou, Y.-C. (1998) The Effects of Framing Price Promotion Messages on Consumers’ Perceptions and Purchase Intentions. Journal of Retailing, 74, 353-372.
[5] Grewal, D. and Marmorstein, H. (1994) Market Price Variation, Perceived Price Variation and Consumers’ Price Search Decisions for Durable Goods. Journal of Consumer Research, 21, 452-460.
[6] Heath, T.B., Chatterjee, S. and France, K.R. (1995) Mental Accounting and Change in Price: The Frame Dependence of Preference Dependence. Journal of Consumer Research, 22, 90-97.
[7] Kim, H.M. and Kramer, T. (2006) The Moderating Effects of Need for Cognition Effort on Responses to Multi-Dimensional Prices. Marketing Letters, 17, 193-203.
[8] Kim, H.M. and Kramer, T. (2006) “Pay 80%” versus “Get 20% off”: The Effect of Novel Discount Presentation on Consumers’ Deal Perceptions. Marketing Letters, 17, 311-321.
[9] Simonson, I. (1992) The Influence of Anticipating Regret and Responsibility on Purchase Decision. Journal of Consumer Research, 19, 105-118.
[10] Inman, J.J., Dyer, J.S. and Jia, J. (1997) A Generalized Utility Model of Disappointment and Regret Effects on Post-Choice Valuation. Marketing Science, 16, 97-111.
[11] Inman, J.J. and Zeelenberg, M. (2002) Regret in Repeat Purchase versus Switching Decisions: The Attenuating Role of Decision Justifiability. Journal of Consumer Research, 29, 116-128.
[12] Zeelenberg, M. and Pieters, R. (1999) Comparing Service Delivery to What Might Have Been: Behavioral Responses to Regret and Disappointment. Journal of Service Research, 2, 86-97.
[13] Medvec, V.H., Madey, S.F. and Gilovich, T. (1995) When Less Is More: Counterfactual Thinking and Satisfaction among Olympic Medalists. Journal of Personality & Social Psychology, 69, 603-610.
[14] Bell, D.E. (1982) Regret in Decision Making under Uncertainty. Operations Research, 30, 961-981.
[15] Loomes, G. and Sugden, R. (1982) Regret Theory: An Alternative Theory of Rational Choice under Uncertainty. Economic Journal, 92, 805-824.
[16] Zeelenberg, M., Beattie, J., van der Plight, J. and de Vries, N.K. (1996) Consequences of Regret Aversion: Effect of Expected Feedback on Risky Decision Making. Organizational Behavior and Human Decision Processes, 65, 148-158.
[17] Larick, R.P. and Boles, T.L. (1995) Avoiding Regret in Decisions with Feedback: A Negotiation Example. Organizational Behavior and Human Decision Processes, 63, 87-97.
[18] Tykocinski, O. and Pittman, T. (2001) Product Aversion Following a Missed Opportunity: Price Contrast or Avoidance of Anticipated Regret. Basic and Applied Social Psychology, 23, 149-156.
[19] Stern, H. (1962) The Significance of Impulse Buying Today. Journal of Marketing, 26, 59-62.
[20] Beatty, S.E. and Ferrell, M.E. (1998) Impulse Buying: Modeling Its Precursors. Journal of Retailing, 74, 169-191.
[21] Dholakia, U.M. (2000) Temptation and Resistance: An Integrated Model of Consumption Impulse Formation and Enactment. Psychology & Marketing, 17, 955-982.<955::AID-MAR3>3.0.CO;2-J
[22] Zhou, L. and Wong, A. (2004) Consumer Impulse Buying and In-Store Stimuli in Chinese Supermarkets. Journal of International Consumer Marketing, 16, 37-53.
[23] Tsiros, M. and Mittal, V. (2000) Regret: A Model of Its Antecedents and Consequences in Consumer Decision Making. Journal of Consumer Research, 26, 401-417.
[24] Cooke, A.D.J., Meyvis, T. and Schwartz, A. (2001) Avoiding Future Regret in Purchase-Timing Decision. Journal of Consumer Research, 27, 447-459.
[25] Yin, C.Y. and Yu, H.Y. (2009) The Impact of Anticipated Regret on Consumer Impulse Buying Behavior. Management Review, 21, 71-93.
[26] McConnell, A.R., Niedermeier, K.E., Leibold, J.M., El-Alayli, A.G., Chin, P.P. and Kuiper, N.M. (2000) What If I Find It Cheaper Someplace Else? Role of Prefactual Thinking and Anticipated Regret in Consumer Behavior. Psychology & Marketing, 17, 281-298.<281::AID-MAR2>3.0.CO;2-5
[27] Aydinli, A., Bertini, M. and Lambrecht, A. (2014) Price Promotion for Emotional Impact. Journal of Marketing, 78, 80-96.
[28] Chen, S.F.S., Monroe, K.B. and Lou, Y.C. (1998) The Effects of Framing Price Promotion Messages on Consumers’ Perceptions and Purchase Intentions. Journal of Retailing, 74, 353-372.
[29] Dittmar, H., Beattie, J. and Friese, S. (1995) Gender Identity and Material Symbols: Objects and Decision Considerations in Impulse Purchases. Journal of Economic Psychology, 16, 491-511.
[30] Tsiros, M. and Hardesty, D.M. (2010) Ending a Price Promotion: Retracting It in One Step or Phasing It out Gradually. Journal of Marketing, 74, 49-64.

comments powered by Disqus

Copyright © 2020 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.