LEWISVILLE, Texas — Ninety-five percent of consumers are interested in products that come with rebates, while 80% of consumers actively seek out rebates, according to an annual consumer survey by rebate provider Parago.
The survey found that consumer preference for rebates versus instant discounts is growing. And while economic recovery may be on its way by the numbers, consumer sentiments around spending are still timid.
"With our third annual study of consumer shopping behavior, we have seen sustained sensitivity to price and willingness to hunt for bargains," Parago president and CEO Juli Spottiswood said. "Price perception is king, and consumers are indifferent to how that price point is achieved, whether through rebate, coupon, club or sale."
However, Spottiswood added, because consumers understand that rebates offer deeper discounts than other sales, there is a strong interest in the promotions and shoppers actively are looking for rebates before and during the shopping experience.
"As such, marketers are able to leverage rebates to drive lower price perception while gaining high value customer information during the redemption process," she said.
The rebate research was conducted independently through online delivery and surveyed more than 1,000 consumers. Key findings include:
Consumers' preference for higher value rebates versus instant discounts grew;
80% of consumerssaid they look for rebates;
Because rebates are only offered for a specific period of time, they make 54% of shoppers feel like they caught an exclusive sale; and
57% of consumers feel that rebates nowadays are easy to redeem.