As consumers continue to emphasize value when they are shopping, many are turning to coupons to help reduce the price of items they want. Marketers should know that it’s not just modest or middle-income consumers who use coupons. Nearly 2 out of 3 consumers with household incomes of $100,000+ also look for coupons according to a Coupon.com study. And another study by The Integer Group and M/A/R/C Research indicates that coupon clipping behavior differs by gender.
Consumers primarily turn to the following sources for coupons:
- Newspapers: 62%
- Direct mail/circulars: 58%
- In-store or on-shelf: 33%
- On-pack: 32%
- Coupon Web sites: 31%
While marketers have long assumed that women are the chief users of coupons, the statistics show that men can be targeted through this channel as well:
- Men who have used a coupon in the past 6 months: 51%
- Men who have a designated place to store coupons until they use them: 36%
- Men who tell their friends about coupons they found online: 18%
The survey also found that men seek coupons while they are researching products and that the coupon can serve as a driver to CRM marketing programs, like frequent-buyer clubs and memberships. On the other hand, women are more likely to search for coupons to lower the price of products they purchase frequently.
Either way, Steven Boal, CEO of Coupons.com, says that the ‘sophisticated couponer’ today is often a well-educated higher-income individual. And as a result of the continued financial strain in the U.S., Boal believes, “[f]rugal is the new black and couponing is here to stay.”
Marketers seeking to prod consumers to purchase a new product should keep in mind easy-to-use and easy-to-understand coupon programs work best. Establishing a coupon program with the proper parameters can bring an increase in short-term sales and long-term market share.[Sources: Well-Off and Well-Coiffed Adults Use Coupons More, New Research Shows. Coupons.com. 25 May 2010. Web. 1 Jun. 2010; Women Clip Most Coupons. Integer. Marketingcharts.com. May 2010. Web. 1 Jun 2010]