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Price-sensitive shoppers in UK seek out cashback deals
Britain is a nation of deal-seeking shoppers and finding the best price is now an ingrained habit, according to new research from global incentives and engagement firm parago.
The perception that their purchasing power has decreased has led to nearly 3 out of 4 shoppers in the UK being very sensitive to price. So much so that they will go out of their way to secure the best deal, and that includes scanning multiple media channels including mobile, online and traditional media such as catalogs and fliers.
For nearly two-thirds of shoppers (65%) price is the primary driver of a purchase decision, more so than the store (13%) or quality (12%). And they don't mind going out of their way to get the best price - 93% would drive up to 10 minutes out of their way for a £20 (US$33) cashback discount. Almost all (90%) of shoppers in the UK look online for the best prices before embarking on a shopping trip.
In fact, parago found that cashback rebates were the preferred savings tool, more popular than discounts. Most shoppers said they were interested in seeking out rebates (72%) and that they felt this money-saving device offered 'great savings opportunities' (79%).
"Consumers of all income levels are feeling the pinch of the lagging economy. As a result, deal seeking has become an engrained habit among UK shoppers," said Lindesay Brown, Managing Director, UK of parago. "Our research also revealed that because consumers are focused on the very best price, the majority are finding that cashback rebates deliver the greatest value, versus other promotions."
parago are hosting a webinar later this week, '2014 UK Shopper Behavior'. Click here to register.
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