+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Here's The Biggest Mistake Shoppers Make At The Store

May 2, 2013, 02:21 IST

Flickr/europedistrictMore than 90% of consumers said they're always looking for ways to save in a new survey by RetailMeNot.

Advertisement

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.

Advertisement

What gives?

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.

Advertisement
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article