Measuring Consumer Perceived Values: Development and Validation of a Scale to Investigate Self‐Gifting and Consumer Satisfaction

ABSTRACT Consumer perceived values (CPVs) are defined as the benefits consumers believe they receive in relation to the costs they incur. CPVs have been frequently detected in self‐gifting behavior (i.e., buying a gift for oneself). Yet, the relationship between CPVs and self‐gifting remains underexplored. Thus, the purpose of this study was two‐fold: (1) to develop a scale to investigate CPVs in the context of self‐gifting and (2) to apply the developed scale to examine relationships between CPVs in self‐gifting and consumer satisfaction. A reliable CPVs in self‐gifting (CPVS‐G) scale was developed and applied to test its impact on consumer satisfaction via structural equation modeling (SEM), as framed by expectancy disconfirmation theory (EDT). The CPVS‐G scale advances theory by extending existing value measures to the self‐gifting context and deepening EDT through its focus on satisfaction driven by value‐based expectations. The CPVS‐G scale offers valuable applications for both academic research and industry practice in examining important values in self‐focused consumer behavior such as self‐gifting. Retailers and marketers can leverage insights from the findings by aligning product and service offerings with key value drivers, such as quality and resale value, to better meet consumer expectations and enhance satisfaction.