Parago: More consumers deal-seeking and price-checking

A new report from incentives and engagement specialists Parago reveals new deal-seeking behaviors among consumers in the U.S. who are feeling the pinch.

by Helen Leggatt

More people in Parago's 2013 Shopper Behavior Study (.pdf) feel they are price sensitive this year than last - 75% vs. 70% - caused in part by more people feeling their purchasing power has declined.

So, it's no surprise that a key take-out from Parago's report is that "price is king". More than half (56%) of consumers surveyed for the report said price is the primary influence on shopping decisions, way ahead of brand (17%), quality (17%) or loyalty programs (3%).

Deal-seeking behavior is up across the board and checking prices via mobile is up a whopping 400%. So too is the number of people who shop at stores where they can check prices (46% vs. 11%).

Also seeing an increase is deal-checking before embarking on a shopping trip. The number of people researching deals before leaving home has risen from 69% last year to 80% in 2013. The number who check online before a shopping trip has risen to over half (59%) from 38% last year.

"Consumers at all income levels are feeling the pinch of the lagging economy," says the report. "Their long and worsening struggle has manifested itself in new deal-seeking shopping behaviors that are laser-focused on paying only what it's worth and not a penny more. Across the board, shoppers now seek out the very best prices and are willing to go out of their way to save even a little bit."

Tags: consumer preferences, ecommerce, mobile, price promotions, retail, shopping insights