With the dawn of spring and more hours of sun to give off some positive vibes, more of us are willing to go outside, spend some time downtown, maybe catch up with a friend and stroll around to look at the shop windows. With this occurrence, a couple of questions arise: will you actually enter the shop? Then, if you go into the shop, will you make a purchase?
A recent study has revealed that almost half of women have to see a markdown of 41 percent or greater to even enter a store. This is thought to be the result of retail creating all sorts of possible occasions to offer sales all over the year to attract more customers and in turn, has generated higher expectations from consumers for increased opportunities to buy items at lower prices.
The study, a survey compiled by the analytics company First Insight found that “39 percent of consumers are willing to travel to another store in hopes of buying an item at a cheaper price.” Online shopping continues to attract consumers who are bargain hunters as well, as the prices are easy to track and compare. It is no surprise then that 60 percent of respondents said they would expect to see bigger price cuts online than in traditional physical shops.
A quote from the study goes on to state: “Consider all of the real and made-up occasions retailers plan sales around that create a constant reflection of the markdown lifestyle they’ve become accustomed to.” The study further goes on to ask: “With these constant sales in mind, why would consumers ever want to pay full price when another sale is right around the corner?”
Well, how about yourself? Would you enter a shop that isn’t currently having a sale?