Price pressures still a major influence on US retail market

US Americans are back shopping, but most look for bargains over brands.

Here are the results of a survey conducted in December 2011 by WSL Group:

Discount, Discount

  1. Nearly three-quarters (75%) of female shoppers say “it’s important get the lowest price on everything they buy, up 12 percentage points. from 2008 and up 22 percentage points from 2004.
  2. 68% regularly use coupons to reduce costs — up 7 percentage points. vs. 2010.
  3. 45% claim they only buy items that are on sale — also up 7 percentage points.
  4. 43% make a point to search online for store discounts before they shop — up 10 percentage points.
  5. 66% ask themselves “Is this a smart use of my money?” before making a purchase (47% with household income of over $150,000).
  6. 58% claim to stick to brands and stores they can afford (36% with household income of over $150,000)
  7. 48% claim to stay out of stores where they might be tempted to overspend
  8. 43% claim to buy less when they go shopping

Well known brands need to work harder to be relevant

  1. 67% of surveyed women agreed that trusted brand names are not worth paying more for.
  2. 26% claim to have given up buying brand name products they know they could not afford.(up 7 percentage points from 2010.

Rich or middle class?30% of Americans in the $100-150K income bracket claim they can only afford the basics. Once considered affluent, six-figure income shoppers are now identifying themselves as middle-income.

This internet survey was conducted by WSL/Strategic Retail conducted from December 1-12, 2012. The survey called “How America Shops® MegaTrends report,Moving On 2012” included 1,950 respondents drawn from a nationally representative online same.