Millennials use More Coupons than their Parents [REPORT]
March 6, 2014
Valassis announced results of its Shopper Marketing Report with data marketers can tap into to influence a specific shopper with added focus on digital, social and mobile trends; millennials; and Hispanic shoppers.
Findings paint a picture of an increasingly savvy consumer adept at navigating both print and digital promotional media to save money and efficiently move throughout their path to purchase. Overall, nearly eight in 10 consumers consider themselves value seekers, self-described as promotion sensitive or price conscious. According to the Valassis Shopper Marketing Report:
· 71 percent of those who search the Internet for coupons have done so after hearing about it in social media;
An average of 67 percent engage in showrooming, with millennials at a much higher rate;
40 percent say their coupon usage has increased over the past year; and
24 percent report their use of smartphones to get deals has increased.
“Marketers have access to a wealth of data and media choices. These results highlight the need for considering multiple touch points to deliver the right message using the right blend of print, digital and in-store media,” said Lisa Reynolds, Valassis Vice President, Brand Strategy and Campaign Solutions. “With a holistic view of the consumer, marketers can best identify their target audience and optimal ways to reach and activate them along their path to purchase.”
A Growing Trend: Digital, Social and Mobile Use
Shoppers are embracing digital, social and mobile promotional media by increasingly downloading coupons onto their retailer shopping cards, searching for coupons online and combining print and digital offers to maximize their savings. Value-seeking consumers, however, have maintained their preference for finding coupons in traditional media. When asked where they prefer to receive their coupons, newspaper (52 percent) and mail (51 percent) were the top two sources. Notable is the 6 percentage point increase among consumers who prefer to receive their coupons via mobile. Additionally:
· 85 percent of shoppers who use coupons search online and more than one-third say they are doing so more in 2013 compared to 2012; and
· 40 percent have shared or traded coupons on social media – a 10 percentage point jump from 2012.
Savvy Shoppers – Millennials
With millennials accounting for 21 percent of consumer spend, marketers look for ways to make data about their shopping behaviors actionable. This group is more likely than other generations to buy online after checking out products in store; are more likely to combine online and print coupons or manufacturer and store coupons; and require up to one-third higher coupon value to engage. The Valassis Shopper Marketing Report compares millennials’ purchase behavior with generation X and baby boomers. Did you know:
- 92 percent of millennials use coupons to plan shopping lists; and
- 51 percent of millennials say their coupon usage has increased this past year; higher than all consumers and generational breakouts
Digital Driven: The Hispanic Shopper
The Hispanic shopper is one with formidable buying power; Selig Center projections revealed that Hispanics were expected to control $1.2 trillion in spending in 2013 and the Hispanic population con-tinues to grow much more rapidly than the non-Hispanic population. The Valassis Shopper Marketing Report found that there are clear differences among Hispanic shoppers especially in their engagement with digital, mobile and social media. They report their use of online search; smartphones; and frequent shopper/loyalty cards have increased. Hispanic shoppers are also significantly more likely than the general population to combine print and digital offers. Findings include:
· 95 percent of Hispanic Internet users download coupons from retailer websites or mobile apps before shopping; and
70 percent have used a coupon found on social media; a 16 percentage point difference from all consumers.
To download report CLICK HERE.
