18 Jun

Good Deals Cause People to Switch Brands

Are you loyal to particular brand names when you do your shopping? Most frugal people aren’t. That’s because they know that the best deals for any  particular product will vary from brand to brand depending upon what type of vouchers and discount codes are available. In fact, a good deal is the leading reason that shoppers will switch away from their favorite brands according to a new study on the shopping experience. Nearly nine out of ten shoppers are at least somewhat influenced by available deals when it comes to the brand of products that they choose.

Other interesting things that this study has discovered about the use of deals include:

• Females are more likely than males to be heavily influenced by deals when doing their shopping. When it comes to the importance of deals in brand selection, the number for both genders hovers around 4 in 10 for both men and women but the number is slightly higher among women. Women in general are more likely to use coupons and discount codes when shopping than men are.
• More than half of all shoppers will look for deals before they enter a store. This means that people are deal-minded whenever they are shopping. We are focused on saving money and will look for stores that offer us the deals that we are seeking. More and more retailers are taking note of this and starting to issue retailer-specific deals.
• Shoppers are three times more likely to choose to redeem vouchers that are simple to read and redeem. Instant discounts and two-for-one deals are among the top choices for people who are seeking vouchers. Less than 15% of shoppers want deals for discounts off their next purchase compared to 75% who want instant discounts.
• Nearly half of all shoppers consider deals very important when shopping at grocery stores. Unfortunately only about one fifth of shoppers feel that deals are very important when shopping online. Savvy shoppers know that it’s easy to find discounts and deals when shopping online so this should be considered more important than it currently is.

More on the study.

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