Would You Say that Price is the Most Important Factor When Making a Purchase?

An interesting article by the NPD Group (a leading market research company) was recently published that stated that eighty-five percent of consumers say that the price needs to be right before they shop?  Would you agree with this for the most part?

They state that price trumps sales and special deals, customer service, and convenience as a factor in deciding where to shop for the majority of US consumers.

According to the NPD Group "By income, 87 percent of those in the household income bracket $25000 through $50,000 selecting price is extremely important, 85 percent of those in the household income bracket $50,000 to $100,000, and 82 percent in the $100,000+ bracket, according the The Economy Tracker*. 79 percent of young adults, ages 18 to 34, 86 percent of 35 to 44 year-olds, 88 percent of 45 to 54 year-olds, 89 percent of 55 to 64 year-olds and 86 percent of ages 65 and older said that price was extremely important."

*  The Economy Tracker is a monthly monitor of consumer sentiment about spending and the economy in general.

Anyway, we thought this to be very interesting in this trying economy.

Quote of the Day - "There is flattery in friendship" - William Shakespeare