Everyone loves a good coupon and there is really no need to every pay full price for anything again. Through the power of Google and online forums, it’s never been easier to find instant money saving coupons that can easily save you 50, 60 or even 70% off for just a few seconds of your time. As a business or brand, having coupons for your audience is a must! It’s not only about providing discounts and promotions to get customers to take action, it’s also about understanding your audience’s buying habits as well.
As a shopper, when you think about coupons and how they are used with both offline and online shopping, it’s quite amazing. The first question you might have is why are brands offering discounts and coupons anyway? This is usually done as an initial incentive to get someone to make a purchase. In most cases, someone isn’t going to purchase just one item — once they are brought into a store to save 30% on one item, it’s likely they will buy a lot more and then the initial coupon or voucher won’t affect the company at all.
The customer thinks they are getting a great deal, but it’s all just part of the big marketing plan!
However, this has already greatly changed with massive growth of ecommerce, online shopping and coupons over the past decade. The smart thing to do before buying anything online, is to Google “brand name + coupons”. It’s very likely that you will find some form of discount, even if it’s just free shipping. One of the established voucher sites from the UK, VoucherBin has over 26000 vouchers available through their site, with around 100 new vouchers being added daily. In addition to coupon sites, it’s also recommended you take a look at some of the top coupon forums like FatWallet, where thousands of users actively scour the internet and physical newspapers for the latest coupons, discounts and deals to share with their fellow couponers.
Online coupons have proven to be extremely effective for customers because they can usually buy one or two items and claim a big discount without the need to visit a physical store. On the flip side, online coupons work extremely well for brands and businesses too, as many of these top coupon sites are providing them with promotion for free!
No matter what you are looking for, there are millions of coupons and discount codes flooding the internet today. Now it’s time to look at some of the most interesting facts, trends and statistics in the world of couponing!
7 Interesting Facts and Statistics on Coupon Usage
Including coupons as part of your marketing and customer outreach is extremely important to your business. Here are some industry stats on how many people are using coupons, how often and their preferred methods of receiving/using them.
- 83% of consumers use coupons (TSYS)
-Billions of coupons are issued out every year, yet only a small fraction of them are actually claimed and used. What’s important to know is that 83% of consumers want to use coupons. This means, no matter what you are trying to sell or get exposure on, issue coupons to bring more awareness and sales to your business. This number seems high, but it doesn’t specifically note how often the coupons are being used — so a person using a coupon just once per year would fall into this category just as much as someone who uses a coupon on every visit.
- 85% of consumers look for coupons prior to visiting a retailer (RetailMeNot)
– It’s easy to look for coupons online when making an online purchased, but how many people are actually searching for coupons when they are shopping offline? According to this report, 85% of people take the time to look for coupons before making their purchase. As an advertiser or brand, it doesn’t matter what type of coupon or voucher you are offering, as long as you put something out there.
- 315 billion coupons were issued in the U.S. in 2013, 2.8 billion were redeemed (NCH)
– When you look at the actual number of coupons being issued in the the United States in comparison to the amount of coupons actually being claimed, it’s a huge difference. Less than 1% of coupons are actively being claimed!
- Over half of consumers use a coupon in at least one of every four purchases (RetailMeNot)
– With so many coupons being issued, it would be great to know how often people actually use them. In this report it stats that coupons are being used roughly 25% of the time, which comes out to 1 in every 4 purchases.
- 35.9% of consumers look through printed materials when deal-seeking (RetailMeNot)
– Even though the internet seems to be taking over everything, there is a still a good demand of physical coupons. Over 35% of consumers are still relying on flyers, print outs and newspapers for their money saving coupons.
- Shoppers 18 to 25 years old use paper coupons twice as much as other methods (CreditCards.com)
– While you might think that paper coupons are more for the older audience, it’s actually 18-25 years olds that are using them twice as much as any other method. This will be interesting to watch as mobile continues to change the way we engage with brands and receive coupons and promotions.
- 82% of consumers say digital coupons are a convenient option compared to printed coupons (Vibes)
– Speaking of digital… when it comes to preference, 82% of consumers would rather have their coupons accessible through their mobile devices or through email versus having to carry around paper coupons.
For even more coupon statistics, be sure to check out this massive list from AccessDevelopment.