This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Retailers Try to Break Consumers' New Saving Habits

NEW YORK (TheStreet) -- Consumers' search for deals that keep more cash in their pockets brings memories of the Great Depression, when stretching a buck was a national pastime -- right up there with hating the Yankees and listening to Jack Benny on Sunday nights.

America can now boast twice as many savers than spenders, a recent survey from Gallup reveals.

Gallup reports that 62% of Americans choose saving over spending. In 2007 and 2008, before the economic storm hit, those numbers were narrower, with about 50% calling themselves "savers" and 45% calling themselves "spenders."

The big retail brands know all this and are busy trying to figure out what it takes to separate consumers from more of their money.

Must Read: If You're Looking For College Financial Aid, Start Right Now

Experian Marketing Services, a division of consumer credit ratings company Experian, is also looking into the mind of the consumer, and probably knows more about your savings and spending habits than you likely imagined, including that price really isn't what matters to U.S. retail consumers -- it ranks fifth, behind a store's environment, brands, convenience and customer service.

While they like and want deep discounts, Americans want those discounts to be simple and delivered on their terms

"It is critical that marketers know which customers want a deal, who needs a deal and who outright rejects them," explains John Fetto at Experian Marketing Services. "Knowing the difference can help marketers tailor deals and discounts for the right audience, in the right channels.

Experian cites different types of so-called deal-seekers, such as the "influentials" who are always chasing the next cool product and love to talk to other shoppers online and offline about value and quality in a product.

Then there are the offline deal-seekers, who are typically over the age of 55 and head straight for the bargain racks when they enter a store -- but don't want to talk about it on social media.

What demographic retailers most want to capture is the "deal takers," who are "highly educated and affluent" but won't typically seek a deal out. (They will take one if offered it.)

They, along with the "deal indifferents" (who could care less about any discounts -- just give them the product they want) likely make up the majority of U.S. consumers but also remain the most elusive to retailers.

Whatever category you fall in, know that the big retail brands are targeting you, with the full intent of turning you from a saver into a spender.

But if the recent economic data is right, that may be a real uphill climb.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TSLA $150.67 -7.30%
YHOO $26.90 -3.80%
AAPL $95.10 1.10%
FB $100.07 -3.80%
GOOG $688.38 0.70%


Chart of I:DJI
DOW 15,945.48 -81.57 -0.51%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs