A new global study into our shopping habits has revealed that the recession and technology has bred a new type of shopper – the Strategic Saver. Accounting for over a third of Brits (35%), these savvy shoppers shun quality and brand loyalty in favour of using technology to research the cheapest prices and best deals.
The findings emerged from the PeopleShop report - a global study into the shopping behaviour, attitudes and motivations of 13,000 consumers, carried out by leading shopper agency Arc.
Far from there being just one universal type of price-sensitive shopper, the UK findings have revealed for the first time, three distinct archetypes of savers: the Strategic Saver (35% of the population) is joined by the thriftier, Penny Pincher, which makes up 16% of the population and the more free-spirited, Opportunistic Adventurer, who thrives on the thrill of hunting that elusive bargain or deal (22%).
28% of the population aren’t concerned about price, of which, 4% are classified as Quality Seekers – those individuals that buy on quality alone. The Habitual Sprinters among us (17%) default to a handful of tried and trusted brands, while the Passionate Explorers (7%) simply love to shop regardless of price.
Which type of shopper are you?
(Please see attached Decision Tree infographic)
Grand Thrift Auto
If you know people with short arms and deep pockets, there is a good chance they could be a Gamer. In the UK specifically, the PeopleShop study reveals that people who buy video games are the most price-sensitive shoppers and the group most likely to exhibit Strategic Saver traits when shopping. Video games are also one of the products most likely to be bought because of a special promotion, second to only baby food (71% vs. 73%).
Those who like a glass of wine also seem to like a bargain as well. Arc London analysed which commonly purchased products were most likely to be shopped for bargains - wine topped the list with 71% of consumers saying they shop for wine in a bargain hunting mind-frame, ahead of the video games (69%) and baby/toddler toys (63%).
Diana Cawley, Managing Director at Arc, said: “Shoppers are living in a complex and competitive world – choice is in abundance, research channels are multiplying and retailers are fighting tooth and nail for custom. Whilst technology has empowered us to become a nation of savvy, deal hunters, the psychological pressure to make the right purchasing decision is enormous.”
She adds: “Our global study offers a fascinating look into the complex minds of today’s shoppers. While the majority of us are primarily motivated by price, there’s a multitude of other influences that shape every purchase decision. Different products elicit very different emotions and thus behaviours, so if brands and retailers want to compete, an understanding of shoppers’ mindset, needs, occasions and touchpoints is a must. By overlaying an additional filter on the UK shopper, we understand how UK shopper behaviour is defined against global trends.”
Arc’s global PeopleShop study is based on a study of 13,000 consumers from the US, Canada and Europe. In the U.K., a nationally representative sample of 2,000 consumers was surveyed by Research Now between 20th August - 23rd August 2012.
- END -
Notes to Editors:
Table 1. Top five most price sensitive products
Video games 80%
Baby & toddler toys 78%
Energy drinks 77%
Table sauces 77%
Cooking sauces 75%
Table 2. Top five ‘Strategic Saver’ products
Video Games 58%
Baby & Toddler Toys 58%
Computer Printers 54%
Baby Food 50%
Video Games Systems 48%
Table 3. Top five products most likely to be shopped for bargains
Video games 69%
Baby & toddler toys 63%
Table 4. Top five products bought because of special promotions
Baby food 73%
Video games 71%
Cooking sauces 65%
Video game systems 65%
Baby & toddler toys 64%
Arc is a Brand Activation agency, created out of the merger of Arc, Lime and LeoSports and built on the three specialist disciplines of shopper, experiential and sponsorship. Simply stated, our goal is to change human behaviour, turning shoppers into buyers online, in store and on the move.
Our success is built on investment in research, industry leading strategic thinking and highly creative and effective campaigns.
Our key clients in the UK include Kraft, P&G, McDonald’s, Coca-Cola, Samsung, Tesco and Unicef.
We have 42 offices worldwide employing over 1500 people.
For further press information, please contact Matt Shaw (email@example.com) or Ethna Brave (firstname.lastname@example.org) at Limelight PR 0207 484 6120.
This press release was distributed by ResponseSource Press Release Wire on behalf of Definition Agency (FKA Limelight PR) in the following categories: Entertainment & Arts, Leisure & Hobbies, Consumer Technology, Food & Drink, Personal Finance, Business & Finance, Media & Marketing, Retail & Fashion, for more information visit https://pressreleasewire.responsesource.com/about.