SAVVY SHOPPING SURGES AT OLLIE'S: AMERICA'S LARGEST Closeout RETAILER DECLARES BARGAIN HUNTING IS HERE TO STAY!

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Aug 14, 2023, 09:00 ET

According to a Recent Survey, 87% of Americans Will Carry Money-Saving Habits with Them Forever

HARRISBURG, Pa., Aug. 14, 2023 /PRNewswire/ -- Amid inflation, Ollie's, America's largest retailer of brand name closeout merchandise, has witnessed a significant surge in bargain shopping. Today's consumers increasingly recognize the importance of bargain hunting in stretching their budgets and making the most out of their hard-earned dollars. They are not letting go of their newfound skill anytime soon according to a recent survey. With National Bargain Hunting Week running August 14 – August 20, there's no better time for savvy shoppers to shine!

A recent OnePoll survey conducted on behalf of Ollie's examined Americans' shopping habits and found that 85% of respondents find themselves searching for deals today more than ever before because of inflation – a significant increase from the 67% who said the same thing last year. And, eight in 10 believe that finding items on sale is important in today's economy.

"In times of economic uncertainty, we see consumers becoming more cautious about spending their hard-earned money," said John Swygert, President and Chief Executive Officer at Ollie's. "That's why it's more important than ever to provide customers with great deals on brand name products to help stretch their dollar even further."

This bargain-hunting mindset shows no signs of going away. Thirty-six percent said they will always look for a deal even when their finances are doing well, and 87% of respondents said they'll carry money-saving habits with them forever.

In fact, Americans are staying away from paying full retail price, as 45% shared they're less likely to purchase an item if it's full price, which increased from just 25% last year.

On average, Americans estimate an item needs to be at least 36% off to consider it a bargain. But one in five are not budging, saying they need the item to be 50% off or more for it to be worthwhile.

"Today's shopper is more knowledgeable than ever before. They know a great deal when they see one and won't settle for full retail price," said Swygert. "That's why Ollie's works to find the best deals on brand name merchandise at up to 70% off and passes the savings on to our customers."

For more information, visit www.ollies.us.

About Ollie's
We are America's largest retailer of closeout merchandise, offering Real Brands and Real Bargain prices!^® We offer extreme value on brand name products in a variety of departments, including housewares, food, books and stationery, bed and bath, floor coverings, toys, health and beauty aids, and more. We currently operate 488 stores in 29 states and growing! For more information, visit www.ollies.us.

About SWNS Media Group/Survey Methodology
This random double-opt-in survey of 2,000 general population Americans was commissioned by Ollie's between July 21 and July 25, 2023. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR). For more information about OnePoll's research in the media, please view their website here: https://www.onepoll.us/.

SOURCE Ollie’s