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When was the last time you paid the full retail price? According to a recent article in The Wall Street Journal (Attention, ‘Discount Junkies’) about 15% of shoppers generally pay full price for items and don’t bother searching for sales. At the other extreme, a fifth of online shoppers are considered true “discount junkies,” people who make purchases only when offered discounts.
Discount shoppers are clearly reluctant to spend on premium brands if value is missing. In fact, in C. Britt Beemer and Robert L. Shook’s book “It Takes a Prophet to Make a Profit: 15 Trends that are Reshaping American Business” published back in January 2001, Trend 6 states:“Consumers Are Reluctant to Pay Full Retail Price”
Their research showed that more than 85 percent of all consumers in America shop for merchandise on sale. For those who pay full retail, 44 percent said they did so because they didn’t have time to shop. In addition, they discovered....
Consumers simply hate to pay full retail price. Here's valuable ammunition for retail marketing strategists.