Consumers Prioritize Savings in Age of Convenience

BY Courtney Huckabay
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In its 2017 RedPlum Purse String Survey, Valassis finds that shoppers not only want convenience in an age of home delivery and online shopping, but they prioritize saving – making time to uncover the best deals both online and offline.

Overall, 53 percent of respondents indicated they invest over two hours a week looking for deals and savings from all sources. About 25 percent of millennials and moms spend over four hours a week in their search for value.

The new AudienceSCAN survey showed 27.3% of U.S. adults have used smartphones, tablets or other mobile devices to redeem or download a coupon in the past six months.

Consumers are looking to save and 41 percent of respondents said they use an equal mix of print and digital coupons to do so – a 6 percentage point increase from last year. More than half (52 percent) print out digital coupons for use in stores. Beyond using digital offers to redeem in-​store, shoppers do the opposite as well. According to the survey, 71 percent say they would use a featured coupon code from a print advertisement to buy online – increasing to 78 percent for millennials and 79 percent for affluent shoppers ($100K+ household income).

During the past 30 days, 74% of Digital Coupon Users have used the internet via browser, tablet, smartphone or other connected device to find coupons or discount codes, according to new AudienceSCAN data.

Consumers are embracing a multitude of channels to browse, research, compare prices and make purchases,” said Curtis Tingle, Chief Marketing Officer, Valassis. “This is keeping marketers of both small and large businesses on their toes, as they work to disrupt consumers’ non-​linear shopping journeys. Our recent research indicates that shoppers don’t necessarily delineate between the physical and digital shopping worlds; they want to be able to redeem print and digital deals both in-​store and online. As we near the holiday shopping season, brands should keep these insights in mind. Last year’s Cyber Monday saw a 33 percent increase in omnichannel offers, according to RetailMeNot – and we can expect this trend to continue, providing shoppers what they want: savings and convenience.”

Shoppers are looking to save money on groceries through digital means too. The new AudienceSCAN survey found 31% of Digital Coupon Users have uploaded a grocery or shopping receipt for cash back on a mobile app (like Checkout 51 or SavingStar) during the past six months.

Mobile also plays a key role in how consumers save. More than three quarters of respondents and 93 percent of millennials use mobile while in a store to look for coupons and discounts. Additionally, more than half of millennials say they have used their mobile device to compare deals online and in-​store. Showcasing the power of mobile and geolocation data, 57 percent of consumers surveyed said they have visited a business after receiving an offer on their mobile device when they were near that location.

Retailers can use this behavior to their advantage. The new AudienceSCAN survey results revealed 36% of Digital Coupon Users took action after seeing mobile smartphone app ads or text message ads in the past month!

The research continues to support that consumers’ multi-​channel savings habits are growing, revealing that compared to last year, they are doing more of the following:

  • Ordering more items online for home delivery (31 percent) and for pick up in store (15 percent)
  • Using more print coupons (57 percent)
  • Using more mobile coupons and apps (42 percent; 55 percent for affluent shoppers and 52 percent for millennials)