In the unending quest for a deal, price isn’t the only consideration for consumers, but it’s an important one, finds research from Hawk Incentives, a business owned by prepaid specialist Blackhawk Network Holdings Inc.
In the “The Recession May Be Over, But Deal Seeking Isn’t” report based on a survey of 2,000 U.S. consumers, Hawk Incentives found that 92% said they “always” look for deals when they shop.
These deals, however, are not solely defined by price. Eighty-nine percent name price and 82% named quality as the top factors in their purchase decisions. In comparison, the brand was a factor for 45%.
As merchants pitch their products and services, they should know consumers also research deals, including looking for deals in loyalty-rewards programs, cited by 79%; reviewing circulars and print ads, 74%; using smart phones, 56%; and asking friends and family, 38%.
The research continues while shopping, too, with 41% using a smart phone to check for deals; 27% looking for deals, rebates, and advertised prices; 26% looking for deals in loyalty and rewards programs; and 22% asking friends and family.
“Smart phones and instant access to deals via thumb swipes and mouse clicks have perpetuated deal-seeking behavior, and shoppers now have an emotional and habitual propensity to stretch their dollars and maximize their purchase value,” said Theresa McEndree, Hawk Incentives vice president of marketing, in a press release.
In other Blackhawk news, the company announced late Friday that Jeffrey Fox left his board of director’s position following his appointment as chief executive at Endurance International Group, a small-business services firm.
Blackhawk said Fox’s departure was not because of any disagreement with the board or Blackhawk.