Discounts, sales, or BOGO: which is your top money-saving tactic?

livemint.com:

As high inflation eats into purchasing power, over nine in 10 urban Indians (93%) say they intend to save money with smart shopping tactics in the coming year, a survey by YouGov found. The top tactics Indians wish to employ are comparing online and in-store prices (45%), shopping with discount codes (45%), and waiting for items to come on sale (42%). This is in line with global trends, where a similar share of respondents (93%) is looking at money-saving tactics, the survey shows.

The survey was conducted online in 18 countries with over 19,000 respondents, between 17 January and 1 February 2023, with the sample for India being 1,004 urban respondents. Top preferred tactics for Indian consumers include shopping at cheaper stores (39%), keeping within a tight budget (37%), and buying more products on buy-one-get-one (31%), among others. A peek into data of other countries shows interesting consumer insights.

For instance, consumers in the United Kingdom would rather opt for buying cheaper alternatives, using loyalty cards, and simply managing their budgets. Redeeming loyalty cards and schemes is the top tactic for the French and Australians. Germans would prefer to forego the product altogether, with 44% respondents in the country saying they would rather not purchase the item.

The survey also showed that high inflation hit disposable income of nearly 40% urban Indians over the last 12 months, lower than the global average of 50%. However, 66% of those surveyed in India are “worried" about their future spending, slightly higher than the global average of 62%. Clearly, inflation worries are high on the minds of Indian consumers.