Definition
Macy’s is a common mall anchor store.
An anchor is the reference price or reference product in consumers’ comparisons. [1]
An anchor store is a large and well-known retail operation located in a shopping center, serving as an attracting force to draw consumers to the center. [1]
Anchoring effect or anchor bias occurs when the comparison of prices or products against a reference price or reference product are weighted toward the anchor. [1]
References
- ^ American Marketing Association, AMA Dictionary.