An examination of reference prices at factory outlet stores

Clodfelter, Richard; Fowler, Deborah

doi:10.1080/0959396032000099079

Cited by 6 publications

(4 citation statements)

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“…In situations where the same products are available in department stores and in factory outlet stores, there is some evidence that the external reference prices used in factory outlet stores are, on average, 6 per cent higher than the regular selling prices in department stores (Clodfelter and Fowler, 2003). If this tends to be the case on average universally, the present research may provide a clue as to why.…”

Section: Discussionmentioning

confidence: 99%

“…Compared to other bricks and mortar store types-like department stores that are experiencing spiraling downturns (Kurtzleben, 2014), outlet stores are a growing segment of the retail marketscape (Humphers, 2015). Factory outlet stores rely on using external reference prices (Clodfelter and Fowler, 2003). Moreover, as noted earlier, cue-less reference prices are being used within this store type.…”

Section: Introductionmentioning

confidence: 99%

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Cue-less consumers in factory outlet stores: reference price effects on consumer evaluations when semantic phrases are missing

Carlson

Compeau

2018

JPBM

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Purpose Prior research has demonstrated that reference prices can affect consumer responses, but the reference prices examined have been presented along with semantic cues [e.g. manufacturer’s suggested retail price (MSRP) and Compare At]. This study is unique in investigating the effects of reference prices that do not include a semantic cue (i.e. “cue-less”) on consumers’ responses. It also studies consumers’ beliefs about factory outlet stores, a seldom-studied store type in which cue-less reference prices are used. Design/methodology/approach One qualitative study and one experiment were carried out in this research. Findings The qualitative study revealed that a price tag including cue-less reference prices was unlikely to be viewed as a seller mistake or with suspicion, but nonetheless did confuse some respondents. The experiment demonstrated that while consumers find cue-less reference prices to be somewhat less believable that high MSRPs, these beliefs do not appear to come into play when consumers judge attractiveness (e.g. perceived value). Additionally, the results suggest that consumers believe that a product available for sale in a factory outlet store is likely to have been previously available at a different type of store. Originality/value This research advances the theory of the effects of reference prices on consumers’ responses by examining the common practice of not labeling reference prices with semantic cues. It also extends the literature regarding consumer beliefs about factory outlet stores.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Cue-less consumers in factory outlet stores: reference price effects on consumer evaluations when semantic phrases are missing

Carlson

Compeau

2018

JPBM

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“…Nevertheless, the literature on this subject is surprisingly limited given its importance. Clodfelter and Fowler (2003) in examining reference prices at American factory outlet stores highlight the potentially deceptive made for outlet merchandise. This product often resembles full price items, although it has fundamental differences in stitching, fabric or country of origin.…”

Section: Supply Chain and Fashion Market Trendsmentioning

confidence: 99%

An examination of tenant evolution within the UK factory outlet channel

Jones¹

2007

International Journal of Retail &Amp; Distribution Management

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Purpose -The research paper examines the commercial evolution of retail tenants within the UK factory outlet sector. The research aims to identify the key characteristics of commercialisation and the resulting strategic positions occupied by tenants. Design/methodology/approach -The paucity of research surrounding the research objectives necessitated exploratory research based on 32 in-depth interviews conducted with factory outlet tenants, managers and owners. Findings -The research presents four tenant segments used to analyse commercial evolution. Although many tenants are initially pushed into the channel to solve a physical stock problem they invariably increase their level of commercialisation as they apply the experience curve, economies of scale and opportunism. Ultimately, the key to commercialisation lies in the ability of a factory outlet tenant to make adjustments to their retail business model, through sales productivities and improved cost ratios. The single biggest adjustment lies in the potential of made for outlet merchandise which secures both product continuity and enhanced margin. Originality/value -The research provides a conceptual framework for evaluating the relevance of current factory outlet leasing and performance management programmes. Practical application of the framework will require a correlation to be established between the stages of commercialisation and actual sales performance across a wider sample of tenants. The finding provide possible stepping stones to further research within the sector, not least the evolutionary pattern of factory outlet tenants across Europe. The findings provoke many questions related to the role of outlets within a tenant's overall multi-channel distribution strategy. The sophistication of certain tenants' outlet business models and the high level of integration across channel of distribution suggest factory outlet centres are becoming increasingly accepted as part of mainstream growth strategies.

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“…Lack of satisfaction may result from a slow buying or manufacturing process, or from the inability to provide quantities without stocks. Clodfelter and Fowler (2003), according to the author, a high-quality record management system has the following reward: the suitable connection between sales and inventory can be better managed. Inventory organization systems provide a company with the information required to take markdowns by detecting slow-selling products.…”

Section: Introductionmentioning

confidence: 99%

An Assessment of Inventory Management Practices at the Hospitality Management Department of Takoradi Technical University

Danso

Whyte

Owusu-Akyaw

et al. 2021

jhsss

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Inventory management encompasses a wide variety of tasks. These tasks differ depending on the organization. The study's main goal is to evaluate inventory management activities at Takoradi Technical University's hospitality management department. Non–experimental analysis was used to design the sample. The study's target population was hospitality students with sample sizes of 60 students. Purposive sampling was used to collect data for the analysis. The analysis relied on primary data. To collect data for the analysis, a structured questionnaire was created with both opened-ended and closed-ended questions. Statistical Package for Social Sciences (SPSS) and Microsoft Excel were used to analyze and process the information. Frequency distribution tables, pie charts, and bar charts were used to display the findings. According to the results, the department did a commendable job of resource management in order to provide supplies for the students' practical training. The department's inventory management process was purely commercial and the proper inventory management process was implemented. Regardless, it was recommended that the hospitality department strive to keep inventory under control. Evidence for inventory management and record documentation should also be handy at all times.

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An examination of reference prices at factory outlet stores

Cited by 6 publications

References 0 publications

Cue-less consumers in factory outlet stores: reference price effects on consumer evaluations when semantic phrases are missing

Cue-less consumers in factory outlet stores: reference price effects on consumer evaluations when semantic phrases are missing

An examination of tenant evolution within the UK factory outlet channel

An Assessment of Inventory Management Practices at the Hospitality Management Department of Takoradi Technical University

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