Because it is brand new! Recency heuristic for product innovativeness evaluation

This research identifies recency heuristic utilized by consumers with limited prior knowledge for product innovativeness evaluation. Consumers with limited prior knowledge of a product category perceived a new product as more innovative when its release date was more recent, while consumers with prior knowledge remained uninfluenced by recency information (Study 1). The effect was replicated at the product level (Study 2). It further demonstrates two critical boundary conditions—when recency was either irrelevant information or a rationally legitimate evaluative tool, recency heuristic was inapplicable (Study 3). The present research draws attention to the role of recency in conceptualizing product innovativeness and further elaborates the understanding of how the construct of innovativeness is represented in consumers' minds by focusing on the conceptual relationship of novelty and recency. It also contributes to the heuristic literature by proposing recency as an evaluative heuristic tool for innovativeness assessment. Results provide managers with practical insight into whether to highlight or downplay product release date information depending on their target audience and the level of product innovativeness.