Some interesting facts came out this week from factbrowser around couponing. Personally, I’m not a huge coupon’er myself. I do use coupons whenever I want to purchase something specific or I’m going out to eat, but I am not a religious coupon zealot who searches for coupons before all my purchases.
That being said, I’m a firm believer that coupons are an amazing way to save money and I know I’m leaving money on the table sometimes by not being a coupon zealot. If you are not using them, you are probably losing over a grand a year on discounts – easy!
I also believe that smart business owners will always use them to increase their customer volumes in hopes to achieve other product sales in their stores.
If you didn’t know, this is the whole reason coupons exist…. They are a marketing tactic used to draw customers to a place of business in hopes the customer will purchase other products as well. A store that doesn’t offer coupons or “sales deals” is usually a store that is dying out and will slowly lose business to the store that promotes some form of savings in their products.
How do I know this, you ask? Well, I believe the facts support it… Let’s look at a few discoveries this month on couponing from Factbrowser.
This statistic is very interesting to me, because it tells me something very important in business. The statistic of 35 – 44 year olds is not surprising, because one would expect this age range to care about price when shopping. (I know I do) They usually have a job and a family and are watching their budget in some respects.
It is the younger age group that I find surprising. This statistic tells me that even younger people are very concerned about price when shopping and can be turned on to coupons. Their statistics compared to the older age group is very close… only about 7% apart.
Why is this important? It shows me that businesses that are focused on price for marketing purposes are going to see a return in the future from not only the older population, but the younger population as well. Something every business should be aware of and actively marketing for.
Discovery 2: 25 Million Americans use Coupon Apps each Month
This is the fact that tells me coupons are here to stay. This statistic means that nearly 10% of the population is using coupon apps on their phones and tablet devices. Very simply, that is huge.
This means that clearly the ‘coupon’ lifestyle is transferring from the older generation to the younger generation and will continue to grow in the future. This is also probably the reason that the statistics in ‘Discovery 1’ are so close from the younger generation to the older generation.
The interesting part is that it will grow via a new avenue other than in the paper or even online avenue. It will grow on our iPhones and Android devices. Those looking to start a business in delivering coupons, may want to look into creating a smartphone app for delivering their coupons. As it appears, this is the wave of the future in regards to their use.
This statistic is one to watch for the future. Clearly as I’ve said before, young smartphone owners are using coupons on their devices. I’m willing to bet this percentage will continue to climb every year as more and more individuals acquire a smartphone device, while those that have one already, learn how to use it more effectively.
The interesting statistic to watch will be the tablet percentage. As of right now, I expect it to be low, as most people don’t carry their tablets in their pockets and into every store and restaurant. To use a coupon on a tablet, one would have to print it out first and then bring in the paper copy.
But the smartphone statistic is clear to me. Coupons delivered on smartphones are here to stay and it won’t be long until every store, restaurant, and place of business is accepting a ‘screenshot’ of their coupon right on your smartphone’s display.
Ask the Readers:
As a technology guru (well, wannabe guru) and a personal finance blogger, I find these statistics extremely interesting. I personally have used a number of coupons on my iPhone in the past and have had little resistance when trying to execute them.
Yes, when I whip out my phone during the payment process and ask the cashier if they will accept my coupon, I rarely get a decline. Now… I have received confusion and the ‘deer in the headlights’ look in the past – but I’ve only once been denied my iPhone coupon for a discount. So as for me, it works great!
Readers, what has your experience been? Do you use coupons on your phone? Do you see this trend increasing over the next 5-10 years?
Jason is the founder of frugal habits - a personal finance blog about eliminating debt, saving your hard earned cash, and giving generously. When not enjoying time with his beautiful wife and two daughters - Jason enjoys the great outdoors, reading a great book, traveling the globe, triathlons, and a good cup of coffee.
{ 11 comments… read them below or add one }
I have never used coupons on my phone, but I can only see the trend increasing. Let’s face it, no one like carrying around a heap of little pieces of paper. Having coupons on your phone is far more convenient.
Glen @ Monster Piggy Bank recently posted..How Much Does it Cost to Have a Baby?
I have never done phone coupons before but I had loaded them onto my shoppers card at Kroger!
Holly@ClubThrifty recently posted..My Dog Pablo: The Freeloading Genius
I haven’t used coupons on my phone but I do search for them when I go to the store. I just haven’t found one at the right time yet!
Michelle recently posted..I’ll Never Be a Frugal Blogger
Of course they are here to stay. I remember my grandma clipping coupons 30 years ago, and I’m sure I’ll be doing it in some fashion 30 years from now. As long as their are customers willing to use coupons and companies who feel they can gain a competitive advantage by offering them, they’ll be around for sure.
Money Beagle recently posted..Was The Payroll Tax Holiday A Good Idea?
The only thing I have used on my phone in this arena is if I have a Groupon, though I do see the appeal. It would surprise me to see more and more coupons be used via phone over the next 5-10 years.
John S @ Frugal Rules recently posted..Frugal Friday: Blog Posts That Ruled This Week, How Can it Be February Edition?
Being in this market, this was a really interesting post.
Our coupon app for the iPhone has been well received by at least 90% of retailers who have no problem with scanning the coupon bar code directly off the phone. The only time our app has been refused is when a store has their own app that displays coupons that they want shoppers to use exclusively. But who the heck wants to have a bunch of different store apps on their phone when ours lists coupons to hundreds of retailers. I think stores are starting to realize this finally.
Kyle @ Rather-Be-Shopping.com recently posted..5 Frugal Tips for Better Home Security
A local superstore in my area has coupons that you can click via your phone/computer. It’s super easy to use your phone because you can load coupons as you shop. You never accidentally forget the coupon at home, and you don’t have to carry them around with you. It’s definitely a whole lot more convenient. Plus online coupons are just cheaper to produce. There is no need for hard copies of the coupons.
Justin@TheFrugalPath recently posted..Refi or Mortgage Free Retirement: It’s Your Choice
Great post! Now that coupons are built in to phone apps….they are here to stay. They have my attention, and I never was into it! Have a great weekend!
Tony@YouOnlyDoThisOnce recently posted..Guest Post: What Do You Want to Accomplish With Your Life?
That’s some pretty interesting statistics Jason. I”ve never even considered getting coupons off of my smartphone. Is their any apps that you could recommend here or advice on where to get started?
Chris @ Stumble Forward recently posted..Weekly Mentions – It’s Groundhog Day!
Coupons are great money savers. The very advantage of money saving coupons is that they can cut your bill to almost 50%. Indeed, using money saving coupons can definitely save you more money than what you have expected. So, for those who do not know this yet Psychology Articles, try to cut more coupons and start saving.
deals Metro Manila recently posted..1-hour Thai Body Massage from The Foot Spa for P199 (valued at P380)
Off course, coupons are here to stay. I know every smart shopper looks for coupons in order to save money. Coupons and online shopper deals are best money saving ways and almost every merchant offers weekly deals and coupons for its valuable shoppers. Why not take this opportunity to reduce everyday shopping expenditure. Some of the good coupon sites that you can use to find coupons and deals are couponpark.com, retailmenot.com and savings.com. So start your savings now.
http://www.couponpark.com/blog/
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