Consumers Prioritise Savings in Age of Convenience
Shoppers not only want convenience in an age of home delivery and online shopping, but they prioritise saving – making time to uncover the best deals both online and offline. That’s according to the RedPlum Purse String Survey carried out for Valassis US.
Overall, 53 percent of respondents indicated they spend over two hours a week looking for deals and savings from all sources. About 25 percent of millennials and parents spend over four hours a week in search of deals.
Consumers are clearly 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.
According to the survey, 71 percent say they would use a coupon code from a print advertisement to buy online – increasing to 78 percent for millennials and 79 percent for affluent shoppers ($100K+ household income).
The research indicates that shoppers don’t necessarily differentiate between the physical and digital shopping worlds when it comes to sourcing good deals – they want to be able to redeem print and digital deals both in-store and online.
Digital drives deal hunting
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. Targeted mobile couponing is a powerful tool to reach people at a key purchase point – when they are in or near a store and looking to spend.
Marketers and retailers take note!