Business, Management and Accounting
8 years ago

Consumers' Price Knowledge Better Than Expected in Finnish Grocery Market!

Journal of Product & Brand Management
Actual market prices and consumer price knowledge
Ville Aalto‐Setälä, Anu Raijas

Paper Summary

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Consumer price knowledge in the Finnish grocery market was examined by comparing actual market prices with consumer price estimates. While individual consumer estimates differed from actual prices, the median estimates were close to market prices for most products. This suggests that consumer price knowledge is better than previously thought. Differences in market price variation may explain some of the discrepancies.