More Expensive Wine Is Really Better? The Role of Positive Emotion and Consumer Power

Abstract

The popular belief is that expensive wines are better than cheaper ones. However, there is a lack of previous studies exploring if it is effectively true. In this research, we explored this issue using three datasets. The results confirm the beliefs that expensive wines are better rated. Also, there is a difference between specialists compared with average consumers. Specifically, average consumers are more sensitive to price. Further, this effect is mediated by positive emotions expressed in the reviews and moderated by the power perceived by consumers. We contribute to previous literature by demonstrating that wine prices increase people’s perceptions of wine quality and that the perceptions of wine differ from specialists to aspirants and regular customers. We tested these contributions using secondary data from wine websites and social networks. This methodology can be employed by managers to monitor their consumers and understand their behaviors.

Keywords:

• Regression model
• reviews
• secondary data
• wine

Additional information

Funding

This work was supported by Coordenação de Aperfeiçoamento de Pessoal de Nível Superior – CAPES [88887.492753/2020-00].