Today, we ask: Do We ALL Want a Deal? Research says deal-seeking cuts across shopper demographics. And we want to feel smart. 🙂
In prior posts, we studied:
- What Tactics Increase Customer Loyalty
- Disconnect Between Consumers and Companies
- Expand Your Brand with Digital Deals
- Do Shoppers Like Dynamic Pricing?
- Are Americans Shopaholics?
Do We ALL Want a Deal — Regardless of Age Or Income?
Recently, the National Retail Federation (NRF) conducted a study on discount shopping. And it looked at age and income with regard to such shopping. The NRF found that:
- “Almost all U.S. consumers are value-conscious shoppers who regularly visit discount retailers to find a bargain.”
- “Looking for the best price is a habit that cuts across almost every demographic,” NRF Vice President for Research Development and Industry Analysis Mark Mathews said. “Regardless of income or generation, virtually everyone wants a bargain whether it’s for everyday necessities or big-ticket splurges. Even those who can afford to shop elsewhere love finding a ‘steal.’ And it’s a habit that’s here to stay.”
- “Off-price and discount shopping took off during the recession as price-conscious consumers looked to save on everything from brand-name goods to everyday household purchases,. Now, eight years into the economic recovery, consumers continue to hunt for deals and discounts.”
- “The survey of more than 3,000 U.S. adults found that 89 percent shop at various types of discount retailers. Of those, 58 percent reported shopping at dollar stores, 50 percent at off-price stores like Ross or T.J. Maxx and discount grocers like Aldi or Lidl. With 44 percent shopping at outlet stores and 36 percent at thrift stores.”
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17 Replies to “Do We ALL Want a Deal”
Personally, I know that when I shop I am always searching for deals, promotions, and discounts. Some companies overprice their products because of the brand, and more than half the time the quality is not worth the price.
I am always looking for the lowest prices and best deals on everything I buy. I base where I do most or all of my shopping on where things cost the least. I believe that overpricing has been a huge issue with companies recently because companies that are making more money are getting greedy, and companies that are not making enough money have to raise the prices to make the profits they need. People are always looking for sales, coupons, vouchers, and any other deal to help lower the cost of the things I need.
Ability to save money on the product you want by buying it from the discount store is rewarding since the money saved can be used to buy something. Everyone wants to save money because we never know what will happen in future.
After reading these statistics, it makes me think that people care less about quality and more about price. A $1 broom from the dollar store will not last as long as a pricier one from a cleaning supply store. Depending on the product, I would almost rather spend more on something if it is going to last me longer so that I don’t have to keep buying a cheap version every time it breaks. That money adds up and eventually you will end up spending more trying to replace the low quality product. I am all for getting discounts and deals when I shop, but I think it is important to not focus so much on the dollar amount and pay attention to the quality of the item you are purchasing. Also, many stores tend to mark up the prices for their items so that when they have sales they are not actually loosing any money and selling the item for a price closer to what it is actually worth. In this case, the quality of the item does not match up to the price the item’s given. This is something that is important for people to look out for when shopping.
Everyone looks for discounts and deals, since we grow up with discounts being seen as very important. Price changes and discount signs are marked in red and as large signs. This shows the significance of the percent off and is the focus of the store. When we save money, it makes us feel like we have accomplished something and are acting in a productive way.
Purchases made on items that are discounted from the original price leaves customers with more money for their other purchases. They work in the store’s benefit as they can get rid of the excess stock of goods. Customers want to increase pleasure and decrease pain so they are influenced by the “limited time” discounts and in some cases, end up spending more money than they intended to. If the business still manages to make profit and customers are happy, discounts are an effective facet of marketing.
I definitely think everyone would like deals; however, I do think there are people who do not look for deals, but rather if a deal was in front of them they would take it. Personally, I most of the time only buy things if there is a deal because eventually most things go on sale so unless I am in desperate need of an item I just wait for the item to go on sale. By getting an item at a sale price allows customers to feel as if they are saving money and not being cheated.
Yes! I think we ALL want a deal. I believe it’s how the hunting and gathering instincts have evolved over time. This Urbo article, Evolution Could Explain Why We Think Women Love Shopping More Than Men (https://www.urbo.com/content/evolution-could-explain-why-we-think-women-love-shopping-more-than-men/), speaks to how skills, abilities and behaviors have changed and how they differ by gender.
I am not at all surprised to learn that off-price/discount shopping has grown following the recession. The Great Recession, much like the Great Depression, has impacted our shopping habits. People no longer want to pay full price.
Personally I always try to be smart with my money and cautious with how much I am spending for a certain product, especially while shopping on a college student’s budget. One of my favorite stores has always been Marshalls, one of the most popular off- price stores with discounts on quality brands. I find it hard to spend, for example, $200 on a new brand name purse when you could buy one which does the same job and looks similar for a fraction of the price. By shopping at stores like Marshalls you are able to get brand name products but at a more reasonable price than when buying the same thing in retail stores. I believe it is always beneficial to be smart with money and know when it is okay to look for deals, like on clothes and bags, than when you should spend the extra money for quality, such as when big purchases like electronics, cars, etc.
Saving money while shopping is everyone’s wish. I have always looked for sales or coupons in anything I buy because saving that dollar or two can be used for something else. If it is there, why not use it. I also go to outlet stores, dollar tree, to buy little things that are worth the dollar, and stores like Marshall’s for the discounted prices. I can find something that is expensive in higher end stores for cheaper in one of the discounted stores.
Seeking discounts and deals has always been apart of my shopping process and even more so since online shopping has facilitated this practice. I can now sort items in ascending price order depending on the percentage off the store is offering. Although I tend to do this more when purchasing a big ticket or designer item, this process is working its way into my everyday shopping habits as well. There is nothing wrong with saving money!
I completely agree with this post. At the end of the day, why would you pay the full price when you can pay less? Whether you’re the type of person that keeps track of sales and always saves coupons or you’re the type of person that has to hunt through your emails or wallet to find a discount, we all value the opportunity to be able to save money. Deals and discounts are a great way to keep customers happy as well as encourage new customers to buy products.
Personally, I always want to look for a deal even if I deviate from any brand loyalty. When I am shopping if I am looking for something more of a big value item, I want to be sure I can keep as much in my pocket as possible.
I am always looking for discounts and deals. I usually get coupons by mail and that’s when I feel like companies overprice their products. I feel that the reason for this is because companies are not selling enough, therefore they feel the need to raise the price of their products. And I know for a fact that most people are looking for lowest prices or deals on what they want.
In my perspective, it is essential to choose something of high quality but with efficient prices. In the beginning of every semester, I browse through different websites to find the possible means to save money. It is the human essence to be prepared for a rainy day.
I personally think that looking for deals can sometimes be apart of the shopping “experience”. I pride myself on getting the best deal on products. The beauty of internet shopping is that comparing prices is easy, and therefore makes getting the best deal easy.