Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review

Jason Sit; Erica Ballantyne; Jonathan Gorst

Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review

Jason Sit^*
, Erica Ballantyne
, Jonathan Gorst

^*Corresponding author for this work

School of Strategy, Marketing and Innovation

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

Today’s retailers operate in a highly competitive environment. The competitive threat can significantly escalate during a financial-hardship event (Yun & Hanson, 2020), but the source does not originate immediately from other retailers. It is instead from consumers who become acutely price sensitive and, in turn, change their shopping habits and adjust spending to protect (or reserve) their financial resources and desired lifestyles (Goswami & Chouhan, 2021). These behaviours are theorised as protection motivation (Floyd et al., 2000).

Given the limited attention on CPS and financial hardship events, the present study seeks to contribute to the literature by i) challenging the mentioned belief about CPS and financial hardship and ii) exploring the extent to which CPS unquestionably results in consumers’ negative shopping behaviours during times of financial hardship. The protection motivation theory guides the exploration and prompts the researchers to consider the effects of CPS on related shopper behaviour via the lens of threat and coping appraisals.

Original language	English
Title of host publication	8th Colloquium on European Research in Retailing 2023
Editors	Marta Nieto Garcia, Diletta Acuti, Jason Sit, Xavier Brusset
Place of Publication	Portsmouth
Pages	99-104
Number of pages	6
Volume	8
ISBN (Electronic)	978 1 86137 678 7
Publication status	Published - 21 Jun 2023
Event	8th Colloquium on European Research and Rtailing 2023 - University of Portsmouth, Portsmouth, United Kingdom Duration: 21 Jun 2023 → 23 Jun 2023 https://cerr.sciencesconf.org/

Conference

Conference	8th Colloquium on European Research and Rtailing 2023
Abbreviated title	CERR
Country/Territory	United Kingdom
City	Portsmouth
Period	21/06/23 → 23/06/23
Internet address	https://cerr.sciencesconf.org/

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 12 Responsible Consumption and Production

Keywords

Price senstivity,
Coping behaviour
Social learning
Market segmentation

Access to Document

https://cerr.sciencesconf.org/

1 Abstract
1 Article

The collapse of The Body Shop shows that ‘ethical’ branding is not a free pass to commercial success
Sit, J., 15 Feb 2024, The Conversation.
Research output: Contribution to specialist publication › Article

Open Access
Profiling shoppers’ coping behaviours during a pandemic crisis: A regulatory focus perspective
Sit, J., Ballantyne, E. & Gorst, J., 23 Jul 2022, p. 124. 1 p.
Research output: Contribution to conference › Abstract › peer-review

Open Access

CERR: Colloquium on European Research in Retailing 2023
Sit, J. (PI), Acuti, D. (CoI) & Nieto-Garcia, M. (CoI)
Project: Research

Cost of Living: Are you using your credit card more?
Sit, J.
5/10/22 → 17/11/22
1 item of Media coverage, 2 Media contributions
Press/Media: Expert comment

Cite this

@inproceedings{44ef367602234e3dbc91a6cce920129b,

title = "Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review",

abstract = "Today{\textquoteright}s retailers operate in a highly competitive environment. The competitive threat can significantly escalate during a financial-hardship event (Yun \& Hanson, 2020), but the source does not originate immediately from other retailers. It is instead from consumers who become acutely price sensitive and, in turn, change their shopping habits and adjust spending to protect (or reserve) their financial resources and desired lifestyles (Goswami \& Chouhan, 2021). These behaviours are theorised as protection motivation (Floyd et al., 2000). Given the limited attention on CPS and financial hardship events, the present study seeks to contribute to the literature by i) challenging the mentioned belief about CPS and financial hardship and ii) exploring the extent to which CPS unquestionably results in consumers{\textquoteright} negative shopping behaviours during times of financial hardship. The protection motivation theory guides the exploration and prompts the researchers to consider the effects of CPS on related shopper behaviour via the lens of threat and coping appraisals.",

keywords = "Price senstivity,, Coping behaviour, Social learning, Market segmentation",

author = "Jason Sit and Erica Ballantyne and Jonathan Gorst",

note = "No ISSN; 8th Colloquium on European Research and Rtailing 2023, CERR ; Conference date: 21-06-2023 Through 23-06-2023",

