Abstract: The paper explores the factors influencing the formation of consumers′ online purchase decision reference points from the aspects of online merchants and consumers themselves. Based on the interviews and empirical research, the online reference points of decision-making is divided into explicit reference point and implicit reference point. The explicit reference point includes four aspects: price reference point, frame effect reference point, product brand attribute reference point and product review reference point, and the implicit reference point includes the target reference point and consumer preference reference point. This division is conducive to practical application of prospect theory in the field of network marketing and to the expansion of online marketing.

Key words: consumer;online purchase, reference points, formation mechanism