Game on, John!
Everybody loves a good discount. In 2023, shoppers are navigating for the best deals and saving more than before. Women especially are grabbing great discounts to maximize savings. This chapter covers who's getting the best deals, where they're shopping, and how much they're saving.
Everybody loves a good discount. In 2023, shoppers are searching for the best deals and saving more than before. Women especially are grabbing great discounts to maximize savings. This chapter covers who's getting the best deals, where they're shopping, and how much they're saving
The 2023 discount game
This category includes all products that have received a discount, whether due to a sale, personal offer, bonus check, or campaign offer.
When looking at how much people save when they get a discount, we see a big jump in the last few years. People are saving much more today on discounted items than they did in 2021 and 2022.
In fact, the money saved on discounted receipts has gone up by 37% from 2022 and a whopping 135% since 2021. Now, when people buy something on sale or with a discount, they save an average of 108 SEK (9.84 EUR).
bigger savings in 2023
This big jump in savings started around May 2022. So, discounts are giving us better deals than they used to. In other words, the consumers are the winners here.
Are women the ultimate bargain hunters? The latest trends suggest so. Women are buying 10% more discounted items this year than last year, while men are buying equally as many discounted items as before.
In 2023, men and women are now buying equally as many products at discount. However, there was a significant difference in the amount saved on the items.
On discounted receipts, women are champion savers, securing about 45% more savings than men. This pattern suggests that women seek out discounts, and they have a talent for seizing them.
Men vs. Women:
Who is finding the best discounts?
All generations are buying more discounted items in 2023, and pocketing more savings than before.
Especially Gen Z and Millennials — they are native bargain hunters. These younger age groups are not just grabbing deals; they are maximizing them. Old stereotypes paint seniors as being the coupon generation. However, as discounts and bargains today are increasingly digitalized, older generations are potentially excluded from big savings.
From Gen Z to Seniors:
Who’s taking advantage of discounts?
Online shopping empowers consumers to effortlessly compare prices, especially on platforms that host multiple brands. There is always a discount waiting around the corner. And as we have seen, digital natives like Gen Z and Millennials are experts at navigating the best deals. While in-store and online shopping offer unique advantages, the question remains: where do consumers find the greatest discount savings?
Bargain hunters online vs. in-store
Nordic shoppers are picking up 10% more discounted items than last year. However, they are not spending more money on them — the total receipt value remains consistent. The bottom line? They save about 23% more than in the previous year when shopping at a discount, indicating retailers have increased the size of their discounts.
Physical stores are also ramping up the size of discounts. While customers only buy 4% more discounted items than before, the savings are substantial. Shoppers are pocketing a whopping 40% higher savings than last year on their discounted purchases.
We recently launched a loyalty program, opening new opportunities to work with discounts. Now, we can use them in a much more personalized way by connecting relevant discounts to customers interested in our offerings. We can also display the discounts throughout the customer journey - from our email send-outs to the site and in the checkout. With this new approach, we can simultaneously improve the customer experience and profitability.
Head of Growth at Apohem