 Cooling off and backing out: Understanding consumer decisions to rescind a product purchaseBeverley A. Sparks, Graham L. Bradley, Gayle R. Jennings and Nicole R. Johnston Journal of Business Research, 2014, vol. 67, issue 1, 2903-2910 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. Keywords: Rescind; Buyer regret; Timeshare; Cooling-off period; Emotions; Consumer protection (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:67:y:2014:i:1:p:2903-2910 DOI: 10.1016/j.jbusres.2012.06.003 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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