Definition
Macy’s is a common mall anchor store.
An anchor is the reference price or reference product in consumers’ comparisons.
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.
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.
References
- American Marketing Association, AMA Dictionary.