Survey: 67% of people are willing to spend more time to get a good deal
The changed economic environment has strongly affected the entire local commercial landscape. People are struggling with the rising prices, and this directly affects purchasing power and consumption habits. A Norstat survey shows that the majority of people are willing to spend up to half an hour more time than usual to visit different stores where the products they need are at a better price.
The loyalty of regular visitors to all retail chains is low, and the current economic situation is not helping with that. "People are constantly looking for ways to pay less for food and non-food products." "More and more people are willing to sacrifice their valuable time to find bargains on everyday products," says Kaimo Niitaru, Director of Assortment and Procurement at Prisma.
According to the survey, different chain stores are mainly visited to satisfy unexpected cravings. However, almost half of the respondents stated that they visit several different stores precisely because of the discounts. Only 16% stated that they buy products from the store where they are of the highest quality or freshest.
It also turns out that among the main visitors of different store chains, approximately 25–40% have started visiting other stores in addition to their main store due to price increases. "This is a very clear signal to all market players that times are tough and decisions are driven by the wallet. Unfortunately, this means sacrificing one’s comfort or free time, which could otherwise be spent with family, hobbies or other things people enjoy, or even helping those in need," Niitaru explains.
With all the advertising, it may seem that there is a campaign ongoing in every store at any moment of time, but Prisma is actually one of the few retail chains that offers consistently good prices. “This is and remains the fundamental principle of Prisma throughout. In December, we decided with our employees to donate the time we freed up from shopping at one chain store only, to charity," Niitaru invites others to follow their lead.
Prisma also encourages everyone to shop reasonably during the Christmas season and donate their time to those in a more vulnerable position in the society, who may feel particularly lonely or vulnerable during the holidays. Ideas for donating your time can be found, for example, on the websites www.vabatahtlikud.ee or www.annetameaega.ee.
The survey, organised by Norstat Estonia, took place between 10 and 23 September 2024 and was responded to by 700 respondents aged 20–60 from Tallinn, and Harju, Tartu, Rapla and Ida-Viru counties.