Survey finds that shoppers are looking for bargains
Americans will respond to a slowing economy by becoming bargain hunters during the upcoming holiday shopping season, according to a survey released today by MasterCard Inc.
Twenty-nine percent of U.S. shoppers expect to focus more on finding good deals on merchandise this year than last year. Consumer cost-saving strategies also include shifting spend towards practical items, such as gift certificates or gift cards.
The findings were included in a survey of 1,000 adults aged 18 and older commissioned by Purchase-based MasterCard, the second largest credit card brand.
The 2008 holiday shopping season “is all about the smart shopper,” said Rob Sheets, group head of U.S. commerce development at MasterCard.
The top way that Americans plan to economize during the holidays is by patronizing stores that offer special discounts, including free shipping or rebates (42 percent of shoppers). In addition, 28 percent said they will be searching for bargains on Black Friday, the traditional start to the holiday shopping season after Thanksgiving.
According to the survey, other practical shopping strategies include:
•Shopping online (34 percent)
•Seeking early bird specials (30 percent)
•Waiting for last minute deals (28 percent)
•Purchase gift certificates or gift cards for holiday gifts (53 percent).