THE APPEAL OF NOVELTY: THE EFFECT OF PRICE TAG PRESENTATION ON THE PURCHASE INTENTION OF NEW PRODUCTS

O APELO DA NOVIDADE: O EFEITO DA APRESENTAÇÃO DA ETIQUETA DE PREÇO NA INTENÇÃO DE COMPRA DE NOVOS PRODUTOS

EL ATRACTIVO DE LA NOVEDAD: LOS EFECTOS DE LA PRESENTACIÓN DE PRECIOS SOBRE LA INTENCIÓN DE COMPRAR NUEVOS PRODUCTOS

ABSTRACT

The present study investigates the influence of price tag presentation on the purchase intention of new products available at a retail store. A 2 (Price tag: present or absent) x 2 (Informational tag: present or absent) design between-subjects experiment was conducted with 195 U.S. participants recruited through an online panel (i.e., Figure Eight). Consumers present higher purchase intentions for products with a novelty appeal (e.g., marked with a “New” tag) when also presented with the price tag, giving them an idea that a novel product is being sold. Curiously, if the product is not marketed with any informational tag (e.g., “New”), the lack of price presentation increases purchase intention. Besides that, when people consider the product at least ‘more or less’ expensive, the informational tag “New” triggers a higher purchase intention compared to the lack of the informational tag. This research significantly contributes to both theory and practice, demonstrating how retailers can effectively communicate new products in both online and offline retailing.

Keywords:
Price Presentation; Informational Tags; New Product; Retail