Sit, K., Ballantyne, E. orcid.org/0000-0003-4665-0941 and Gorst, J. (2023) Consumers’ price sensitivity (CPS) during times of a financial-hardship event: a critical literature review. In: Garcia, N., Acuti, D., Sit, J. and Brusset, X., (eds.) Proceedings of the 8th Colloquium on European Research in Retailing 2023. 8th Colloquium on European Research and Rtailing 2023 - University of Portsmouth, Portsmouth, United Kingdom, 22-23 Jun 2023, Portsmouth, United Kingdom. , pp. 99-104. ISBN 978 1 86137 678 7
Abstract
Despite the apparent connection between consumers’ price sensitivity (CPS) and financial hardship events, studies exploring this connection are limited, particularly around resultant shopping behaviour. Reasons for this could be the widespread belief that consumers will no doubt cope negatively (e.g., favouring cheaper brands or switching to lower-quality products) when facing financial hardship or scarcity (Allenby & Lenk, 1995; Srivastava & Gupta, 2022). Hence, the connection seemingly lacks originality or novelty to warrant further investigation. Beyond financial-hardship events, there are many studies on CPS in the consumption context of utilitarian products (e.g. groceries) (Graciola et al., 2018). The CPS’s popularity in this consumption context is understandable and expected, considering people frequently use prices as a proxy indicator of perceived quality and risk to inform their purchase decision (Wakefield & Inman, 2003).
Metadata
Item Type: | Proceedings Paper |
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Authors/Creators: |
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Editors: |
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Copyright, Publisher and Additional Information: | © 2023 |
Keywords: | Price sensitivity; coping behaviour; shopper behaviour; retail marketing; financial hardship |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 31 Jan 2024 17:08 |
Last Modified: | 31 Jan 2024 17:08 |
Status: | Published |
Refereed: | Yes |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:207649 |
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Filename: CERR2023_extended_abstract_authordetails.pdf
