LSE Business Review:
Taking a bit longer to do your shopping can save you money
1 July 2016
Most of us are familiar with the experience of scouring supermarket shelves to find the items we want at the right price - but how effective are we at converting the time spent looking for a particular product into monetary savings? Our research seeks to measure the benefits of consumer search by studying the behavior of around 12,000 shoppers visiting a large supermarket in Northern California. Our results show that shoppers who search for longer find cheaper products, and are thus rewarded with cost savings.
This article was published by LSE Business Review on July 1, 2016
Link to article here
Related publications
In brief... Bargain hunters: calculating the benefits of consumer search, Fabio Pinna and Stephan Seiler. Article in CentrePiece Volume 21, Issue 1, Summer 2016
Consumer Search: Evidence from Path-tracking Data, Fabio Pinna and Stephan Seiler, Centre for Economic Performance Discussion Paper No. 1296, September 2014
Related links
Stephan Seiler is a CEP Alumni. He is now Assistant Professor of Marketing at Stanford GSB
Growth Programme webpage