PriceRunner Survey Highlights – Lowest Price Guarantee:
Amplitude Research® conducted this study over a 4-day period from April 6th to April 9th, 2007 among a nationwide web panel. There were 1,000 survey respondents, resulting in a +/- 3.1% maximum sampling margin of error at the 95% confidence level. In this case, the word “maximum” refers to the margin of error being highest for proportions from the survey near 50%,
while declining as percentages get further from 50%. For example, the sampling margin of error for a result from the survey near 10% or 90% would be +/- 1.9%. The +/- 3.1% margin of error applies to results from the survey near 50%.
The results showed the following:
- Most (89%) have heard of a “lowest price guarantee,” which allows consumers to get money back if they buy a product now but find it at a lower price later.
- Among those aware, nearly two-thirds (65%) have decided to make a purchase from a particular store or website at least partly because of this type of guarantee.
- In turn, among those purchasing a product with a “lowest price guarantee,” more than one-third (38%) said they have successfully received money back after showing a lower price
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88.8%
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It is worth keeping in mind that these results are based on a nationwide web panel, meaning that the study findings can be thought of as applying to regular Internet users. The results above, though, are still noteworthy because people can use the Internet in many different ways, which may or may not include shopping.
Cross Tabulation of Data for Gender, Age and Political Preference:
Have you ever heard of a “lowest price guarantee” which allows consumers to get money back if they buy a product now but find it at a lower price a short time later? |
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Please indicate your gender: |
Which of the following categories includes your age? |
Which of the following best represents your political preference? |
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Female |
Male |
Under 35 |
35 - 49 |
50 - 64 |
65 or older |
Democrat |
Republican |
Neither / Independent |
|
A |
B |
C |
D |
E |
F |
G |
H |
I |
|
Yes |
469 88.16% |
419 89.53% |
351 88.41% |
340 89.47% |
168 87.96% |
29 90.63% |
279 88.29% |
261 93.21% |
240 87.27% |
No |
37 6.95% |
32 6.84% |
33 8.31% |
19 5.0% |
15 7.85% |
2 6.25% |
21 6.65% |
15 5.36% |
22 8.0% |
Not sure |
26 4.89% |
17 3.63% |
13 3.27% |
21 5.53% |
8 4.19% |
1 3.13% |
16 5.06% |
4 1.43% |
13 4.73% |
Total |
532 |
468 |
397 |
380 |
191 |
32 |
316 |
280 |
275 |
Mean |
1.17 |
1.14 |
1.15 |
1.16 |
1.16 |
1.13 |
1.17 |
1.08 |
1.17 |
Median |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
SD |
0.49 |
0.44 |
0.44 |
0.5 |
0.47 |
0.41 |
0.49 |
0.32 |
0.49 |
Significance |
|
|
|
|
|
|
H |
G, i |
h |
Significance Tests Between Columns: Lower case: p<.05 and Upper case: p<.01 |
Have you ever decided to make a purchase from a particular store or website because (or partly because) a “lowest price guarantee” was offered? |
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|
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|
Please indicate your gender: |
Which of the following categories includes your age? |
Which of the following best represents your political preference? |
||||||
Female |
Male |
Under 35 |
35 - 49 |
50 - 64 |
65 or older |
Democrat |
Republican |
Neither / Independent |
|
A |
B |
C |
D |
E |
F |
G |
H |
I |
|
No |
176 37.53% |
131 31.26% |
115 32.76% |
108 31.76% |
70 41.67% |
14 48.28% |
99 35.48% |
91 34.87% |
85 35.42% |
Yes, once or twice |
177 37.74% |
163 38.9% |
122 34.76% |
144 42.35% |
61 36.31% |
13 44.83% |
100 35.84% |
101 38.7% |
90 37.5% |
Yes, several times |
72 15.35% |
84 20.05% |
73 20.8% |
57 16.76% |
25 14.88% |
1 3.45% |
49 17.56% |
46 17.62% |
40 16.67% |
Yes, several times |
72 15.35% |
84 20.05% |
73 20.8% |
57 16.76% |
25 14.88% |
1 3.45% |
49 17.56% |
46 17.62% |
40 16.67% |
Yes, many times |
44 9.38% |
41 9.79% |
41 11.68% |
31 9.12% |
12 7.14% |
1 3.45% |
31 11.11% |
23 8.81% |
25 10.42% |
Total |
469 |
419 |
351 |
340 |
168 |
29 |
279 |
261 |
240 |
Mean |
1.97 |
2.08 |
2.11 |
2.03 |
1.88 |
1.62 |
2.04 |
2.0 |
2.02 |
Median |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
SD |
0.95 |
0.95 |
0.99 |
0.92 |
0.91 |
0.72 |
0.99 |
0.94 |
0.97 |
Significance |
|
|
E, F |
F |
C |
C, D |
|
|
|
Significance Tests Between Columns: Lower case: p<.05 and Upper case: p<.01 |
After purchasing a product with a “lowest price guarantee,” have you ever done any of the following? (Please select all that apply.) |
