66% of Kiwi's Paying More Than They Have To?

New research released today reveals only 34% of Kiwi’s are savvy purchasers when it comes to buying household items, and 66% are paying more than they have to.

In a recent nationwide survey, researchers have revealed New Zealanders’ attitudes towards spending and shopping, through a combination of questions. Responses from a sample of over 900 Kiwis found Kiwi shoppers could be broadly defined by three categories; the ‘Bargain Hunters’, ‘Sceptics’ and ‘Impulsives’.

Not surprisingly ‘Bargain Hunters’ are getting the best buys, but not just because they’re shopping around or keeping an eye out for a good sale. They are unafraid to ask retailers for a discount. In fact, they tend to think the process of getting the best price is ‘fun’.

Typically, ‘Bargain Hunters’ are male, aged in their 30s and 40s and are controlled spenders. They are not embarrassed by the process of asking for a discount and believe that retailers expect customers to bargain.

“The old adage of ‘ask and you shall receive’ certainly rings true in the appliance retail sector – further discounts off the ticketed price are there for the taking, all the consumer has to do is ask,” says Jim Yule, Proprietor of The Good Guys Wairau Park, New Zealand’s newest appliance retailer.

“At The Good Guys, we actively encourage our customers to ask us for a discount off their purchases; it’s expected within our stores.”

This research reveals that 66% of Kiwi’s are paying more than they need to by not asking for a discount. ‘Sceptics’ are mistrusting of promotions, discounts, interest free offers, and are embarrassed to ask for discounts. Equally unlikely to test the opportunity to pay less are the ‘Impulsives’ who buy on the spot and often over budget. Both groups tend to be female shoppers.

In the appliance retail market, which is dominated by ‘interest free’ promotional advertising, newcomer ‘The Good Guys’ has commissioned the research with the official launch of the companies’ first two appliance stores. The company encourages consumers to opt for debt reducing payment choices with their ‘Pay Less, Pay Cash’, philosophy, and ask for a discount. Jim Yule explains;

“The concept of ‘Pay Less, Pay Cash’ originated back in times when paying on the spot with cash was a common way to negotiate a deal. These days you can pay any way you like, we’re just encouraging people to get the price down by asking for a discount.”

The Good Guys ‘Pay Less, Pay Cash’ philosophy also encourages customers to opt for payment methods that involve their own money, avoiding additional payments and unwanted debt associated with credit and finance schemes.

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About The Good Guys

Appliance retail giant The Good Guys has arrived in the New Zealand market with the official opening of their first two large format stores in Wairau Park and Botany Downs Auckland on July 15, 2010. A third, Manakau based store is set to open in September, 2010.

With their signature ‘Pay Less, Pay Cash’ proposition, the retailer intends to become synonymous with a wide range of products, friendly service and a unique low pricing model. The pricing model is highly competitive and customers are encouraged to get an even better deal by asking sales staff for a discount off the ticket price of goods.

The Good Guys New Zealand entry comes after almost 60 years of steady growth in the Australian market. Since its inception in 1952, The Good Guys have expanded their operations to now encompass 92 appliance retail stores across Australia.

The retail chain runs a joint venture partner model where a local ‘Good Guy’, who is intrinsically involved in his or her community, owns and runs the store.
Each store is divided into several areas including a tech zone, a TV zone and a home appliance area. All the major brands are represented including Apple computers and from Fisher & Paykel appliances are stocked alongside competitor brands, following the recent termination of Fisher & Paykel exclusive dealer arrangements.


About the research:
Think Global Research was commissioned by ‘The Good Guys’ to canvass New Zealanders’ attitudes to shopping and spending.
For more information, to arrange an interview or photographs, please contact;