year = "2023",

month = jun,

day = "21",

language = "English",

volume = "8",

pages = "99--104",

editor = "\{Nieto Garcia\}, Marta and Diletta Acuti and Jason Sit and Xavier Brusset",

booktitle = "8th Colloquium on European Research in Retailing 2023",

url = "https://cerr.sciencesconf.org/",

}

Sit, J, Ballantyne, E & Gorst, J 2023, Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review. in M Nieto Garcia, D Acuti, J Sit & X Brusset (eds), 8th Colloquium on European Research in Retailing 2023. vol. 8, Portsmouth, pp. 99-104, 8th Colloquium on European Research and Rtailing 2023, Portsmouth, United Kingdom, 21/06/23. <https://cerr.sciencesconf.org/>

Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review. / Sit, Jason; Ballantyne, Erica; Gorst, Jonathan.
8th Colloquium on European Research in Retailing 2023. ed. / Marta Nieto Garcia; Diletta Acuti; Jason Sit; Xavier Brusset. Vol. 8 Portsmouth, 2023. p. 99-104.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

TY - GEN

T1 - Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review

AU - Sit, Jason

AU - Ballantyne, Erica

AU - Gorst, Jonathan

N1 - No ISSN

PY - 2023/6/21

Y1 - 2023/6/21

N2 - Today’s retailers operate in a highly competitive environment. The competitive threat can significantly escalate during a financial-hardship event (Yun & Hanson, 2020), but the source does not originate immediately from other retailers. It is instead from consumers who become acutely price sensitive and, in turn, change their shopping habits and adjust spending to protect (or reserve) their financial resources and desired lifestyles (Goswami & Chouhan, 2021). These behaviours are theorised as protection motivation (Floyd et al., 2000). Given the limited attention on CPS and financial hardship events, the present study seeks to contribute to the literature by i) challenging the mentioned belief about CPS and financial hardship and ii) exploring the extent to which CPS unquestionably results in consumers’ negative shopping behaviours during times of financial hardship. The protection motivation theory guides the exploration and prompts the researchers to consider the effects of CPS on related shopper behaviour via the lens of threat and coping appraisals.

AB - Today’s retailers operate in a highly competitive environment. The competitive threat can significantly escalate during a financial-hardship event (Yun & Hanson, 2020), but the source does not originate immediately from other retailers. It is instead from consumers who become acutely price sensitive and, in turn, change their shopping habits and adjust spending to protect (or reserve) their financial resources and desired lifestyles (Goswami & Chouhan, 2021). These behaviours are theorised as protection motivation (Floyd et al., 2000). Given the limited attention on CPS and financial hardship events, the present study seeks to contribute to the literature by i) challenging the mentioned belief about CPS and financial hardship and ii) exploring the extent to which CPS unquestionably results in consumers’ negative shopping behaviours during times of financial hardship. The protection motivation theory guides the exploration and prompts the researchers to consider the effects of CPS on related shopper behaviour via the lens of threat and coping appraisals.

KW - Price senstivity,

KW - Coping behaviour

KW - Social learning

KW - Market segmentation

UR - https://cerr.sciencesconf.org/data/pages/Book_of_Proceedings_2023.pdf

M3 - Conference contribution

VL - 8

SP - 99

EP - 104

BT - 8th Colloquium on European Research in Retailing 2023

A2 - Nieto Garcia, Marta

A2 - Acuti, Diletta

A2 - Sit, Jason

A2 - Brusset, Xavier

CY - Portsmouth

T2 - 8th Colloquium on European Research and Rtailing 2023

Y2 - 21 June 2023 through 23 June 2023

ER -

Consumers' price sensitivity (CPS) during times of a financial-hardship event: A critical literature review

Abstract

Conference

UN SDGs

Keywords

Access to Document

Fingerprint

Research output

The collapse of The Body Shop shows that ‘ethical’ branding is not a free pass to commercial success

Profiling shoppers’ coping behaviours during a pandemic crisis: A regulatory focus perspective

Projects

CERR: Colloquium on European Research in Retailing 2023

Press/Media

Cost of Living: Are you using your credit card more?

Cite this