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.
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?