You Call That a Discount? Americans Have High Expectations for Price Cuts
News - December 11th, 2018
What does it take to get bargain hunters excited this holiday season?
Retailers, take note. Nearly one-quarter of consumers say 25% is the minimum discount they would consider a “good sale.” Some 15% of people said items reduced by 30% or 40% is the minimum they expect and 14% of shoppers said they wouldn’t get out of bed for a discount of less than 20%. That’s according to a survey released this month by Swagbucks, a rewards and loyalty-program operator based in El Segundo, Calif., looking at U.S. shopping habits around the holidays.
The National Retail Federation, the industry group for the industry, said 3 in 4 people believe discounts are a “very” or “extremely” important to making a purchase. They’re clearly getting them: Consumers are expected to spend $1,007 this holiday season, a 4.7% increase on the same period last year. In fact, 51% said they would shop online or at a department store this year, only slightly more than the 55% that said they’d shop at a discount store.
So why is a 15% or, in some cases, even 20% or 30% discount the absolute minimum acceptable or even not enough for many shoppers? Some experts say we’ve been spoiled.
Read the full article here.