Snipping Plus Clicking
Not only are shoppers snipping paper coupons, but they are also clicking more on their mobile phones and on the internet to find coupons, compare prices and locate deals. Those using a combination of circulars, print coupons, mobile coupons and online coupons, are saving an average of $50 a week. This is $20 more than the average savings of $30 a week.
Spreading the Word
Shoppers who are social and share deals with friends and family tend to save more. In fact, 82% of those surveyed swap coupons. Generally this is done by word of mouth, sharing printed coupons, through email and through social media.
The Purse String Study also reveals that:
- More consumers are using mobile coupons and apps since last year, up over 100% from 2011
- While all income groups significantly increased their usage of mobile coupons and apps, those in the less than $20,000 income level group tripled their response over last year
- 79% of respondents who are increasingly planning their shopping around circulars save up to $50 weekly
- 79% of respondents using more mobile coupons this year are saving up to $50 a week
- 82% of respondents who are using more online coupons this year are saving up to $50 a week
- 88% of deal seekers are most likely to visit their favorite savings or deal websites at least weekly.
The categories shoppers are most interested in finding coupons, codes and deals has remained consistent with groceries being the number one category, followed by dining out/restaurants and clothing. Items that ranked lower in previous years are starting to rise from the recession, such as travel, a 29% increase over 2011 and services such as dry cleaners and hair salons - a 25% increase over 2011.
According to the Purse String Study, newspapers are still the most popular source for finding coupons, followed by email coupon alerts, retail circulars, Internet searches and mail. Additionally, the percentage of shoppers who most often use mobile phone text messages to get a deal doubled from 2011.
Allocating Savings for Basic Necessities
For the third consecutive year, a majority of shoppers (60%) have said they are using their savings for basic necessities.
Paying down debt, which ranked No. 2 in 2011 and 2010 was significantly lower than the past two years with only 4% allocating their savings toward debt.
Long-term savings (i.e. college/retirement) ranked second in 2012.
Only 3% said they would use the money saved from couponing to splurge, down from 7% in 2011.
To download an infographic based on this study, go to: http://bit.ly/RCCFAU