Influence of price endings on price recall: a by‐digit analysis

Robert M. Schindler · Rajesh Chandrashekaran

27 citations0/0 files storedJournal of Product & Brand Management

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Consumer Market Behavior and Pricing Decision-Making and Behavioral Economics Consumer Retail Behavior Studies

Abstract

Although it has been proposed that recall processes play a role in the retail sales effects of 9‐ending pricing, substantial effects of price endings on the level of recalled prices has not been demonstrated. With an improved testing procedure, it is found that the level of a set of prices with low ending digits (such as 1 or 2 in the dollars place) is more likely to be overestimated in recall than the level of equivalent sets of prices with high ending digits (such as 6, 7, or 9 in the dollars place). The results of the study support the role of left‐to‐right processing of price information and point out some consequences for retailers of the use of low numbers in price‐ending digits.

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References

1990The Price Knowledge and Search of Supermarket Shoppers 1999A Short, Reliable Measure of Subjective Knowledge 1994Contextual and Temporal Components of Reference Price 1999Remembering versus Knowing: Issues in Buyers' Processing of Price Information 1983Determinant Attributes in Retail Patronage: Seasonal, Temporal, Regional, and International Comparisons 1997Patterns of Rightmost Digits Used in Advertised Prices: Implications for Nine‐Ending Effects 1997An Empirical Analysis of Price Endings with Scanner Data 2002Measuring the Price Knowledge Shoppers Bring to the Store

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