NYSAVE - by Tyler Schmall
New York office - 646-873-7565 / usnews@swns.com
NEWS COPY - WITH VIDEO & INFOGRAPHIC: https://www.
It’s official – you should never go cheap when buying toilet paper, coffee or shoes, according to new research.
A new study of 2,000 Americans uncovered what things we’re okay with spending good money on, and what things we’d rather save money on.
Results showed Americans would gladly shell out for toilet paper, coffee, and toothpaste, but they cheap out and save money when it comes to hand soap, wine, and even eating out.
The survey, conducted by Slickdeals, found a surprising trend- many Americans will happily buy their clothes on the less expensive side.
Nearly seven in ten Americans (68 percent) reported they buy their casual shirts on the cheaper side, and another 58 percent said they emphasize saving money when it comes to buying jeans.
Interestingly, dress pants also get the low-cost treatment, with 44 percent saying they opt for the cheaper ones.
And we could make a case that Americans care more about their pets than themselves. Nearly every food item landed on the cheaper side list, but Americans shell out when it comes to pet food.
Important household items trended towards the expensive side, with beds, couches/chairs, and televisions cracking the “spend” list.
Also landing on the expensive side were skincare, makeup, large household appliances, and computers/laptops.
“This survey indicates that perceived value can greatly influence our shopping habits,” said Slickdeals CEO Josh Meyers, For example, coffee, toothpaste, and skin care products deserve a premium according to our survey, while other product categories seem to be viewed more as commodities where corners can be cut without an impact on value.”
The results showed that America’s relationship with money is an interesting one, with 83 percent considering themselves to be smart and savvy with money, but, amusingly, the average American says they only get good value on half of their purchases.
In fact, the average American says they resentfully spend $229 every month that they feel they don’t get their money’s worth on.
So which items are considered “bad value?”
Concert tickets were listed as the most overpriced item one can buy, with nearly seven in ten (69 percent) of Americans agreeing that they don’t get their money’s worth on them.
College tuition and health insurance rounded out the top three, each with 60 percent of Americans agreeing they’re overpriced.
And don’t forget about movie theater snacks -- well over half (58 percent) of respondents said movie theater popcorn was a rip-off.
The results also pinpointed exactly when certain items become officially “expensive.” For instance, a steak dinner becomes expensive at $34, a bottle of wine at $31, nice shoes at 58, and a pizza at $20.
Meyers added, “Saving money doesn’t necessarily have to involve sacrifice. At Slickdeals, the leading crowdsourced shopping platform, we believe consumers can optimize for both quality and price. Our platform empowers consumers with knowledge that helps them make informed decisions and get the best value, whether they are buying a refrigerator or hand soap.”
ITEMS AMERICANS SAVE ON VS. SPEND ON
| Save | Spend |
| Hand soap, dish soap, paper towels, wine, eating out, casual shirts, small household appliances, jeans, dress pants, dresses, socks, handbags, sunglasses, belts, jewelry, produce, bread, cheese, butter, chips/snacks, spaghetti sauce, beer, bottled water, milk, over the counter medicine, sunscreen, razors, cooking supplies, soda, phone chargers, headphones, shampoo, cereal, pizza, garbage bags. | Toilet paper, toothpaste, toothbrush, skincare, coffee, dress shirts, shoes, large household appliances, laptops/computers, mobile devices, coats, facial creams/cleansers, TVs, pet food, laundry detergent, bed, couches/chairs, makeup. |
TOP 20 MOST OVERPRICED ITEMS
Concert tickets 69%
College Tuition 60%
Health insurance 60%
Movie theater popcorn 58%
Gas 58%
Sport game tickets 58%
Car repairs 57%
Movie ticket 55%
Cigarettes 53%
Car insurance 52%
Apple products 51%
Rent 51%
Cable 5%
Airline tickets 50%
Weddings 50%
Medicine 50%
Hotels 44%
Utilities 44%
Wine at a restaurant 43%
Textbooks 38%
