Laine Bergeson compiles some compelling statistics around spending from Mark Ellwoods new book, Bargain Fever.
I’m reading the new book Bargain Fever: How to Shop in a Discounted World by Mark Ellwood. (This weather gives me the itch to shop, but I’m still paying off my Christmas splurges so I’ve opted for reading about shopping instead.) It’s a look at the history and culture of shopping in America. If you’ve ever bought anything in a store, you’d find this book interesting.
Here are some of the interesting facts I’ve learned so far:
We’re addicted to sales. The number of Americans who would purchase clothes only on sale went up from 16 to 23 percent in the four years after 2007. That’s nearly one-quarter of the population.
The wealthy like sales the most. Among Americans earning $150,000 or more annually, the number of people who would purchase things only on sale increased from 10 to 20 percent since 2007.
There are more “sales” today than ever before. In 2011, researchers sold 40 to 45% of their inventory at some type of promotional price. In 2001, they sold just 15 to 20% of their merchandise at that price.
TELL US: Are you a bargain shopper? What sales strategies always entice you to make a purchase? Comment below or tweet us at @ExperienceLife.