Consumers seek even lower prices as retailers set cheaper produce prices.
Consumers don't just buy the cheapest produce - they compare prices to a reference price in their minds. This study shows that most people look at both the reference price and the actual selling price before deciding to buy. They tend to avoid products that are priced higher than their internal reference price. When stores lower their prices, consumers expect even lower prices next time. This research helps us understand how people judge prices and make decisions when buying fruits and vegetables.