The ‘rush’ from securing a bargain kicks in at £106, according to research. Research discovered the majority of shoppers (85 per cent) experience a thrill from a bargain, with many saying that the sensation sticks around for hours afterwards.
Based on the survey of 2,000 shoppers, this excitement typically occurs when purchasing something 20% cheaper than the original cost on smaller items, or saving around £106 on larger purchases. However, a fifth claim the strongest reaction stems from saving on big ticket items and holidays, as well as utilising loyalty points to make a purchase.
Additional deals that were likely to give shoppers a rush were reductions on something they really wanted, or getting something at half price. Afterwards, three quarters will tell friends and family about the excellent deal they got.
According to neuroscientist Nicole Vignola this occurs due to how our dopamine system functions. She explained: “The biggest highs come from saving on something essential, unlocking an upgrade, or getting a better deal than expected.”
This represents the reward prediction error – the brain’s enhanced response when circumstances prove better than anticipated. “We release a steady pulse of dopamine when we anticipate a reward, but we get a huge surge when the outcome exceeds our expectations,” she added.
The study commissioned by Virgin Red, the rewards programme that allows members to accumulate points on everyday spending, has revealed that loyalty points and the use of vouchers and coupons are the top strategies for saving money while shopping, enhancing the thrill of a bargain.
According to data from OnePoll.com, two-thirds of people utilise discount codes, and 52 per cent always ensure they collect points when they shop.
Three-quarters confessed they have postponed making a purchase until a better deal becomes available, such as an item going on sale, or until they have enough points to make a significant saving.
Vicki Simpson from Virgin Red added: “This research shows what we’ve always believed, that saving makes people feel good.
“It’s great to think our members get that dopamine hit every time they unlock experiences with points, whether it’s a coffee, a cinema trip, or a once-in-a-lifetime adventure. It’s about turning everyday adventure into lasting joy.”
TOP 10 TYPES OF SAVINGS WHICH GIVE THE BUZZ
- Saving on something I really needed
- Getting something half price
- Getting a better deal than expected
- Using a discount code successfully
- Saving on a big-ticket item
- Saving on travel or holidays
- Using loyalty points to make a purchase
- Buying something premium at a fraction of the price
- Getting cashback on a purchase
- Saving on everyday essentials
