Coupons: Online coupons overtaking printed coupons in some categories

11/09/2010

The Brandon Agency gains insight into consumer behavior regarding coupon usage.
 
With the “Why We Buy” study showing that 97% of respondents say they use coupons, marketers need to make certain they maintain a smart couponing program and constantly monitor its effectiveness.  Additionally, depending on the products/services being marketed, “coupon location, location, location” is everything.  Being in the right printed or online mediums is critical. By understanding where consumers are seeking coupons, marketers will be able to intercept them at the point in which they are ready to begin the purchasing process.
 
Notable findings include:
-      Online coupons are rapidly gaining acceptance among consumers.  When asked where people get/find coupons, newspapers (21.5%) were the number one source, followed by online (21%), magazines (20%), coupon packs in the mail (18%), coupon codes at checkout (14%) and mobile phone text/e-mail couponing being the least used source (4%).

-      Printed coupons still play an important role for essentials and routine/habit-based purchases.  Consumers look to printed coupons more often than online for things like grocery (74% print/26% online) and dining/restaurants (54% print/46% online).

-      However, the empowered consumer is seeking out online coupons for discretionary purchases and those items with a lower sense of immediacy. Consumers look to online coupons more often than printed for things like travel (85% online/15% print), clothing (72% online/28% print), sporting gear (70% online/30% print), entertainment (73% online/27% print), electronics (72% online/28% print) and home improvement items (52% online/48% printed).

With the economy showing signs of improvement and coupon usage on the rise, marketers can capitalize by gaining market share and increased sales.  But a well thought-out strategy that takes into consideration where coupons are promoted and the product categories involved will be the key to success.  Be sure to think before you coupon.
 
Tune into our next “Why We Buy” research study in the coming weeks.

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