Nearly 3 in 4 shoppers (74%) are more sensitive to price in 2013 compared with 2012,  according to a recent survey of US consumers by Parago.

That increased price sensitivity may stem from shoppers' concerns about how much their dollars will buy, with 42% of survey respondents saying they feel their purchasing power has decreased in the past year.

Below are the additional findings from Parago's third annual Shopper Behavior Study.

Deal Seeking Increases

  • Before shopping, 80% of consumers surveyed said they look for deals, rebates, and the best prices, compared with 69% in 2012. 
  • 46% of consumers surveyed shopped where they could use their smartphones to check prices; only 11% did so in 2012. 
  • Price was the most important purchase driver for every income level below $200,000 and three times more influential on purchase decision than any other criteria overall. 

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image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

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Twitter: @ayaznanji