Valassis released its annual 2K18 Coupon Intelligence Report. Titled “Modern Shoppers and Their Quest for Savings,” the report examines responses of 1,000 U.S. consumers to determine how modern, dynamic shoppers research and make purchases, with the help of technology, online and in-store for traditional consumer packaged goods categories.
According to survey findings, 94 percent of respondents report using coupons, a substantial increase over the prior year on an already very large base of consumers, with paper and paperless sources both showing growth (up 5 and 4 percentage points respectively).
Marketers can target coupon-loving consumers. Saving money and getting the best price are important to many shoppers. The newest AudienceSCAN study found 28% of American adults are willing to compromise on quality to save money on most products.
The multitude of channels available means there are more options than ever for consumers to plan and save. Over 60 percent say they constantly plan their purchases and 36 percent state they have used a shopping list app – which jumps to 61 percent for both parents and millennials (74 percent for millennial parents). While many shoppers prefer print offers in the mail (48 percent), coupon books in newspapers (42 percent) and paperless discounts downloaded to store loyalty cards (39 percent), one of the biggest growth areas is using mobile offers to save.
Snail mail is effective in reaching Price-Conscious Shoppers, so advertisers can utilize it to reach them with offers. The latest AudienceSCAN survey showed 37% of Price-Conscious Shoppers took action after receiving ads/coupons in their mailboxes, and 19% think mailed fliers are the best medium for for comparing prices.
“This year’s report proves saving is still a top priority for consumers – the recent analysis from NCH Marketing Services found that consumers saved $3.1 billion in 2017 with CPG coupons,” said Curtis Tingle, Chief Marketing Officer, Valassis. “Our latest Coupon Intelligence Report further demonstrates consumers’ willingness to look for value from many sources. To meet these expectations, marketers should keep in mind that today’s modern shopper is dynamic, constantly moving between online and offline channels as they plan, shop and save. Providing options across multiple touch points whether through mobile savings apps like RetailMeNot and Local Flavor, online or print is key to equipping consumers with the deals they want, at the right time and delivered how they prefer.”
Marketers should keep shoppers on the go in mind too. The most recent AudienceSCAN research revealed 30% of Price-Conscious Shoppers redeemed or downloaded a coupon from their mobile devices in the past six months.
The 2K18 Coupon Intelligence Report also uncovers varying behaviors for those who shop mostly online, versus those who shop more in-store – and those who do an equal amount of both. Marketers looking to meet shoppers’ increasing demands for savings should take note of the following:
- In-store shoppers are more promotion sensitive. Although less likely to use a mobile device to save, these consumers are more likely to be aware of sales, coupons and discounts for CPG items. These consumers are not afraid of the experience and are willing to put in the time to save – less than 20 percent of in-store shoppers say they don’t have much time to plan or do their shopping.
- Online shoppers are driven by convenience. Those who consider themselves primarily online shoppers are more likely to be motivated by convenience, and specifically, a need to save time. On occasion, this need will even drive their brick-and-mortar store selection. More than half of online shoppers say they shop retailers such as dollar, drug and convenience stores because they can quickly find what they need. Although convenience is paramount, online shoppers are still big seekers of savings. In fact, when shopping for food and household goods, these consumers’ paper and paperless coupon use is higher than all consumers.
Omnichannel shoppers will go online or in-store to find what’s on their list. Similar to online shoppers, omnichannel shoppers – those who do about half of their shopping online and the other half in- store – are very likely to seek out savings on the internet and their mobile device. They also tend to create lists before shopping. Among those that do so, more than two-thirds say their final purchases are exactly the same or somewhat similar to their intentions.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. Media companies and agencies can access AudienceSCAN data through the AudienceSCAN Reports in AdMall.