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      Pre-sale ordering strategy based on the new retail context considering bounded consumer rationality

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          Abstract

          <p style='text-indent:20px;'>The purpose of this paper is to study the impact of bounded consumer rationality on the order quantity and profitability of the seller in the advance period and the spot period in the context of the combination of new retail and pre-sale. In this paper, we develop a seller order model in the context of the combination of new retail and pre-sale, with and without reference price dependence. Besides, the model considers the order cancellation and delayed purchase behavior of consumers. We then discuss the optimal profit and optimal order quantity under different conditions and the effect of different reference price dependence and value-added offline service on them. Our research shows that: First, the seller tends to set the deposit too low in pre-sales. Second, reference price dependence has different effects on order quantities in different periods. The seller should pay more attention to the impact of reference price dependence. Third, on the whole, consumer rationality benefits the seller. The seller, or the public policymaker, can benefit new retail businesses by increasing consumer rationality. Last, in the new retail context, an increase in offline service value-added, even if it increases total order quantity, is not always beneficial to the seller and may reduce profits. Therefore, the seller should weigh all factors to determine the optimal value-added offline services.</p>

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          Prospect Theory: An Analysis of Decision Under Risk

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            Categorization of multiple channel retailing in Multi-, Cross-, and Omni‐Channel Retailing for retailers and retailing

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              Offline Showrooms in Omnichannel Retail: Demand and Operational Benefits

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                Author and article information

                Journal
                Journal of Industrial and Management Optimization
                JIMO
                American Institute of Mathematical Sciences (AIMS)
                1547-5816
                1553-166X
                2023
                2023
                : 19
                : 2
                : 1015
                Affiliations
                [1 ]Business School, SiChuan University, Chengdu 610065, China
                Article
                10.3934/jimo.2021217
                102aeb9f-5c95-4e15-95a9-587b0c7d3603
                © 2023
                History

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