NEW YORK — In an era of rising prices and economic uncertainty, Americans are finding solace and excitement in the art of bargain hunting. A recent survey reveals that not only do shoppers experience a measurable “high” from finding a good deal, but they’re also becoming increasingly savvy in their pursuit of savings.
With 82% of Americans searching for deals more often than ever before, it’s clear that bargain hunting has become a national pastime of sorts.
For the study, 2,000 Americans adults were polled about their shopping habits and attitudes towards deals. Results show that the average American experiences a post-purchase glow that lasts precisely 216 minutes – that’s three and a half hours of pure bargain bliss.
For some lucky shoppers, the high extends even further, with one in ten respondents reporting that they stay on cloud nine for the rest of the day after finding a great deal. Nearly a quarter of those surveyed (22%) ride the wave of a good deal for at least four hours.
The survey, conducted by Talker Research and commissioned by Ollie’s Bargain Outlet, paints a picture of a nation that’s not just bargain-conscious, but bargain-proud. A whopping 54% of respondents crown themselves the best bargain hunters they know, up significantly from 34% last year.
Americans aren’t shy about their shopping victories either. The study found that 59% of respondents would brag about finding a good deal. Friends are the most likely to hear about these triumphs (51%), followed by partners (40%) and extended family members (27%).
So what constitutes a good deal? On average, shoppers are looking for a 36% discount to consider a purchase worthwhile. However, some drive an even harder bargain, with one in five respondents claiming they need an item to be at least half off to bite.
Time is money for a third of respondents (32%) who would only wait up to a week for an item to go on sale before they end up buying it at full price.
To get the most out of their shopping trips, 48% tackle shopping with a plan and mostly or completely stick to it. However, 30% admit to veering from their plan when they get into the store, while one in five completely wing their shopping trip.
Despite the focus on savings, Americans aren’t denying the fun they’re having. Three-quarters of respondents (74%) share that they enjoy shopping, particularly at grocery stores and clothing stores (68% each). Hobby shopping (48%) and home shopping (45%) also ranked high as enjoyable kinds of shopping.
On average, Americans leave about 14 extra minutes while shopping just to “look around.” This browsing time can be dangerous for the wallet, as more than half of Americans (56%) will never pass on a good deal, even if they don’t need something. It’s no wonder the same percentage say they need to avoid certain parts of a store to limit their spending.
The survey reveals that bargain hunting isn’t just a hobby – it’s becoming a necessity. With 82% of respondents searching for deals more often now than ever before to combat inflation (down slightly from 85% last year), it’s clear that economic pressures are driving shopping behaviors.
Despite these efforts, 85% of those surveyed said the prices of common items have increased where they live over the past year. This is a slight improvement from the 91% who reported price increases last year, but it still represents a significant majority of Americans feeling the pinch.
Americans continue to feel that certain items are overpriced, with gas (47%) and fast food (46%) topping the list. Grocery items are also a concern, with meat or fish (42%), eggs (34%), and milk (30%) being cited as more expensive than consumers want to pay.
However, there’s been a slight easing in concerns over some categories. The cost of clothing (33% vs. 41% last year) and personal care items (32% vs. 39% last year) are less of a worry this year.
Despite the focus on bargains, Americans still believe some items are worth paying full price for. Cell phones remain the top choice (21%, compared to 23% last year), followed closely by appliances (20%) and computers or laptops (20%). Quality food items also make the list, with coffee (16%), meat or fish (14%), and snacks (12%) being areas where some consumers are willing to splurge.
As economic pressures continue, the art of bargain hunting is likely to remain a crucial skill for American consumers. “As inflation and prices for everything consumers need continue to skyrocket, finding ways to stretch your dollar further is an important skill for consumers,” says said John Swygert, chief executive officer of Ollie’s.
With 60% of respondents claiming they can find a deal on any item, it’s clear that Americans are not just embracing frugality – they’re mastering it. As the thrill of the bargain continues to captivate shoppers across the nation, it seems that the real deal isn’t just about saving money – it’s about the satisfaction of outsmarting rising prices in an uncertain economy.
This random double-opt-in survey of 2,000 general population Americans was commissioned by Ollie’s Bargain Outlet between June 7 and June 11, 2024. It was conducted by market research company Talker Research, whose team members are members of the Market Research Society (MRS) and the European Society for Opinion and Marketing Research (ESOMAR).
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