Social media increasingly used by bargain hunters

The answer increasingly lies in social media as it gains ground as an influencer of online shoppers. Almost 30% of shoppers surveyed for the Guidance/Synovate survey said the best way to find online discounts was via link forwarding, peer reviews or social sites.

When asked "In your opinion, which one of the following is the best way to find out about bargains or discounts online", email topped the list, with 45% citing it the best way to find out about online bargains. Other 'top down' channels cited were retailers messages (16%) and banner ads (10%).

However, the survey 'Drilling Down: Finding Bargains and Discounts Online', found that social media was also at play among bargain hunters. "Link forwarding" was a popular method with 16.5% citing this method. Peer reviews/comments on retail sites were valuable sources for 9%. Just 3% said they learn about deals via Twitter, Facebook or other social networking sites so, as Jon Provisor, Guidance CTO said "there's plenty of room for growth, and that's good news for retailers that need to boost sales this holiday season."

Other findings from the Guidance/Synovate survey include:

- The youngest group (ages 18-24) were most likely to find information about bargains from peers, versus from the retailer: 39%chose one of the three "peer"-centric answers (links from friends, another shopper's comments, or friends via social site), compared with 29% of the overall population.

- Respondents in the Northeast were nearly 10% more likely than those in the Midwest to get their info from peers (33% versus 24%, respectively).

- The two groups most likely to say "friends forwarding a link" were the youngest and the oldest: 22% of those ages 18-24, and 18% of those 65+.

- Finding bargains via social sites increased as age decreased: 7% of the youngest group said it's the best way to find bargains, while no one above 65 agreed.

- The youngest respondents rely on email the least: one-third said it's the best way to find deals, compared with nearly half (45%) of respondents overall.

"Clearly, the economic climate is driving bargain hunting," said Jason Meugniot, Guidance president and CEO. "The Internet has opened a vast new world of low-cost purchase options for online buyers. While the online buying experience has improved markedly in recent years, at the end of the day - especially a day of financial uncertainty -- price matters.

Tags: bargain hunting, email, Guidance, online shopping, peer reviews, social media, social networking, Synovate