With so many Americans out of work and having financial troubles, bargain shopping is more popular than ever. So what constitutes a good bargain, and where do shoppers go to find these great deals?
Bargain Shoppers
In Ask Your Target Market’s latest survey, 84% of respondents identified themselves as bargain shoppers. Of those respondents, only 2% said they consider 10% off to be a good enough discount that would get them to look twice at an item they don’t necessarily need. 4% said that 20% off might do the trick, 11% would look twice for 30% off, another 11% said they’d prefer 40% off, 35% consider 50% off a good discount, and 38% said they wouldn’t look twice for anything under 60% off. No respondents said they never pay attention to discounts.
But it’s not just buying sale items that makes a good bargain shopper. 23% of bargain hunting respondents said they always do research about a product before buying it so they can be sure they are getting the best deal possible. 31% said they do research most of the time, 20% do research about half the time, 21% don’t do research very often, and just 5% said they never research products.
Non-Bargain Shoppers
The 16% of respondents who did not describe themselves as bargain shoppers had a slightly different view of discounts and shopping preparations. 10% of them said they never pay attention to discounts. 29% said they consider 60% off and up a good discount, 27% considered 50% off a good discount, 13% considered 40% off a good discount, 11% considered 30% off a good discount, 8% considered 20% off a good discount, and 3% considered 10% off a good discount.
As far as preparing for shopping beforehand, just 11% of non-bargain shoppers said they always do research, 10% said they do research more than half the time, 29% do research about half the time, 32% do research less than half the time, and 19% never prepare before shopping.
Online vs. In Stores
With the rising popularity of online shopping, many shoppers are beginning to learn the art of online bargain hunting. 35% of overall respondents said they usually find better deals online than they do in stores. 22% said they find better deals in stores, and 36% said it’s usually about equal. Another 8% of respondents said they only shop in stores, and less than 1% said they only shop online.
Whether in stores or online, bargain hunting is certainly a popular way for Americans to shop. The widget below shows the results of the AYTM.com survey in full. Be sure to click “open full report” for full details.
Photo Credit: Sales from Flickr
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on February 22 via AYTM’s online survey panel.
