Bargain Fever

How to Shop in a Discounted World

Portfolio, 2013

15 min read

10 take-aways

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What's inside?

Bargain hunters have more arrows in their quiver than ever before. Learn how to hit your targets.

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Increased abundance and choice, the end of mass advertising, and transparency forced by the Internet are driving seismic changes in how retail buyers shop. Consumers know that today’s price tags “were not put there by the great printer in the sky,” but are often vulnerable to smart bargain hunters’ tactics. Retail journalist Mark Ellwood explains how shoppers can wield power, demand discounts, find savings and force sellers to capitulate. His dry sense of humor and creative phrasing add up to an especially enjoyable read. He might have included bulleted lists or end-of-chapter summaries to highlight his important points, but his afterword does offer 100 bargain-hunting tips to help convert “even a markdown newbie into a seasoned retail hacker.” getAbstract recommends Ellwood’s entertaining, practical and content-rich primer especially to marketers, as well as investors, wholesalers, and retail buyers and sellers, online and offline.

Summary

“Shopping 3.0”

Today, the average American supermarket stocks 45,000 items. This is 12 times more than markets carried in the mid-1960s. Yet the US population growth rate continues to decline. More supply for fewer people leads to the “Too Much Stuff Syndrome,” one factor that fuels the spread of “bargain fever.” In the century following the Industrial Revolution, limited distribution of goods and demand that outpaced supply gave manufacturers power over pricing and choice. After World War II, transportation and distribution improved; people moved to the suburbs and shopped at malls. Advertisers controlled the messages sent to mass audiences in the traditional media. Stores offered bargains and sales, but they still manipulated pricing, choice and supply.

Consumers now have the power. Retailers wrestle with overstock; discounts are commonplace. Shoppers expect and demand bargains. The Internet forces price transparency, renders traditional advertising obsolete and facilitates real-time price comparisons. As economic realities force shoppers to be frugal, abundant online information empowers them to demand the lowest possible prices. Even the wealthy want bargains: ...

About the Author

Journalist Mark Ellwood specializes in the subject of retail and has written for The Wall Street Journal, The New York Times and Condé Nast Traveler.

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U. K. 9 years ago

I used to download a book summery but now there is no option on the web page to download a book abstract.

Mark Ellwood