Discovering Discounts

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How Discounts Affect Online Consumer Buyer Behaviour

Discounts, promotions and offers are all exceptionally enjoyable to grab hold of when the chance is there, and with holiday seasons revolving around the different promotions that shops have all over the world, there’s plenty of discounts to discover. In many cases, some people will turn to vouchers to help them save money before they turn to a payday loan! Discovering discounts is extremely important for some families, and with huge shows like Extreme Couponing showing just how far people are willing to go to save money, we thought we’d take a closer look at how people use discounts, vouchers and promos.

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How Discounts Affect Online Consumer Buyer Behaviour

While a number of online stores will have loyalty cards and vouchers in the newspaper, the switch to digital is seeing more and more people turning to discounts online. With discount stores available at the touch of a button, more people are beginning to search for offers before they make a purchase. In fact, research suggests that more than 64% of online consumers will even wait for a product to go on sale before the buy it, no matter what time of year it is! In addition to that, 59% of online consumers are also searching for promo codes before they commit to buying something online to see if they can get it at a discount price, and 30% of online consumers will even sign up for price tracking!

Many people associate shopping and money saving with stereotypical women, but it’s not just the women who are searching for the very best deals! Statistics show that while 62% of online female shoppers will pay attention to discounts and promotions, 57% of online male shoppers do too! As a whole in the UK, a whopping 75% of consumers will use between 1 and 5 vouchers, within the space of three months, showing just how important discovering discounts can be for individual shoppers, all year round.

Black Friday

One of the biggest times of year for commercial stores is the infamous Black Friday, followed the Cyber Monday for online retailers. This is the time of year just before the Christmas period where a huge number of items across a range of products see their prices slashed, even if they are brand new to the store. Black Friday is a frenzy, with many stores seeing queues early in the morning and sometimes even overnight, and many websites facing too much traffic to handle, as eager shoppers hunt for the very best deals to complete their Christmas shopping. In 2015, a number of products were reduced, including furniture products being slashed by 40%, children’s clothing being discounted by 43%, electronics seeing a reduction of 30% and much more.

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Would People Drive Out Of Their Way For A Discount?

In fact, a huge number of people will even drive out of their way to hunt down the best deal, even if they’re earning a salary of over £100,000 per year! This shows that no matter wage bracket you fall into, deals and discounts are exceptionally important for a huge number of people.

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Store Cards

Loyalty rewards, points and store cards are extremely important to a huge number of families, and a survey conducted in 2014 shows just how many people are interested in using a loyalty store card in order to get vouchers and discounts. In fact, by generation, there’s not a lot of difference in statistics with approximately 77% of all generations from millennials all the way to baby boomers likely to use a loyalty card. There are a number of benefits that a loyalty card can offer, and some of the most valued include points that can be redeemed for cash, percentage discount on shopping, cash back, instant discounts on certain products and a voucher to redeem in store.

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How People Find Deals Before Shopping

There are a huge number of different ways that people can find deals before they shop, and due to the way people’s trust is changing, a lot of this is focussed on checking online and also asking for personal networks. In addition to this, many people are using pound shops for some of their basics, such as toiletries, comparing flyers and leaflets for the best deals and also regularly using a particular discounter.

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Are Consumer Attitudes Towards Retail Promotions Changing?

With the rise of importance of Black Friday and the extension of the January sales being pushed back all the way to Boxing Day, some people’s opinions of retail promotions are actually changing. In fact, a survey of consumer attitudes towards retail promotions showed that many people in different age brackets believer that retailers exaggerate the levels of discounts their offering and even believe that discounting is losing its impact as more and more retailers are having more sales every year.

Here at Wizzcash, if you’re looking for a helping hand with your finances after an unexpected financial emergency, then we can help. While vouchers and promotions can help to save you money, there are times when you might need a bit of additional income to help you pay off a bill or other emergency. Apply online for one of our short term loans today.

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