What is a buyer's emotional response to perceptions of risk or loss after purchase called?

The term that describes a buyer's emotional response to perceptions of risk or loss after making a purchase is known as cognitive dissonance. This phenomenon occurs when there is a conflict between the buyer’s beliefs or feelings and the actual outcome of the purchase. For instance, after buying an expensive item, a consumer may begin to doubt whether the purchase was worth the price, leading to feelings of regret or uncertainty.

Cognitive dissonance often arises when consumers worry they may have made a poor decision, potentially triggered by comparing their choice with others or by the overwhelming number of options available in the market. This psychological discomfort can significantly impact consumer satisfaction and brand loyalty in the future, making it a crucial factor for marketers to consider.