Experiential value: Multi-item scale development and validation

The present study aims to explore the underlying dimensions of experiential value to provide a holistic view. The study proposes a 16-item scale ‘CEXPVALS’ capturing four distinct dimensions which may be termed as cognitive value, hedonic value, social value and ethical value. The scale items demonstrated that experiential value may be apprehended holistically in terms of quality of services, time, effort and convenience (cognitive value); enjoyment, pleasure and escapism (hedonic value); status, esteem and social approval (social value); trust and privacy (ethical value). Predictive modeling indicated that experiential value predict purchase intention. The extant literature revealed that no study so far has captured a holistic view of experiential value. Thus, this could be seen as a unique and significant contribution to the literature.