A new survey indicates that retailers gain multiple benefits from offering deals to online shoppers.
According to a survey of 2,000 general population online U.S. consumers from social shopping platform Slickdeals, respondents spend 83 hours annually scrolling online for the best sales, saving nearly $10,000 a year. More than two-thirds (68%) of respondents love to hunt for deals just for fun, and 65% believe finding an online sale brings unmatched satisfaction.
In good news for retailers seeking to save money on e-commerce advertising, the survey also reveals that a satisfied customer will often serve as a free source of online promotion. Sixty-nine percent of respondents said they want to share their good deals so others can find great purchases, too.
In addition, 58% of respondents feel inclined to tell strangers how much money they saved when complimented on their outfit that they bought on sale. Interestingly, a slightly lower percentage (56%) brag to their friends and family about an online sale they found.
Respondents were asked what steps they would take to obtain an online deal. The top five answers were:
Take an online survey (63%)
Sign up for an email newsletter (59%)
Sign up for a rewards program (51%)
Sign up for text updates (50%)
Apply for store credit card (28%)
Other interesting findings include:
Three in four respondents look for deals online because they want to save money.
45% of respondents will only buy products if they're on sale — claiming they'll never pay full price for something they find online.
Three-quarters of respondents said they care more about finding the best value than just buying into a sale because something is cheap.
In order to catch products right when they go on sale, 44% of respondents have sale alerts set up. Eighty-nine percent of those using sale alerts said it made finding online deals significantly easier for them.
Respondents will keep their eyes on a pending deal for an average of nine days before giving up. Currently, respondents said they're keeping their eyes peeled for deals on clothes (44%), shoes (33%) and groceries (31%).
According to respondents, the hardest things to find online right now include video game consoles (21%), computer parts (17%) and home appliances (15%).
Fifty-one percent of respondents will purchase a hard-to-find product, even if it's not on sale. Half said they didn't like or care for people who resell and scalp hard-to-find products online.