Study: Consumers Are Now Habitual Deal Seekers
Posted by Sallie Burnett
- Price sensitivity is up: Nearly 3 out of 4 shoppers are more sensitive to price this year due in part to 44% of those surveyed feeling their purchasing power has decreased.
- Shoppers will got out of their way for discounts:More than 75% of consumers would drive 5-10 minutes out of their way for a £10 discount on a £50 product. A full 93% of shoppers would drive 5-10 minutes out of their way for a £20 cashback discount.
- Price is the top purchase influencer: The large majority of shoppers (65%) report that price is the primary influencer on purchase decisions, above store (13%), quality (12%) and other factors.
- Preference for cashback rebates is growing: When given the option of a lower-value instant discount or a cashback rebate, the majority of consumers prefer the rebate. This is a strong win for marketers, as the instant discount and cashback rebate have the same net promotional cost. Additionally, most shoppers are interested in seeking out rebates (72%) and feel they offer great savings opportunities (79%).
- Deal-seeking behaviour is booming: Before shopping, 90% of consumers look online for the best deals and 89% look for sales, deals, cashback rebates and best advertised prices.
- Demand for deals in social networks: 1 out of 3 shoppers would participate in a social media contest to receive an exclusive cashback rebate.
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