Integrating emotions in the analysis of retail price images

Most studies on retail price images do not capture the complete domain of this construct because they predominantly measure the cognitive dimensions of price perception. The current paper extends this research by integrating emotions in the analysis of retail price images. Results from an empirical study demonstrate that several price‐related emotions mediate the impact of cognitive price image dimensions on intentions to shop in retail stores. Such effects exist for distress, anger, contempt, shame, and guilt. Furthermore, these emotions have an incremental effect on shopping intentions beyond the mere cognitive price image dimensions. Hence, integrating these emotions in the analysis of retail price images improves the prediction of such intentions considerably. An analysis of direct, indirect, and total effects shows that price‐level perception influences shopping intentions negatively via increased contempt, shame, and guilt, but positively via value for money. Value proves to be a central dimension of a retailer's price image as value influences shopping intentions directly, but also via reduced distress, anger, contempt, shame, and guilt. The results yield important research and management implications, as integrating emotions in the analysis of retail price images extends the understanding of customer reactions to retailers' pricing activities. © 2011 Wiley Periodicals, Inc.