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 suggest that offline interaction between customers 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 the retail space in the value creation process is discussed. Further, the impact of non-financial value on perceived price and price acceptance is elaborated against the background of sociological capital theory. The author argues that the store-end provides significant opportunities for added-value creation. More precisely, offline experiences can produce non-financial value which is convertible into financial capital, thereby increasing perceived price and price acceptance among customers. The author develops first managerial implications for a strategic use of retail space and provides theoretical grounds for analyzing the impact of experience-based retail marketing on price acceptance in large qualitative and quantitative data sets.