Loyal Consumers Prize Quality More Than Deals

Merchants looking to acquire new customers would be well served to prioritize deals and convenience.

For the latest edition of the PYMNTS Consumer Inflation Sentiment report, “Consumer Inflation Sentiment: The False Appeal of Deal-Chasing Consumers,” PYMNTS surveyed more than 2,100 United States consumers in February to get a clearer sense of how inflation has been affecting their shopping habits and relationships with retailers. The study identified three distinct types of shoppers: deal chasers, loyal consumers and persuadable consumers.

Each of these groups is driven by different factors. The deal chasers shop for the best price, the loyal consumers stick with their favorite merchants, and persuadable consumers can be persuaded to shop for different reasons. These motivations hold constant whether they are shopping for retail goods or groceries.

As the name of the group indicates, deal chasers are more likely to be motivated by price and discounts than any other concern. Sixty-two percent cited this as the most influential factor when deciding where to buy retail products, and 45% of deal chasers cited it as the top factor affecting their choice of grocery merchant.

Loyal consumers are influenced by a wider range of factors. Thirty-five percent listed ease and convenience as the top concern influencing where they purchase groceries. When it comes to retail products, loyal consumers are most likely to be motivated by prices and discounts, with one in three listing this as the most important motivator.

The persuadables, meanwhile, look for a quick, simple experience no matter what they are shopping for. For this group, 40% listed ease and convenience as the top decider of where they purchase groceries, and a similar share said this factor is the most influential in determining where they buy retail products.

Notably, loyal consumers are more likely than any other group to be motivated by the quality of the products and services, with 15% listing this as the most influential factor determining where they shop for grocery products and 18% saying the same of retail. They are over 50% more likely than any other group to be motivated by quality.