Coupon code craze: Savvy online shoppers save over $10,000 a year hunting for deals

NEW YORK — From coupon codes to flash sale emails, it seems there are ways to save some cash at our favorite stores all the time. New research shows it pays to be a savvy shopper. The average American spends 83 hours annually scrolling online for the best sales, saving nearly $10,000 a year.

A survey of 2,000 Americans that shop online finds 65 percent believe finding an online sale brings unmatched satisfaction. Some respondents add the best deals they’ve ever found in their lives include huge discounts on designer clothing, exercise equipment, and jewelry. One respondent says they even scored a $500 flight from Hong Kong to Chicago so they could reunite with their spouse.

The art of (hunting for) the deal

Good Deals OnlineCommissioned by Slickdeals and conducted by OnePoll, the survey also reveals two in three people love to hunt for deals just for fun.

More than half the poll (56%) brag about a sale they spotted to their friends and family. Sixty-nine percent want to share their good deals so others can find great purchases, too. When a stranger compliments them on an outfit bought on sale, 58 percent feel inclined to tell them how much money they saved.

After finding a good deal, 52 percent of respondents need to sit back and reflect on their shopping success. On average, these reflections can last up to 30 minutes. Yet, finding deals is about more than just bragging rights. The poll finds three in four Americans look for deals online because they want to save money. In fact, 45 percent will only buy products if they’re on sale — claiming they’ll never pay full price for something they find online.

Just as many (75%) say they care more about finding the best value than just buying into a sale because something is cheap.

“Many of us have had the experience of discovering a great deal and wanting to share it with our friends and family,” explains Ryan Tronier, senior personal finance editor at Slickdeals, in a statement. “The access we have online helps us to share information with a greater pool of people and crowd-led deal hunting is becoming increasingly popular.”

Saving is a daily game for online shoppers

Good Deals OnlineIn order to catch products right when they go on sale, 44 percent of people have sale alerts set up on their phones. A whopping 89 percent of those using sale alerts believe they make finding online deals significantly easier for them.

Right now, respondents are keeping their eyes peeled for deals on clothes (44%), shoes (33%), and groceries (31%). Meanwhile, the hardest things to find online currently include video game consoles (21%), computer parts (17%), and home appliances (15%).

Fifty-one percent of Americans will purchase a hard-to-find product, even if it’s not on sale. However, half of respondents don’t like or care for people who resell and “scalp” hard-to-find products online. Interestingly though, 39 percent admit their feelings change if they’re suddenly the ones reselling products.

“Whether deal-seeking for bragging rights, fun or to save money, this survey illustrates that consumers are actively looking to find the best value for their dollar,” Tronier adds.

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About the Author

Chris Melore

Chris Melore has been a writer, researcher, editor, and producer in the New York-area since 2006. He won a local Emmy award for his work in sports television in 2011.

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