Marketers often roll out coupons when they want to introduce a new product or increase sales of an existing product. But what should they really expect from today’s consumer? A new study from CouponCabin reveals the mindset of coupon-savvy consumers.
Coupon use continues to be high among consumers. Well over 90% of consumers have ever used a coupon with about 46% claiming they frequently use them. Not surprisingly, women (52%) have a higher rate of coupon use than men (39%), perhaps because they do more of the regular shopping.
While marketers might be achieving their goal by targeting casual couponers with discounts, there’s another level of consumer they should be watching out for. CouponCabin calls these consumers opportunists. About 1/3 of shoppers fall into this category. These consumers care about saving money and will only purchase a product when they can get a discount because of a coupon or daily deal. The gender profile for this crowd skews male with 35% of men claiming to shop for deep discounts. Only 25% of women do so. Consumers interested in deep discounts also turn to stacking – the practice of combining manufacturer and store coupons on one item. At least 44% of consumers occasionally do this.
For now, paper coupons remain prevalent with 55% of consumers using them. Only 11% of shoppers use digital coupons and these are often younger consumers. There’s a new format in coupons now and it’s catching on: mobile. Up to 30% of men between the ages of 18–34 are using smartphone apps to access coupons. For younger women, the rate is 22%. And , for now, shoppers over age 55 have been slower to adopt this practice with only 10% having a smartphone coupon app.
The CouponCabin study shows that redemption trends are shifting. In addition, merchants should understand that in any coupon promotion at least 1/3 of the target audience will likely not be converted to a brand because they are purely price driven. However, the remaining 2/3’s of consumers make good candidates for promotions aimed at changing purchasing behavior on a permanent basis.[Source: Coupon Users become Opportunists. Couponcabin.com. 30 Aug. 2012. Web. 12 Sept. 2012]