twoforones' Journal

Top reasons your business should consider using coupons
A recently published report named "The Coupon Comeback" gives in-depth data about who wants to use coupon codes and why. Some highlights from this report include:

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It all started with the “Great Recession” of '09, which changed the way in which many people think about shopping and money and, in a way, ushered in a new trend for that promo coupon.

In the past few years, reports demonstrate that coupon redemptions have shot up by 27% as smart consumers look for methods to lower costs and obtain more bang for their buck. In fact, 2009 saw “the next to the highest year-over-year growth" ever recorded.

Coupon lovers - the most committed users - account for 65% of coupon related buys. This drove a massive amount of growth and sales - with coupon users making 1.7 more trips than non-users and buying more (a rate 1.8 times greater per year).

While some may think that coupon clippers are just interested in a good deal, these bits of information show true good things about businesses deploying coupons in their promotional mix.

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With the amazing value provided by coupons, one could also think that the lowest income households is among the heaviest users. Not true! In reality, 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 earnings of $100,000 and more were the greatest drivers of coupon rise in 2009. The enthusiast category also attracted a lot of households with incomes between $52,000 and $72,000.

When the economy improves, will consumers continue this coupon binge? With the economic recovery creeping along and with so little employment growth, it seems a fairly safe bet to anticipate coupon use to continue to go up. As long as shoppers feel unsure about their personal finances or lack confident about their employment prospects, they are going to 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

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