Recession Shoppers Become Value Hunters
As bad economic conditions persist, a shopping behavior that had been an occasional habit for some consumers has now become a routine — turning to the internet to find the best deal.
This finding was gleaned from a recent study by Penn, Schoen & Berland Associates, commissioned by LinkShare, a performance marketing network provider, and gsi interactive, a division of GSI Commerce, a multichannel e-commerce solutions provider.
The study coined these online shoppers “value hunters.”
Research by PSB conducted earlier this year identified the birth of “recession shoppers.” These consumers claimed that as economic situations worsened, they'd look to the internet to find the best deals. Now, as the economy remains in a downturn, online shoppers continue to be focused on value — in quality, price, convenience and time — making “value” the new core theme among online consumers.
The research found the following:
- 72 percent of value hunters look for the best value regardless of brand;
- 51 percent of value hunters look for incentives when making online purchases;
- 63 percent of value hunters have purchased something online they wouldn’t have normally because of a special offer;
- 68 percent of online shoppers search for value in the form of coupons and special promotions;
- 45 percent of value hunters purchase something online once a week or more;
- 47 percent of consumers prefer shopping online to shopping in stores; and
- 22 percent of shoppers plan to make more purchases online this year compared to last year.