Two common retail pricing patterns are "high-low," wherein prices fluctuate between a normal price and a sale price, and everyday low price (EDLP), where constant prices with no sales are maintained. Two studies were conducted to identify consumer segments that differentially prefer each strategy. It was hypothesized that consumers high in need for stimulation (high OSL) may be attracted to "high-low" stores as means of pursuing stimulation, whereas those low in need for stimulation (low OSL) should shop in and prefer stores presenting the less stimulating and more stable EDLP format. Study 1, aimed at exploring attitudinal bases for price-environment preference, involved a questionnaire sent to 550 members of a household panel. Study 1 partially supported the hypothesized relationships for high OSL subjects on four out of five measures, but low OSL subjects were found to be insensitive to retail price environment. Study 2 was intended to test actual behavior (the number of items purchased, the amount of money spent, and the time spent in the store) and thus establish internal validity, and consisted of a laboratory study in which subjects shopped in a simulated store. Study 1 results were not replicated in Study 2. Proposed explanations for this lack of consistent results center on the possible existence of unidentified moderator variables, demographic limitations of the samples, and experimental limitations. Implications for the positioning of retail stores are discussed.