In an economic recession, consumers tend to cut budgets — but, provided discounts, they will continue to buy.
54 percent of adults said they would reduce discretionary spending, and 63 percent would not make a purchase if a deal isn't available - according to a Harris Interactive survey, MarketingCharts reports.
Fully 86 percent of adults surveyed used coupons or discount codes while shopping. But as economic slowdown pushes consumers to re-evaluate spending behavior and tighten budgets, deal-seeking may become more common:
- More than one in three adults (37 percent) say they would increase the use of coupons and discount codes during a recession.
- Among women, the figure is higher: 43 percent of them say they would do so, vs. 31 percent of men.
To find deals on discretionary purchases, adults are equally likely to look online as in stores (56 percent each). But they are less likely to look for deals elsewhere…
- Catalogs, brochures or flyers (46 percent)
- Coupon books (38 percent)
- Outlet malls (24 percent)
- Television (18 percent)
A copy of the full report, including a breakdown of regional and demographic data, can be found at http://www.retailmenot.com/harrispoll.
About the study: Harris Interactive (on behalf of Retailmenot.com) conducted the study online among 2,471 US adults age 18+, Feb. 13-15, 2008. Results were weighted as needed for age, sex, race/ethnicity, education, region, and household income.