To deliberate or not? The effects of anticipated regret and deliberation on willingness-to-pay

Product type and anticipated regret: The key to unlocking consumer upgrade intention

“…Regret regulation theory suggests that because regret is a negative and unpleasant emotion, consumers strive to avoid it (Feiler & Müller‐Trede, 2022; Sameeni et al, 2022; Zeelenberg & Pieters, 2007). Prior to making a decision, consumers thus engage in regret regulation by anticipating potential regretful outcomes (Ang et al, 2022; Hetts et al, 2000; McConnell et al, 2000). Our research indicates that anticipated regret plays a critical role in consumer upgrade.…”

“…When there is more than one option to choose from (e.g., a basic version or a premium version), making a purchase decision therefore entails giving up the other option(s), which inevitably leads to regret (Feiler & Müller‐Trede, 2022; Xiao & Spanjol, 2021). In such situations, consumers typically use anticipated regret, the process of predicting and assessing the potential regret emotions associated with a potential decision, to regulate their actual regret (Ang et al, 2022; Hetts et al, 2000; McConnell et al, 2000). In other words, consumers anticipate regret when considering how they will be influenced by their purchase decision and choice (Di et al, 2022; Khan et al, 2019; Shih & Schau, 2011).…”

“…Past studies have also shown that anticipated regret influences various consumer behaviors, such as WTP (Ang et al, 2022), attitude toward foreign products (Khan et al, 2019), healthy behavior (Chun et al, 2019; Lagerkvist et al, 2015), and information security (Verkijika, 2019). From the firm perspective, salient research has primarily explored the relationship between anticipated regret and upgrade intention (Jiang et al, 2017).…”

“…Regret regulation theory holds that consumers aim to reduce their regret (Feiler & Müller‐Trede, 2022; Zeelenberg & Pieters, 2007). Previous research on anticipated regret has focused primarily on consumers' willingness to pay (WTP) (Ang et al, 2022), attitudes toward foreign products (Khan et al, 2019), and healthy behavior (Chun et al, 2019). Some authors have also considered the brand level to explore the anticipated regret of an upgrade in the postpurchase stage (Jiang et al, 2017; Shih & Schau, 2011).…”

Preference for Experiential or Material Purchases?The Impact of Message Framing

“…More importantly, previous research has also documented that anticipated regret has a positive impact on individuals' purchase intention (Park, Ramesh, & Cao, 2016;Zhu, Wang, Li, Liu, & Zhu, 2020) and repeat purchases (Inman & Zeelenberg, 2002). Moreover, anticipated regret can increase the price that individuals' willingness to pay for a product or service (Ang, Diecidue, & Dewitte, 2022). Therefore, a higher anticipated regret will increase consumers' purchase intention.…”