4.1.5. Transaction value
Some participants shop to hunt bargains because they enjoy the thrill of finding a really good deal. Therefore, transaction value is defined as the perception of psychological satisfaction or pleasure gained from getting a ‘‘deal’’. Transaction value is dominant in bargain hunting which provides consumers excitement and exhilaration, as well as a sense of accomplishment, pride and affirmation of intelligence.
Participants revealed that they were very likely to hunt for bargains and sales at department stores because they could find nice products at very good prices when department stores mark down their merchandise during sales and promotions. Therefore, they gain transaction value at department stores. In contrast, although the everyday low price of mass merchandisers is very appealing, participants do not gain the same kind of excitement or pleasure as in department stores when they found a real bargain.