A few things you don't know about coupon clippers
A recently released article named "The Coupon Comeback" gives in-depth data about who likes to use discount coupons and why. Some highlights out of this report include:
It all began with the “Great Recession” of 2009, which changed the way most people feel about shopping and money and, in a way, ushered in a new era for that coupon.
In the past few months, reports show that coupon redemptions have grown by 27% as smart buyers look for ways to slash costs and acquire more bang for their money. In reality, 2009 saw “the next to the highest year-over-year growth" ever recorded.
Coupon users - the most passionate users - account for 65% of coupon related buys. This drove a massive amount of sales and growth - with coupon users making 1.7 more trips than non-users and shopping more (a rate 1.8 times greater annually).
While some might think that coupon clippers are just interested in a good deal, these bits of information show true benefits to businesses deploying coupons in their marketing mix.
With the amazing value provided by coupons, one would also think the lowest income households can be among the heaviest users. Not true! In fact, more rich households dominate coupon use: 38% of “super heavy” users and 41% of “enthusiasts” come from households with incomes more than $70,000. Households with income of $100,000 and more were the largest drivers of coupon growth in 2009. The enthusiast category also attracted a lot of households with incomes between $52,000 and $72,000.
When the economy gets stronger, will consumers continue this coupon binge? With the economic recovery creeping along and with so little employment growth, it appears a fairly safe bet to anticipate coupon use to continue to go up. As long as shoppers feel unsure regarding their personal finances or lack confident about their employment prospects, they will keep looking for ways to save and get the most for their money. In addition to expanding the appeal of coupons in general, manufacturers and retailers would do well to target coupon users