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|
Please indicate your gender: |
Which of the following categories includes your age? |
Which of the following best represents your political preference? |
||||||
Female |
Male |
Under 35 |
35 - 49 |
50 - 64 |
65 or older |
Democrat |
Republican |
Neither / Independent |
|
Looked for a lower price on the same product somewhere else |
167 |
180 |
157 |
131 |
52 |
7 |
107 |
98 |
93 |
Actually found a lower price on the same product somewhere else |
122 |
143 |
121 |
95 |
45 |
4 |
79 |
84 |
65 |
Tried to get money back after finding a lower price |
72 |
81 |
82 |
48 |
21 |
2 |
48 |
46 |
37 |
Successfully received money back after showing a lower price |
114 |
106 |
90 |
79 |
48 |
3 |
78 |
63 |
46 |
None of the above |
50 |
35 |
27 |
42 |
12 |
4 |
25 |
22 |
28 |
Cross Tabulation of Data for Education and Household Income:
Have you ever heard of a “lowest price guarantee” which allows consumers to get money back if they buy a product now but find it at a lower price a short time later? |
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|
What is the highest level of education you have completed? |
What is your total annual household income before taxes? |
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High school or less |
Some college or Associate degree |
4 year college degree / Bachelor's |
Graduate degree / Master's / PhD |
Under $35,000 |
$35,000 to $49,999 |
$50,000 to $74,999 |
$75,000 to $99,999 |
$100,000 or more |
|
A |
B |
C |
D |
E |
F |
G |
H |
I |
|
Yes |
162 84.38% |
388 91.29% |
249 88.61% |
87 89.69% |
170 84.16% |
190 90.48% |
250 88.97% |
139 90.26% |
113 94.96% |
No |
15 7.81% |
23 5.41% |
22 7.83% |
6 6.19% |
15 7.43% |
11 5.24% |
22 7.83% |
11 7.14% |
5 4.2% |
Not sure |
15 7.81% |
14 3.29% |
10 3.56% |
4 4.12% |
17 8.42% |
9 4.29% |
9 3.2% |
4 2.6% |
1 0.84% |
Total |
192 |
425 |
281 |
97 |
202 |
210 |
281 |
154 |
119 |
Mean |
1.23 |
1.12 |
1.15 |
1.14 |
1.24 |
1.14 |
1.14 |
1.12 |
1.06 |
Median |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
1.0 |
SD |
0.58 |
0.41 |
0.45 |
0.45 |
0.59 |
0.45 |
0.43 |
0.4 |
0.27 |
Significance |
b |
a |
|
|
g, h, I |
i |
e, i |
e |
E, f, g |
Significance Tests Between Columns: Lower case: p<.05 and Upper case: p<.01 |
Have you ever decided to make a purchase from a particular store or website because (or partly because) a “lowest price guarantee” was offered? |
|||||||||
|
|||||||||
|
What is the highest level of education you have completed? |
What is your total annual household income before taxes? |
|||||||
High school or less |
Some college or Associate degree |
4 year college degree / Bachelor's |
Graduate degree / Master's / PhD |
Under $35,000 |
$35,000 to $49,999 |
$50,000 to $74,999 |
$75,000 to $99,999 |
$100,000 or more |
|
A |
B |
C |
D |
E |
F |
G |
H |
I |
|
No |
60 37.04% |
125 32.22% |
92 36.95% |
30 34.48% |
61 35.88% |
74 38.95% |
87 34.8% |
45 32.37% |
35 30.97% |
Yes, once or twice |
62 38.27% |
158 40.72% |
91 36.55% |
28 32.18% |
73 42.94% |
72 37.89% |
101 40.4% |
44 31.65% |
41 36.28% |
Yes, several times |
23 14.2% |
65 16.75% |
44 17.67% |
24 27.59% |
23 13.53% |
25 13.16% |
40 16.0% |
35 25.18% |
25 22.12% |
Yes, many times |
17 10.49% |
40 10.31% |
22 8.84% |
5 5.75% |
13 7.65% |
19 10.0% |
22 8.8% |
15 10.79% |
12 10.62% |
Total |
162 |
388 |
249 |
87 |
170 |
190 |
250 |
139 |
113 |
Mean |
1.98 |
2.05 |
1.98 |
2.05 |
1.93 |
1.94 |
1.99 |
2.14 |
2.12 |
Median |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
SD |
0.97 |
0.95 |
0.95 |
0.92 |
0.89 |
0.96 |
0.93 |
0.99 |
0.97 |
Significance |
|
|
|
|
|
|
|
|
|
Significance Tests Between Columns: Lower case: p<.05 and Upper case: p<.01 |
After purchasing a product with a “lowest price guarantee,” have you ever done any of the following? (Please select all that apply.) |
|||||||||
|
|||||||||
|
What is the highest level of education you have completed? |
What is your total annual household income before taxes? |
|||||||
High school or less |
Some college or Associate degree |
4 year college degree / Bachelor's |
Graduate degree / Master's / PhD |
Under $35,000 |
$35,000 to $49,999 |
$50,000 to $74,999 |
$75,000 to $99,999 |
$100,000 or more |
|
Looked for a lower price on the same product somewhere else |
57 |
152 |
102 |
36 |
56 |
65 |
98 |
65 |
53 |
Actually found a lower price on the same product somewhere else |
42 |
106 |
86 |
29 |
39 |
49 |
77 |
53 |
37 |
Tried to get money back after finding a lower price |
27 |
58 |
53 |
15 |
19 |
27 |
46 |
31 |
23 |
Successfully received money back after showing a lower price |
36 |
94 |
68 |
20 |
33 |
41 |
59 |
40 |
32 |
None of the above |
19 |
36 |
23 |
7 |
25 |
17 |
26 |
9 |
8 |
