More than 90% of consumers said they’re always looking for ways to save in a new survey by RetailMeNot.
But wanting something and doing the legwork to get it are two entirely different concepts. Whether shoppers like to admit it or not, sometimes we’re just too busy getting in and out of the grocery store to bother hunting down sales.
In fact, when a Stanford University professor tracked shopping trips of more than 100,000 consumers, he found the majority of people missed sales.
In order to tempt shoppers, Professor Stephan Seiler used on one of the hottest household buys on the market as bait –– laundry detergent discounted from 20% to 30%.
Still, he found customers missed the promotions on about 70% of their trips to the store.
According to the study, most consumers make one big weekly shopping trip and spread the rest of their purchases out in smaller trips as needed throughout the week. And on smaller trips, people often miss discounts as they try to dash in and out of the store as fast as possible, Seiler found.
People also often tend to buy items like detergent in bulk to cut down on “purchasing frequency,” Seiler notes. And even if there is a deal, they won’t buy a new pack because they don’t have the room to store it. But the money they save by buying in bulk is likely less than they could save by taking advantage of a 20% to 30% off deal.
“If people are really price-sensitive, and they really like the lower price from the larger sizes, then I should also see massive reactions to promotions,” Seiler says.
The takeaway: Don’t let your busy schedule cost you at the register. Take your time at the store and spend a few minutes browsing for the best deals on the shelves. Your budget will thank you.