Added-value creation in experience-based retail marketing: The effects of physical store experiences on perceived value and price acceptance

While customer journeys increasingly shift online, research suggests that offline interaction between clients and companies is decreasing. However, a literature review indicates that due to a lower amount of physical experiences, offline touchpoints regain importance. To investigate this issue, the role of physical retail spaces is discussed and the impact of offline-created, non-financial value is elaborated. The author argues that the store-end provides significant opportunities for added-value creation within the customer journey. Likewise it is found, that experience-based retail marketing generates additional non-financial value which in turn increases perceived price and improves price acceptance among customers. The author develops first managerial implications for a strategic use of retail space. She further provides theoretical grounds for analyzing the impact of experience-based retail marketing on price acceptance in large qualitative and quantitative data sets.