June 14, 2006 – The spring rebate season is nearing an end, but more and more consumers will be scrambling for a bargain. According to a study released yesterday by market research group Vertis, price is the most important factor when deciding which digital camera to purchase. The brand name is becoming less important to consumers.
“Results from the study show that offering consumers a discount or rebate can influence their shopping decisions,” said Vertis’ director of marketing research Scott Marden, in the press release. “The widespread accessibility of major name brands at home electronics stores has lessened its impact among consumers when deciding where to shop.”
According to the study, the brand name is the second-most important factor when deciding where to make a purchase for 29 percent of respondents. This is much less than the 40 percent of consumers who shared this opinion in 2004. With the brand name playing less of a role in purchases, discounts and special offers are stealing the spotlight.
Many manufacturers are bundling digital cameras with extras like printers, lenses, memory cards, and other incentives. Several offer rebate programs. Others simply slash the price, like Fujifilm’s announcement yesterday that it will drop its FinePix S5200 price to $299.
“Since consumers are always looking to upgrade their home electronics products, it is not surprising to learn that special offers like discounts and coupons are one of the most important factors for 19 percent of consumers, compared to 15 percent in 2004,” said Jim Litwin, vice president of market insights at Vertis, in yesterday’s press release.
To research their purchase, 30 percent of adults turn to advertising circulars while 21 percent head to the Internet first. The study found that 88 percent of women claimed to be the chief electronics shoppers or share the responsibility equally as compared to 94 percent of men.
