Americans with college degrees or from households with annual incomes of at least US$100,000 twice as likely to utilize coupons than those without college degrees, households with annual incomes of $35,000 or less: survey
March 2, 2012
– People with college degrees, or from households with an annual income of at least US$100,000 are twice as likely to utilize coupons, respectively, than those without college degrees, or from households with an annual income of $35,000 or less, Yahoo Finance reported March 1.
Research and information services company Inmar Inc. reported that, last year, marketers of consumer packaged goods reduced their distribution of coupons 7.5%. The reduction follows two consecutive years of increased coupon distribution.
According to Coupons.org, last year there was a 63% increase in coupon redemption.
"Shoppers continue to love coupons," said Inmar Promotion Services President Bob Carter, "With consumer confidence flat, unemployment rates still a challenge and prices for most consumables on the rise, it's now cool to be frugal - to shop smartly. And, coupons are the vehicle consumers are using to do just that."
In comparison with pre-recession usage rates, the usage rate for online coupons has increased 360%. In 2011, 20% of smartphone users used coupons provided via their phone. Year-over-year, this more than twice the percentage of smartphone users that used these coupons in 2010.
"Smartphone coupons are becoming more and more prevalent," said Crystal Paine, the founder of the blog MoneySavingMom.com, "I still feel like they have a lot of kinks to be worked out. A lot of the time, there are so many steps. A lot of people are hesitant because of all the steps involved - they would rather just clip a coupon or sign up for an e-mail newsletter."
Paine advises that consumers who want to being using coupons should start slowly.
"Don't go out there and try to save 95 percent off your grocery bill," said Paine, "It's better to shave 1 to 2 percent off your budget every month than to go gung-ho with it and burn out."
The primary source of this article is Reuters, London, England, on March 1, 2012.