This paper reviews recent scholarship on the topic of consumer durables replacement behavior. Much of this research demonstrates the value of expanding a rational consumer decision-making perspective on replacement decisions to accommodate insights from consumer behavior. These insights are especially relevant for understanding voluntary replacement decisions that are not motivated strictly by economic trade-offs. Unfortunately, while broad in scope, this scholarship is limited in depth, and lacks a comprehensive model for portraying the relationships among the constructs that have been examined. This paper attempts to integrate the existing research base by offering a framework for conceptualizing the replacement decision process. Additionally, a suggested research agenda for validating and clarifying the hypothesized relationships in the framework is presented.
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Guiltinan, J. Consumer durables replacement decision-making: An overview and research agenda. Mark Lett 21, 163–174 (2010). https://doi.org/10.1007/s11002-009-9085-2
- Durable goods
- Product replacement purchasing
- Consumer discount rates