_Top reasons coupons are here to stay
_A recently released article headlined "The Coupon Comeback" gives interesting information about who likes to use coupon codes and why. Some good things to know out of this report include:
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It all began with the “Great Recession” of '09, which changed the way in which most people feel about shopping and money and, in a way, ushered in a new trend for the promo coupon.
In the past few years, reports show that coupon redemptions have shot up by 27% as smart shoppers search for ways to lower costs and get more bang for their money. Actually, 2009 saw “the second highest year-over-year growth" ever experienced.
Coupon users - the most committed users - make up 65% of coupon related purchases. This drove a huge 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 per year).
While some might think that coupon clippers are just interested in a great deal, these bits of information show true benefits to businesses deploying coupons in their marketing mix.
With the great value offered by coupons, one would also think that the lowest income households can be among the heaviest users. False! Actually, more rich households dominate coupon use: 38% of “super heavy” users and 41% of “enthusiasts” come from households with incomes greater than $70,000. Households with earnings of $100,000 and much more were the largest drivers of coupon increase in 2009. The enthusiast category also attracted a large number of households with incomes between $52,000 and $72,000.
When the economy gets stronger, will shoppers continue this coupon binge? With the economic recovery creeping along and with so little employment growth, it seems like a pretty safe bet to anticipate coupon use to carry on to go up. As long as shoppers feel unsure regarding their 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
2 for 1
2 for 1
It all began with the “Great Recession” of '09, which changed the way in which most people feel about shopping and money and, in a way, ushered in a new trend for the promo coupon.
In the past few years, reports show that coupon redemptions have shot up by 27% as smart shoppers search for ways to lower costs and get more bang for their money. Actually, 2009 saw “the second highest year-over-year growth" ever experienced.
Coupon users - the most committed users - make up 65% of coupon related purchases. This drove a huge 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 per year).
While some might think that coupon clippers are just interested in a great deal, these bits of information show true benefits to businesses deploying coupons in their marketing mix.
With the great value offered by coupons, one would also think that the lowest income households can be among the heaviest users. False! Actually, more rich households dominate coupon use: 38% of “super heavy” users and 41% of “enthusiasts” come from households with incomes greater than $70,000. Households with earnings of $100,000 and much more were the largest drivers of coupon increase in 2009. The enthusiast category also attracted a large number of households with incomes between $52,000 and $72,000.
When the economy gets stronger, will shoppers continue this coupon binge? With the economic recovery creeping along and with so little employment growth, it seems like a pretty safe bet to anticipate coupon use to carry on to go up. As long as shoppers feel unsure regarding their 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
2 for 1