Everyone loves a great deal, right? Coupon for $1.00 off. Free Shipping with $50 purchase. Up to 75% off! Consumers not only eat this stuff up, they demand it. But according to a new survey by Accenture, America isn’t as enamored with daily deal sites.
Their survey, conducted in September 2011, showed that 56% of Americans do not subscribe to a deal site. Even more interesting, 42% said the “do not like anything” about daily deal sites.
Who is favoring the art of the deal? People 18 to 24 and households with earnings of more than $150,000 a year. Accenture’s numbers showed a direct correlation between income and the proportion of consumers who subscribe to at least one deal site.
If you’re out to reach a young, upwardly mobile audience, then there’s more good news. 39% of those who do use daily deal sites, say they’re buying more deals than they did a year ago. 26% admitted that the deal got them to buy something they wouldn’t have purchased otherwise. (Count me in as part of that crowd.)
Most common complaints? 37% said they can’t find deals they want to try and 24% said the deals weren’t local enough.
Tom Jacobson, senior executive at Accenture had this to say,
“Businesses need to strike a balance between providing customers, particularly in the upper-income ranges, with new experiences they would not normally try, while not providing too many esoteric deals that serve only small portions of the customer base.”
On a more general note, Accenture’s Pricing Shopping Survey shows that even though folks are concerned about rising costs, they aren’t willing to change their shopping behaviors just yet.
For example, 40% reported an increase in coupon usage for food shopping, but only 20% say they’ve switched to cheaper products and only 30% have gone from grocery store to discount chain.
That trend won’t continue, if prices continue to rise. 70% of consumers were ready to drop their favorite brand name in exchange for the knock off if prices rose more than 10%.
While we have to eat, we don’t need new clothes. The survey found that markdowns are motivating, with 30% of buyers saying they’d wait for a 50% price cut before buying an item they want.
“People are nervous about prices going up, and it shows in what and how they buy. Our survey suggests most shoppers are focusing on the basics, and that is unlikely to change for many in the short-term – even if gas prices fall.”
How will all of this effect holiday shopping? Personally, I’ll be using those daily deal sites to get high-price gifts for cheap, cheap, cheap.