The concept of perceived risk is fundamental to the understanding of consumer choice behaviour, be that the choice between products, brands, stores or non-store alternatives. Previous reviews of perceived risk have given little attention to the issue of risk-reduction. This is especially surprising, given the importance of these strategies within the brand or store choice process.This paper identifies thirty-seven risk-reduction strategies (RRS), based I upon a review of over one hundred articles; evidence is presented for eighteen of the most commonly used strategies. Attention is given to changes in the methods for measuring RRS. A classification of RRS is presented, extending Cox's concept of clarifying and simplifying consumers. The paper concludes by identifying key areas for further research.

The idea that risk could be a motivating factor in consumers′ choice of breakfast cereal seemed less than plausible on first consideration. However, reports an investigation of secondary sources, some focus groups and a survey of 180 shoppers which revealed that this initial reaction was unfounded and that risk appeared significant in affecting consumers′ purchasing behaviour. The most important risks were those of taste and nutritional value. The most important risk relievers were choosing a well‐known brand and obtaining free samples. The findings seem to support the high advertising spends characteristic of the market, but question the widespread use of celebrity endorsements.