When it comes to hunting for supermarket specials, Kiwis are the best in the world.
Six out of every $10 spent at New Zealand supermarkets goes on items that are on special, new Nielsen research found.
That’s well ahead of our Australian neighbours who spent four dollars on promotions for every $10. Britons spent three pounds, while our French friends spent just $1.80.
“New Zealanders have been educated to look for bargains and specials,” retail strategist Chris Wilkinson told RadioLIVE Drive.
But are those cut price bananas or the two for one deal actually “special” at all, or are shoppers being duped into thinking they are getting a bargain?
Mr Wilkinson says New Zealand’s problem is there is not a lot of grocery competition, compared to other countries.
“You’re only comparison really is the store up the street, as long as that’s owned by a separate operator,” he said.
Essentially, there are only two major supermarket operators in New Zealand, Foodstuffs and Progressive – a duopoly.
“New Zealand is a small market – a lot of retailers are serving a very, very small market. The only way many of the retailers have had potential to get some differentiation is the fact they’ve used specials and deals to try and get that edge of their competitors,” Mr Wilkinson said.
Listen to the full interview with Chris Wilkinson above.