Savvy Shoppers Provide Reality Check
Curtis Tingle, Chief Marketing Officer, Valassis
Savvy shoppers are relying on a mix of print and digital coupon options. In fact, 90 percent of consumers report that they still use coupons and there are no significant differences in coupon use across generations or income levels.
As you might expect, consumers are becoming increasingly adept in integrating the use of smartphones and other digital technology with their shopping and purchasing decisions. Shoppers want to spend their money wisely and the availability of paperless discounts makes this easier. The use of digital coupons has increased among all age segments with millennials leading the way.
However, before we jump to conclusions on consumer coupon usage and buying behavior, let’s briefly consider the facts about shoppers and their use of coupons.
Print coupons are essential
Print coupons remain highly relevant today and the majority of consumers use print coupons for a variety of reasons. Eighty-seven percent of consumers report that they use coupons they receive in the mail and, perhaps surprisingly, millennials use traditional print coupons at very similar rates as other age groups.
Affluent shoppers save with coupons
Affluent shoppers with household incomes of $100K+ are also interested in being smart about their spending and are just as likely to use coupons as other consumers. These shoppers feel that by saving money with coupons, they are doing something good for their budgets.
Smart, brand loyal shoppers use coupons
Brand loyal consumers are savvy shoppers too, and increasingly incorporate coupon and discount searching and planning into their purchasing process, with 91 percent of brand loyal shoppers using coupons. The reality is companies still need to incentivize loyal customers with special offers or risk losing them to other brands or retailers.
Coupons offer more than just a discount
It almost goes without saying that the most desired outcome for CMOs is to drive full-price sales. To this end coupons can sometimes get a bad rap for being only about discounting. What can’t be forgotten is coupons not only provide an incentive to purchase, but they influence earlier on in the consumer’s buying decision process. As consumers increasingly use tools such as their smartphones to develop and plan their purchases, the majority of shoppers use coupons to plan shopping trips and make decisions about where to shop.
Savvy shoppers seek print and digital deals
Today’s savvy shoppers understand that the best deals come from a variety of print and digital sources. Across all segments these shoppers continue to look for value – no matter the source – and are quick to integrate both print and digital coupons into their shopping plans and purchases.
Astute marketers understand that an integrated print and digital coupon strategy is needed to activate consumers, increase their share of wallet for these savvy shoppers and achieve their sales goals.
About these insights
These insights are from the 2K16 Valassis® Coupon Intelligence Report. The report examines coupon and shopping behavior across generations to provide detailed insight into digital and print coupon usage. Download the report at: http://www.valassis.com/2016-coupon-intelligence-report.aspx .