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Horticulturae 2018, 4(3), 13; https://doi.org/10.3390/horticulturae4030013

Assessing Purchase Patterns of Price Conscious Consumers

1
Mid-Florida Research and Education Center, University of Florida, Apopka, FL 32703, USA
2
Food and Resource Economics Department, Mid-Florida Research and Education Center, University of Florida, Apopka, FL 32703, USA
*
Author to whom correspondence should be addressed.
Received: 19 May 2018 / Revised: 14 June 2018 / Accepted: 21 June 2018 / Published: 2 July 2018
(This article belongs to the Special Issue Marketing Strategies of Horticultural Production Chain)
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Abstract

Price greatly influences consumers’ purchasing decisions. Individuals whose decisions are primarily driven by price are said to be ‘price conscious’. To date, studies have focused on defining price consciousness and identifying factors that contribute to price-conscious behavior. However, research using visual attention to assess how price conscious consumers use in-store stimuli is limited. Here, consumers’ purchasing decisions are assessed using a rating-based conjoint analysis paired with eye tracking technology when shopping for ornamental plants. An ordered logit model is employed to understand price conscious consumers’ purchase patterns and choice outcomes. Overall, price conscious consumers are less attentive to price information. Being price conscious tends to reduce purchase likelihood, ceteris paribus. Increasing visual attention to price decreases consumers’ purchase likelihood, which is amplified for price conscious consumers. Price conscious consumers tend to be quicker decision makers than non-price conscious consumers. Results are beneficial to retailers interested in targeting or primarily catering to price conscious consumers. View Full-Text
Keywords: price consciousness; visual attention; in-store signage; ornamental plants; conjoint analysis price consciousness; visual attention; in-store signage; ornamental plants; conjoint analysis
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Rihn, A.; Khachatryan, H.; Wei, X. Assessing Purchase Patterns of Price Conscious Consumers. Horticulturae 2018, 4, 13.

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