One in three smartphone owners use price comparison apps to search for deals, according to a new Tradedoubler survey.

The Swedish-founded company, which creates multi-channel performance marketing programmes for clients on a payment by results basis, has revealed the new figures in its ‘Performance Marketing: Mobile & Shopping on Demand’ study – commissioned by its Insight Unit.

The survey, of 2,500 European smartphone users who shop at least once a month online, found that shoppers are on a new hunt for bargains and value, as 52% of connected consumers have at least one performance marketing app on their mobile.

Among shoppers surveyed, price comparison apps proved most popular (32%), followed by coupon/voucher code (23%), loyalty or reward (22%), daily deal/group buying (20%), and cashback apps (19%).

Bargain Hunting has Gone Mobile

Regional director at Tradedoubler, Dan Cohen, said: “Bargain hunting has gone mobile and if brands aren’t prepared with relevant and timely campaigns targeting shoppers who have at least one performance marketing app on their smartphone when they are ready to buy, they’re going to lose out.”

Cohen said as vouchers can normally be redeemed in-store as well as online, they can be instrumental in helping retailers to encourage customers back into the high street.

Of those using their mobiles in-store, 55% of shoppers surveyed said they had bought a product at a rival retailer after finding a better price via their mobile.

Discount Vouchers and Coupons

The study also found that mobile discount vouchers and coupons are proving to be a powerful tool for bargain-hunters, with 51% actively searching for vouchers on their phones and 44% regularly using the vouchers sent to their mobile.

“Powerful brands are losing dominance on the high street because they’ve placed too much importance on brand loyalty and not enough on the price, value and variety of channels including mobile apps that shoppers now both expect and demand,” Cohen added.

Cohen said the popularity of performance marketing mobile sites and apps is also backed up by its latest sales figures, which show that purchase value on its mobile performance network grew by 187% between the first quarter of 2012 and Q1 2013.