Shoppers are more attracted to discounts in designer fashion than in any other sector of retail, new research suggests.
In a survey carried out by online sales platform Brand Alley, 80% of shoppers said they would be more likely to buy a discounted designer fashion item than goods in the high street fashion, childrenswear, beauty, cosmetics, homeware or food categories.
The research also showed that the majority of shoppers do not consider an item a ‘bargain’ unless it is reduced by more than 50%, and that most expect to find retailers discounting all year round.
For more than half of the shoppers quizzed, a retailer’s online platform was the first port of call for discounts, followed by the high street.
The research, designed to track trends in consumer habits, is based on a survey of 2,000 Brand Alley shoppers with analysis from consumer psychologist professor Karen Pine.
She said: “Luxury goods are status purchases. Psychologically they make people feel good because they believe them to be of superior quality and only available to a select few. Socially they believe these goods elevate their status in the eyes of others, making them appear ‘special’ or more important.”
Brand Alley said the research suggests a “psychological shift” that has taken place among consumers, who are now savvier and more adept at finding a bargain. Of the 2,000 shoppers surveyed, over a third said they had made savings of more than £1,000 in the past year from discounted goods.
Pine added: “Retailers try to price their offerings so that the consumer feels they have got a good deal. As more and more is known about the psychology of pricing, retailers have had to wise-up to the fact that how they present a price can have a huge impact on sales.”