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Cooling off and backing out: Understanding consumer decisions to rescind a product purchase

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  • Sparks, Beverley A.
  • Bradley, Graham L.
  • Jennings, Gayle R.
  • Johnston, Nicole R.

Abstract

Consumers sometimes have the right to exit a sales contract during what is known as a cooling-off period. Sales process research generally does not address cases when consumers withdraw from sales contracts during this period. Since securing product sales involves substantial marketing and sales costs, a need exists to better understand not only consumer rescission decisions and their legal context but also the managerial implications of the cooling-off period. This exploratory qualitative study examines purchase rescinding and develops a conceptual model using timeshare as the context. Results suggest that rescission relates to a mismatch between product features and personal circumstances, post-purchase concerns about product value, reassessment of financial capability, reflections on sales presentations, and cautionary influences of reference groups.

Suggested Citation

  • Sparks, Beverley A. & Bradley, Graham L. & Jennings, Gayle R. & Johnston, Nicole R., 2014. "Cooling off and backing out: Understanding consumer decisions to rescind a product purchase," Journal of Business Research, Elsevier, vol. 67(1), pages 2903-2910.
    • Handle: RePEc:eee:jbrese:v:67:y:2014:i:1:p:2903-2910
    DOI: 10.1016/j.jbusres.2012.06.003
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    References listed on IDEAS

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    Cited by:

    1. Pandy Wayde R. & Rogerson Christian M., 2014. "The making of the South African timeshare industry: spatial structure and development challenges," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 26(26), pages 1-19, December.
    2. Popovich, Deidre & Hamilton, Ryan, 2021. "Intermediate Choice Lists: How Product Attributes Influence Purchase Likelihood in a Self-Imposed Delay," Journal of Retailing, Elsevier, vol. 97(2), pages 251-266.
    3. Courtenay Atwell, 2015. "The Franchisee as a Consumer: Determining the Optimal Duration of Pre-Contractual Disclosure," Journal of Consumer Policy, Springer, vol. 38(4), pages 457-489, December.
    4. David J Butler, 2018. "Phishing holidays," Tourism Economics, , vol. 24(6), pages 690-700, September.

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