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Retail pricing format and rigidity of regular prices

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  • Sourav Ray
  • Avichai Snir
  • Daniel Levy

Abstract

We study the rigidity of regular and sale prices, and how it is affected by pricing formats (i.e. pricing strategies). We use data from three large Canadian stores with different pricing formats (Every‐Day‐Low‐Price, Hi‐Lo and Hybrid) that are located within a 1 km radius of each other. Our data contain both the actual transaction prices and actual regular prices as displayed on the store shelves. We combine these data with two ‘generated’ regular price series (filtered prices and reference prices) and study their rigidity. Regular price rigidity varies with store formats because different format stores treat sale prices differently, and consequently define regular prices differently. Correspondingly, the meanings of price cuts and sale prices vary across store formats. To interpret the findings, we consider the store pricing format distribution across the USA and Canada.

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  • Sourav Ray & Avichai Snir & Daniel Levy, 2023. "Retail pricing format and rigidity of regular prices," Economica, London School of Economics and Political Science, vol. 90(360), pages 1173-1203, October.
  • Handle: RePEc:bla:econom:v:90:y:2023:i:360:p:1173-1203
    DOI: 10.1111/ecca.12492
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    Cited by:

    1. Snir, Avichai & Chen, Haipeng (Allan) & Levy, Daniel, 2022. "Zero-Ending Prices, Cognitive Convenience, and Price Rigidity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 203, pages 519-542.
    2. Doron Sayag & Avichai Snir & Daniel Levy, 2024. "Small Price Changes, Sales Volume, and Menu Cost," Papers 2403.07166, arXiv.org.

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    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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