Most consumers Do Not shop around.

More than half of American consumers (62 percent) do not compare prices at two or more brick and mortar stores before making most purchase decisions, according to survey results commissioned by the Grizzard Performance Group, part of one of the top 10 direct marketing firms in the U.S.

The survey results, which included information from more than 13,000 consumers, also found that for those who researched options for and decided to purchase a particular brand of product via the Internet, nearly two-thirds of respondents (64 percent) would consider purchasing a comparable brand if they received a direct response offer of a 15 percent discount for the comparable brand, despite their research.

“These survey findings underscore the time famine experienced by American consumers,” said W. Michael King, group vice president of the Grizzard Performance Group. “As a result, marketers today have to be smarter than ever to connect with consumers at the point of consideration. The good news is that even if your product hasn’t been allowed in the consumers’ consideration set, the right offer at the right time that values the consumers’ time can still pierce this consideration armor and impact buying decisions.”

King added, “While cost savings remain an important motivator in a purchase decision, time is even more precious to consumers. The key is to determine the optimal delivery of right offer that recognizes how time-famished today’s consumers are.”

Respondents indicate that they are passive bargain-shoppers, waiting for the sale to come to them, further analysis shows. While about half will wait for products to go on sale, most do not actively comparison-shop.

Findings from the study also show:

Significantly more African American and Hispanic respondents said they would be very likely to use a direct mail offer, compared to White respondents (18 percent, 15 percent and 10 percent respectively).

Twice as many respondents age 18-24 years old said they would be very likely to use a direct mail offer compared to those ages 45 and older (18 percent vs. 9 percent respectively).

The majority (85 percent) do not give advice about what to buy, where to shop, places to visit or restaurants to try.
Sixty-three percent believe generic products are usually just as good as brand-name products.

For more information at http://www.grizzardpg.com