close
close

71% of shoppers value bargains in the face of rising prices


71% of shoppers value bargains in the face of rising prices

Online ShoppingOnline Shopping

(Photo by cottonbro from Pexels)

NEW YORK – In the age of digital consumption, a new survey shows that Americans are becoming more savvy about online shopping and placing great importance on finding the best deals.

Commissioned by Citi for the Citi Shop browser extension and conducted by OnePoll, the study paints a picture of a nation obsessed with bargains and happy to share their money-saving successes. The survey of 2,000 Americans found that a whopping 77% describe themselves as “savvy shoppers” and 34% claim that finding bargains is their “shopping superpower.” This bargain-hunting mentality is so ingrained that 42% of Americans are more likely to mention a recent purchase in conversation if they got a good deal in the process.

The average American now spends 62 minutes a week shopping online, or about 54 hours a year. For 52% of respondents, online shopping behavior has increased in the past year. Price has become the most important factor for 71% of shoppers, even surpassing product quality (46%).

Six in 10 Americans “always” or “often” look for a promo code or other offer before making an online purchase. The search for savings is so strong that 37% of respondents said they would not complete a purchase if it took too long to find a deal. That percentage rises to 51% among Generation Z and 46% among Millennials.

Woman shopping on her smartphoneWoman shopping on her smartphone
For 71% of buyers, price has become the most important factor, even surpassing product quality (46%). (© Antonioguillem – stock.adobe.com)

“American consumers have hectic lifestyles and online shopping has become a way of life,” said Anthony Merola, head of proprietary products for U.S. branded cards at Citi, in a statement. “Today’s shopping tools, including browser extensions, have become a popular resource that allows people to conveniently save time and money.”

The survey also revealed how Americans spend their savings. Respondents said they would use the money they save from sales to treat themselves, pay a bill or buy other essentials (26% each). A quarter of shoppers said they would put the extra money into their savings account, while 20% would use it for more purchases.

With seasonal shopping approaching, the survey examined how far some Americans would go to get a good deal. While 11% would be willing to wait in line for hours and 15% would set an alarm to remind themselves, more common strategies included downloading a specific app or browser extension (32%), creating a “game plan” (26%) or browsing on multiple devices (26%).

“Now that there are more convenient ways to find deals with shopping tools, anyone can be a smart shopper,” Merola explains. “You don’t have to worry about finding deals when your shopping automatically searches for savings at your favorite online retailers in the background.”

Survey methodology:

This random double opt-in survey of 2,000 Americans was conducted on behalf of Citi between March 22 and March 28, 2024. It was conducted by the market research company OnePoll, whose team members are members of the Market Research Society and serve as corporate members of the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).

Leave a Reply

Your email address will not be published. Required fields are marked *