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Web shoppers are less pessimistic than they were in the fall, survey shows
50% say they have cut back spending in the past few months in a survey conducted in February and March compared with 59% who said so in October. The survey by PriceGrabber.com shows shoppers are spending more time looking for deals on the web.
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Online shoppers are not quite as reluctant to spend as they were in the fall, according to a survey by comparison shopping engine PriceGrabber.com.
50% say they have cut back spending in the past few months in a survey conducted in February and March, compared with 59% who said so in a PriceGrabber survey in October and 56% in May. In the recent survey, 23% say they have not changed their spending habits, up from 16% in October, while 27% now say they try to save money regardless of the economic situation, down from 25% in the fall. The recent data is based on a survey of 4,239 shoppers who made purchases through PriceGrabber.com and was conducted between Feb. 10 and March 9.
Consumers are using the web to save money, the survey shows. 40% say they spend more time online now comparing prices, while only 1% say less; 26% say they spend more time finding and printing coupons, while 2% say less; and 26% spend more time shopping on the web, whereas 5% say they spend less time.
In other findings from the study:
- 91% of those surveyed say researching products online makes them more confident about their purchases, 75% say they look to purchase from web merchants that offer free shipping and don’t charge sales tax, and 54% say they search for coupons and discounts online even if they plan to purchase offline.
- While 47% say they will resist online retailers’ aggressive discounts on big-ticket items, 30% say they have purchased or plan to purchase a TV set or other consumer electronic product, 20% home improvement products, 12% kitchen appliances or furniture and 12% indoor furniture. 40% of consumers aged 18 to 34 say they have made or plan to make a major electronics purchase, compared with 26% of those 55 and older.
- 8% of those surveyed say they have lost their job, 1% say they are about to lose it and 12% fear they may lose their job.
- 62% of online shoppers say they have credit card debt, 32% have a credit card and no debt, and 6% have no credit card. Of those with credit card debit, 41% say they’ve reduced it during the recession while 14% say their debt has increased.
- 8% of respondents say the economy will improve enough in six months that they’ll be able to resume their prior spending, 21% one year, 34% two years, 15% three years, 7% four years and 15% five years or more.