Coupons growing at a fair clip
There is no doubt about it coupons are going through some sort of renaissance at the moment.
By Glynn Davis
In recent years the money-off variety has appealed only to the most cost-conscious consumers but today the coupon is enjoying a bumper period with more consumers clipping them out of publications.
With many businesses desperate for custom and consumers looking for bargains a multitude of money-off coupons are being issued by a vast array of operators and an army of consumers are redeeming them like crazy.
Some recent stats in the US (from ICOM) found that 43 per cent of shoppers indicated that they had used more coupons in the last six months than previously. This supports the previous ICOM survey in mid-2008 that found 67 per cent of shoppers planed to use more coupons in a recession.
What both surveys also found was that consumers suffered from embarrassment when redeeming their vouchers and coupons in stores. However, in the latter survey 57 per cent of these self-conscious shoppers suggested they no longer cared about being red-faced at the till as long as they were ultimately saving money.
Also fuelling coupon usage, and helping shoppers avoid embarrassment, is the fast-growing trend for online coupons. The ability to pass them on virally is also helping to boost redemption rates of coupons. As long as times are tough then it is hard to see any let-up in the growth of coupon snipping and downloading.
glynnd@theretailbulletin.com
