Consumers' value perceptions across retail outlets: shopping at mass merchandisers and department stores
Today value is considered a key hallmark of US shoppers. Although research has examined consumer perceived value (CPV) in the context of shopping in general, this study provides specifics about CPV in the context of consumers’ shopping experiences in two dominant retail outlets – mass merchandisers and department stores – where value provision and value seeking may be shifting. Using Dewey's (1939. Theory of valuation. In International encyclopedia of Unified Science, ed.O. Neurath, R. Carnap, and C. Morris, Vol. 2, 1–67. Chicago: The University of Chicago Press.) value theory as a framework and conducting both qualitative and quantitative analyses, the research identified, validated, and tested nine value dimensions sought by consumers when shopping in mass merchandisers and department stores: acquisition, transaction, efficiency, choice, exploration, esthetic, self-gratification, social interaction, and social status value. The study findings suggested that mass merchandisers may want to be careful in moving too far from their historic value proposition of low price and convenient shopping, while department stores may want to improve their provision of the exchange values currently so important to consumers, while finding new, creative ways to provide their historic value offerings of service and entertainment.
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Document Type: Research Article
Publication date: 2012-05-01