The ubiquity of in-store deals and discounted products has inured consumers to the excitement of the shopping experience, according to a new report from Deloitte and the Harrison Group.
Discounted items are becoming a routine and expected aspect of the shopping experience. For nearly one-third of surveyed consumers, at least seven out of 10 items in their shopping carts are discounted. Even so, two-thirds of respondents claim they shop when they know products are on sale.
"Shoppers today expect to get a deal on the products they purchase," said Pat Conroy, vice chairman and consumer products leader at Deloitte. "With this mindset it is critical that consumer products companies take measures to enhance brand loyalty by connecting early and often with key audiences in environments outside of the store."
Furthermore, a collusion of market forces and mobile technology has driven consumers to become more informed and smarter shoppers. The report also found three-quarters of respondents consider themselves to be smarter shoppers than they were a year ago.
Retailers should develop marketing, service and pricing strategies that reflect their customers' expanding depth of knowledge.