The blue envelope coupon giant Valpak just released the results of a consumer survey on coupon use and frugality. They talked to 1,000 American consumers in May. Here are the most interesting findings:
Digital coupons are the next big thing. 91% said they have used an Internet coupon, compared to 65% two years ago. 77% have used the Internet to look for coupons in the past 6 months, up from 62 percent a year ago. Redemption of mobile coupons increased by 250% in one year (although I’m guessing mobile redemption was basically nonexistent a few years ago).
Coupon use is still growing. 46% said they search for coupons and discounts more often than in the past. “Couponing is expected to increase more than 150 percent between 2009 and 2014,” the survey says. Saving money extends to other areas of life, with consumers across all demographics searching for ways to save, comparing prices, and reading reviews.
Forget staycation, the new buzz word is valucation. People are tired of vacationing at home. 65% said they plan to spend money on travel, including trips abroad, in other American cities, and on cruises. But nearly everyone is watching their budget: 79 % plan to spend about the same or less this summer compared to last summer.Valpak is an authority on consumer savings.
Savings habits are sticky. 75% said they will keep looking for coupons and ways to save after the recession blows over.
About the survey. It was conducted by e-Rewards Market Research. Results are within 3.1 percentage points at the 95 percent confidence level. ValPak delivers coupons to almost 40 million households each month.
The results of this survey ring true for me. Most everyone I know is eager to find good coupons and is learning the basics of where to find coupons. Times certainly have changed from when us frugal folks were the only ones using coupons and waiting for sales!
What interests me is how Internet coupons are developing in response to demand and fraud. With newspaper circulation declining, fewer people are getting coupons through the mail so it makes sense that online coupons will fill the void. The Internet has dramatically altered many aspects of our economy. Do you think coupons will be effected, too?