Valassis Bucks Marketing Services Downward Trend
Valassis Ltd seeks high calibre commercial director as latest redemption data shows coupons up 40% and US Parent announces $500M cash injection
20th March 2010 - Valassis Ltd, the UK’s leading coupon and voucher services provider, today reveals an astonishing 40% rise in coupon redemptions in the UK, demonstrating the longevity of the humble coupon. Worldwide, consumers have demonstrated that coupons are a trusted method of saving money, with the US – the largest coupon market – recently reporting a 23% increase in redemptions year-on-year.
This latest data from Valassis, which handles 85% of coupons in the UK for the nation’s major retailers and FMCG brands, compared the volumes of UK coupons redeemed over the December / January period this year versus last year. Valassis recorded a 10.8 million hike in the number of coupons redeemed, totalling 63.5 million redemptions resulting from 722 campaigns which ran over the two month period. 40% more coupons passed through retailers this year, as consumers fought against high street prices and took advantage of the many offers available including money-off coupons and points-based loyalty rewards.
Against the backdrop of a growth in the demand for coupons, Valassis Communications Inc (VCI), the US parent of Valassis Ltd. has announced strong earnings growth for 2009, and received a cash payment of $500 million on 4 February 2010 as part of the settlement agreement with News America Marketing (NAM), a division of News Corporation. The settlement agreement between Valassis and NAM dismissed all outstanding litigation and released all related existing and potential claims against each other. On the back of its UK successes, Valassis Ltd. is looking for a commercial director to leverage its position as one of the most economically stable UK marketing services companies, to lead business development and new solution innovation.
The new director will develop, lead and manage the Commercial team to maximise sales revenue and client profitability through enhanced retention, new business development and best-in-class processes supporting both existing and new services. They will be a key member of the leadership team providing strategic direction and challenge to all key initiatives and plans.
Charles D’Oyly, managing director of Valassis Europe, says, “Throughout the recession and even as the UK economy recovers, our data show that coupons are an extremely popular way of saving money. With new evidence of this, and with marketing budgets still revised down considerably against last year, no marketer can afford to not be looking at couponing and indeed their promotional return on investment.”
D’Oyly continues, “Valassis is the leading coupon and voucher services company in the UK and, leveraging a strong backing from the US and our unique market intelligence, we are in the best position to offer the right solutions and services to the UK’s FMCG manufacturers and retailers. We are already in discussions with partners and customers about new solutions to meet their needs in this rapidly evolving market, and are looking for a commercial director to share our passion for effective couponing and work with us to make the most of our new commercial opportunities.”