Meet the Digital Deal-Seeker:

How They Save on Online Shopping

By Michelle Wood, SVP of Merchant Development, Wildfire Systems

As the appetite for savings continues to grow, the survey results highlight three key tools and tactics that have risen to prominence: browser extensions, digital wallets, and social shopping.

Browser extensions offering cashback rewards and automatic digital coupon finders, such as Rakuten or Capital One Shopping, have evolved into a powerful tool for consumers looking to maximize their savings while shopping online. In Wildfire’s 2024 consumer survey, 27% of respondents reported using cashback browser extensions more in 2024 than the previous year. Meanwhile, 70% of respondents who have ever installed a browser extension report they use it frequently to find cashback rewards or digital coupons.

Browser extensions are also effective in shaping consumer purchasing behavior. The survey revealed that 93% of respondents were more likely to complete a purchase when they find a deal thanks to their extension, while 88% said they choose a specific retailer because of the savings offered through their extension and slightly less (84%) reported that they trust the offers they see in their extension. Moreover, 79% of consumers indicated they would be more likely to install a browser extension if it was offered by their financial institution, signaling the growing assurance in these tools, especially from trusted providers, to provide meaningful savings.

For consumers, browser extensions reduce friction in the savings process and make it easier to shop with confidence. These shopping enhancement tools help ensure that shoppers don’t miss digital coupons or cashback reward offers, helping them to get the best deal every time.

Digital wallets are also becoming a preferred tool for consumers who want to integrate savings into their everyday spending. While many consumers simply use digital wallets to store different payment methods that can easily be applied during an online shopping checkout process, some digital wallets now offer features such as cashback rewards, coupons, and rewards/loyalty program integration. A PYMNTS report from June 2024 indicated that about one third of the shoppers who purchased products online using a digital wallet in the previous 24 hours cited rewards as an important reason that they used a wallet for that purchase. And in our survey, 33% of respondents expressed interest in using digital wallets that include rewards and discount capabilities.

An early iteration of earning rewards through a digital wallet simply added a rewards-earning credit card that transactions are tied to. But the next evolution in digital wallets with rewards functionality will enable the wallet itself to trigger rewards-earning opportunities or alert the user to available coupons as they shop online. This seamless integration of savings into the payment process allows consumers to check out more efficiently, and effortlessly save money on every transaction –even better, to keep a ledger of the shopping rewards transactions tied to the wallet-holder’s purchases.

Social shopping platforms have emerged as a powerful tool for the digital deal-seekers, especially for millennials and Gen Z consumers, by harnessing the power of online communities and integrating purchasing directly into social media apps. These consumers are increasingly turning to platforms like TikTok, Instagram, and Facebook, which now offer the ability to buy directly from ads within their apps. Brands and influencers are capitalizing on these embedded social shopping tools to announce limited-time sales or endorse products, allowing their followers to take advantage of deals while they scroll through their feeds. In fact, a report from PYMNTS noted that 28% of consumers reported they made purchases through social media because they’re able to buy products as soon as it caught their attention.

While overall adoption of social media-embedded shopping tools is still growing—with 14% of respondents in the Wildfire survey reporting increased use this year—the trend is particularly strong among younger consumers. The survey found that Gen Z and Millennials are using social shopping at rates nearly double the general population: 27% of Gen Z and 23% of millennials.

What makes social shopping particularly effective is the trust factor. Consumers are more likely to try a product or shop at a specific store if someone they trust recommends it. Social shopping platforms have capitalized on this, encouraging users to share deals they find. The #tiktokmademebuyit hashtag is a good example of social sharing– it has generated billions of views so far. These hashtagged posts often include exclusive discounts or offers not available elsewhere. In this way, social shopping becomes a collaborative process, with consumers helping one another find the best prices.

Consumers are more resourceful than ever, utilizing a range of digital tools to make their money go further. Browser extensions, digital wallets, and social shopping platforms are leading the way, making it easier for shoppers to save money without disrupting their regular shopping habits. As these technologies continue to evolve, they'll reshape the landscape of online shopping by making savings more accessible, more automatic, and more socially driven.