MANY inflation-weary shoppers have started scouring the internet in hopes of finding a great deal. They tend to spend hours looking for the best deal possible.
Americans are so focused on saving money that four in ten are more likely to mention a recent expense in conversation if they get a good deal — so they can brag about their find.
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That’s according to a new survey of 2,000 Americans in the general population, which revealed that 42% want to talk about their big discoveries.
Not only that, but eight out of 10 respondents are excited to share their secrets: they want to tell others where they can find the best deal too.
Nationwide, the average respondent spends 62 minutes shopping online per week – totaling about 54 hours per year.
Conducted by OnePoll and commissioned by Citi for the Citi Store browser extension, the research looked at Americans’ shopping habits and their dedication to finding deals.
Within this, the survey revealed that for 52% of respondents, the online shopping habit increased last year. When shopping online, 71% stated that the most important thing is the price of the product, even more than the quality of the product (46%).
And with price being the most important factor, six out of 10 Americans surveyed “always” or “often” look for a promotional code or other offer before finalizing an online purchase.
If it takes too long to find one, 37% said they will not proceed with the purchase.
Younger generations were the most likely to abandon a purchase if they couldn’t find a deal – 51% of Gen Z and 46% of millennials surveyed agreed with this.
The results also revealed that 53% of respondents have items that they will never pay full price for – they will only buy them if there is a deal.
“American consumers live busy lifestyles and online shopping has become a way of life,” said Anthony Merola, head of proprietary products for U.S. branded cards at Citi.
“Today’s shopping tools, including browser extensions, have become an indispensable resource for people to conveniently save time and money.”
With this dedication to finding deals, it’s perhaps no surprise that three-quarters (77%) of respondents self-identify as “savvy shoppers.”
Additionally, a third of Americans believe that finding deals is their “shopping superpower,” with 34% selecting it as their “superpower” and beating out other options like getting free shipping (18%) or locating quality items. (12%) online.
Americans are spending more time looking for deals online
Shoppers concerned about inflation are spending more time online searching for discounted items.
- Of the 2,000 people interviewed, 42% wanted to talk about their big discoveries.
- Eight out of ten people revealed that they would share where they got the business.
- The average survey respondent said they spend about 54 hours looking for the right business.
- For 52% of respondents, their online shopping habits have increased in the past year.
- 71% of users who responded to the survey stated that price was the most important thing when shopping online.
- 46% stated that they care most about the quality of the product.
- Six in ten Americans surveyed “always” or “often” look for a promotional code or other offer before completing an online purchase.
- 37% said they will not proceed with the purchase if it takes too long to find a promotional code.
- 51% of Gen Z and 46% of millennials surveyed agreed to abandon a purchase if they couldn’t find a deal.
- 53% of respondents have items they will never pay full price for – they will only buy them if there is a deal.
- 77% of shoppers identify as “Experienced Shoppers”.
- 34% of Americans say finding a compromise is their superpower.
- 26% of shoppers say they use the money they save to “treat themselves.”
- Another 26% say they would use the money saved to pay a bill or other essentials.
- 25% said they would put the money in a savings account.
- Only 11% of respondents said they would wait in person to close a deal.
- 32% of respondents say that those looking for deals should use a certain browser when shopping.
- 26% said that those who shop should already have a “game plan” before logging in.
When they save money, shoppers surveyed are more likely to use those savings to treat themselves later (26%).
They can also use their savings to pay a bill (26%) or spend it on other essentials (26%). Additionally, shoppers surveyed said they would put the extra money into their savings accounts (25%) or use it to buy more (20%).
As seasonal shopping approaches, the survey looked at the extra lengths some respondents would go to to get a good deal.
Nationwide, one in 10 (11%) would be willing to wait in line for hours, while 15% of shoppers would set an alarm to remind themselves.
Most commonly, shoppers download a specific app or browser extension (32%), make a “game plan” (26%), or browse across multiple devices (26%).
“Now, with more convenient ways to find deals with shopping tools, everyone can be a savvy shopper,” explained Merola.
“You don’t have to worry about hunting for deals when your shopping automatically searches behind the scenes for savings at your favorite online merchants.”
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