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Bloomberg Article: Inflation-Battered Shoppers Turn to Apps for Savings
1 month ago
Downloads of deal-hunting tools such as Price.com, Fetch and Upside surged 40% in the first 10 months of this year.
Annie Taylor was about to drop $100 on a new pair of Steve Madden boots at the mall. Then she remembered to scan the barcode using the Price.com app and found the same pair online for about $30 less.
“Price finds all these websites I never even heard of and makes it easy to find deals,” said Taylor, a 31-year-old personal assistant who lives in Los Angeles and has been using the app since a friend recommended it. “I got $100 boots for $67, so I was pretty happy.”
Taylor is part of a rapidly growing cohort of US consumers turning to apps and web browser extensions that help them compare prices, find coupons and maximize loyalty rewards from retailers and brands. Most of the tools have been around for years but are suddenly in demand thanks to the steepest inflation in four decades. It’s the kind of shock that compels consumers to break from long-established shopping habits in search of new ways to save, especially during the holiday-shopping season.