Coupon Industry Analysis Shows How Consumer Use Coupons
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Coupon Industry Analysis Shows How Consumer Use Coupons

Posted on Tuesday, August 8th, 2017 at 7:00 am
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stackingcouponsInmar Inc. applies technology and data science to improve outcomes for consumers and those who serve them. An analysis by Inmar shows how consumers use coupons. It also revealed what consumers who use coupons are expecting from grocery retailers.

Consumers redeemed more than 1 billion coupons between January and July of 2017.

Shoppers want coupon offers that are easy to acquire and that can be used wherever they shop. In other words, they want coupons that can be used either in the store or on the store’s website. Or, it could mean they want coupons that are “universal” and not restricted to any particular store (such as how manufacturers’ coupons work.)

Shoppers like to drift between retail channels for their grocery-item purchases. In other words, people are regularly shopping at more than one grocery store (and switching off between a few different stores.) This includes brick-and-mortar stores and websites.

At the same time, shoppers are demanding more digital coupons than they have been receiving. In response, grocery retailers have increased the amount of digital coupons that they offer. Inmar suggests that retailers make an effort to ensure that relevant offers get to their target audiences through the channels that the shoppers prefer.

A total of 72% of the coupons used in 2016 affected purchase behavior. For the most part, this means that shoppers that had a coupon for a specific product not only purchased the promoted product sooner, but also bought more of that product.

The analysis showed that 69% of shoppers are making shopping lists before they visit a store. In other words, they are going into the store with clear intentions about what they are going to buy. Among the shoppers who created lists before they shopped, 41% of them used coupons.

Coupons that are found in Sunday newspapers accounted for 89.8% of all coupons distributed between January and July of 2017, and 34.2% of all coupons redeemed.

Coupons are particularly effective incentives for getting shoppers to try new products. Research for the Shopper Promotion Impact Report found that 65% of shoppers say they would try a new product if they had a coupon, while 58% say they would switch from their normal brand if they had a coupon that makes another brand cheaper.

Free-Stand Inserts (FSIs) dominated both distribution of coupons and redemption of coupons between January of 2017 and July of 2017.

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Good Tip: Saving money is important – especially if you have a lot of expenses like bills to pay, loans to pay off, and all the other things that drain your bank account. Figuring out a way to save money can feel tedious to some, and like a punishment to others. U.S. News suggests that you try one of these money saving challenges. The “No Eating Out for a Month” Challenge This one is self-explanatory. The goal is to avoid eating out for an entire month. This might be super easy for people who enjoy making meals at home. People who really enjoy dining out, or ordering food to be sent to their home, may struggle with this one. It’s worth a try because spending money on take-out is more expensive than buying groceries. The Pantry Challenge This one is a variation of the “No Eating Out for a Month” challenge. The goal is to use up all of your groceries before you buy more. It forces you to try and remember why you bought a food or beverage that you don’t know what to do with, and gives you the opportunity to find a way to use it. The one exemption to this challenge is the foods that have expired. Don’t eat them! Throw them in the trash. The “No Spend” Challenge Make a goal to avoid spending money during an entire weekend. The only exemption in this challenge is that you are allowed to pay bills. This challenge is interesting because it requires creativity. You must be creative and find workarounds for problems that you would typically solve by spending money. You may have a different outlook on spending after finishing this challenge.