We know that the currencies of time and money are paramount in determining how, when, and where a shopper will buy. With these two left to duke it out, which comes out on top? It’s a close race, but there’s a winner — money.
According to an Integer® and M/A/R/C® monthly shopper update, “The Checkout”, in February, deal-seeking was consistently ranked as the primary motivator for shopping. In addition, when looking at people’s primary shopping goals, spending as little money as possible (28%) comes in way ahead of spending as little time as possible in store (6%).
March data revealed that shoppers have an even stronger desire for value and savings vs. the previous couple months. The number-one criteria for store choice is being able to save as much money as possible (46%), followed by time-saving factors such as location convenience (40%), ease of finding items (22%) and quick check-out (18%).
When it comes down to it, shoppers are extremely value-oriented. Given the choice, the majority of them prefer to save money over time. Is our willingness to sacrifice or precious time for monetary savings a function of our values as a country? Or is it simply a reflection of our current economic situation?