Parago: More consumers deal-seeking and price-checking

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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.”

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ABOUT THE AUTHOR

Kristina Knight-1
Kristina Knight, Journalist
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.