Innovation

No Discount? No Sale, Say Canadian Consumers

A new study shows that half of Canadians refuse to pay full retail prices. Here's what they want instead

Written by Staff

If you think deal-hunters are in the minority, think again.

A new study of more than 1,500 Canadian consumers reveals that nearly half—49%—believe they shouldn’t have to pay full retail prices for goods and services.

Instead, they expect discounts, and a lot of them.

And they’re not exactly clipping coupons from weekly fliers—they’re using technology to save. A full 47% of respondents go online or use their mobile devices to hunt for coupons or discounts for non-grocery items. Buyers in Alberta, Ontario and B.C. are particularly hooked on the hunt for deals, with 56%, 52% and 50% of respondents actively seeking bargains, respectively.

Read: 3 Deadly Pricing Sins

Buyers are going mobile—big time

The study also proved that mobile is no longer a niche way to reach consumers. Younger shoppers are fully on board; 60% of 18- to 34-year-olds prefer to use their smartphones or tablets to nab discounts. That figure drops for those aged 35 and up, but at 41%, it’s still a considerable chunk of the buying population.

What kinds of deals are Canadian buyers looking for? The data shows they want frequent offers more than huge, “once in a blue moon” deals. Perhaps unsurprisingly, they also want offers that are aligned with their interests—they don’t want their inboxes clogged with promotions for stores at which they never shop. Perhaps it’s time to consider geo-targeting or other customizable mobile marketing tactics?

One potential challenge for SMEs: the majority (70%) say they want deals from well-known companies, meaning that the effectiveness of your campaign is likely to be closely tied to the value of your brand.

Read: How to Exploit the Advantages of Being Indie

The study—called the Canadian Shoppers Trend Report—was conducted by Angus Reid Forum on behalf of digital coupon website RetailMeNot.ca.

Originally appeared on PROFITguide.com