Tags: millennials | coupons | clipping | savings

Bloomberg: Penny-Pinching Millennials Keep Couponing Alive

Bloomberg: Penny-Pinching Millennials Keep Couponing Alive
(Damian Dovarganes/AP)

By    |   Friday, 17 June 2016 12:04 PM

Today’s young consumers, often laden with piles of student debt, have become perhaps the most ardent coupon clippers, Bloomberg News reported.

Nearly nine in 10 millennials use coupons, according to a report by Valassis, the company behind the RedPlum coupon circular.

Heather Schisler has replaced all that paper with multiple apps and websites for digital rebates, Bloomberg reported. “I don’t get three or four copies of the newspaper anymore,” she says before rattling off a list of her favorite apps. You can read all about it on Schisler’s discount shopping blog, Passion for Savings.

Eighty percent of her readers are women between the ages of 25 and 45, many of them millennials.

“For the rising generation of deal hunters, coupons are an almost ubiquitous part of life online. Asked to describe their couponing habits, millennials told Bloomberg about checking for discount codes on such websites as RetailMeNot, using web-browser extensions such as Honey to highlight bargains, and seeking out cash-back programs like Ebates,” Bloomberg reported.

“Flash sales proffered by Groupon Inc. and Gilt City, pharmacy loyalty cards that trigger discounts at the register—all these approaches are seen by young shoppers as basically indistinguishable from the coupons of old.”

As digital media and mobile use increase – particularly among millennials – it is not at the expense of traditional media, namely print.

“Ninety percent of all consumers across a variety of demographics use print and digital coupons,” said Curtis Tingle, Valassis Chief Marketing Officer. “What may be a surprise is that 83 percent of the influential millennial generation used the same or more print coupons last year in addition to their increased digital coupon use. The key for astute marketers is to develop integrated print and digital coupon strategies to optimize consumer activation.”

Print coupons are essential

According to the 2K16 Coupon Intelligence Report:
  • 87 percent of all consumers use print coupons they receive in the mail;
  • 82 percent of all consumers use coupons delivered via the newspaper coupon book; and
  • Millennial use of mail and newspaper coupons increased more than other generations in the last year.

Affluent shoppers use coupons

Coupon use is not limited by income level, as even affluent shoppers ($100K+ household income) seek value when making purchases.

The report found:
  • 90 percent of affluent shoppers use coupons; and
  • 76 percent of affluent shoppers only buy a product if they have a coupon compared to 72 percent of all consumers.

Smart, brand loyal shoppers use coupons

Coupons are a significant influence on brand loyal shoppers’ purchase decisions, impacting how they plan, where they shop and which brands they buy:
  • 91 percent of brand loyal shoppers use coupons; and
  • 78 percent are influenced to buy a brand they wouldn’t typically buy due to a coupon.

Coupons offer more than just a discount

Coupons do more than just provide an incentive, they impact the consumer’s entire buying decision process:
  • 86 percent of all consumers use coupons to plan their shopping lists; and
  • 77 percent of all consumers select their stores based on where they can use paper coupons.

© 2020 Newsmax Finance. All rights reserved.

1Like our page
A new generation of deal hunters goes digital—and still keeps clipping.
millennials, coupons, clipping, savings
Friday, 17 June 2016 12:04 PM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved