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Extreme Couponing: Insights for Food & Beverage Brands | WMI

Posted by Ann D'Adamo on Sep 16, 2016 8:30:00 AM

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Coupon use is on the rise! A recent survey found that a third of Americans are using coupons or coupon codes more frequently than they have in the past. The number of adult mobile coupon users in the US rose nearly 18% to 92.6 million in 2015. By the end of 2016, analysts predict mobile coupon users will increase 11% to 104 million. But just because mobile coupon use is growing doesn’t mean that print coupons are obsolete. Another survey found that 58% of consumers reported using more print coupons over the past year. Nearly half the respondents indicated they used six or more coupons per shopping trip with 27% using 10 or more coupons per trip. And they’re saving money: 42% saved $30 or more each week and nearly a quarter saved more than $50 weekly!

How Coupons Effect Grocery Marketing

65% of consumers redeemed a mobile coupon within five minutes of seeing it and 58% say they visited a store, restaurant, or other business after receiving an offer on their mobile device when they were near the business location. This emphasizes the importance of delivering an offer to the consumer in the right place at the right time. And the benefit doesn’t stop once the coupon has been downloaded—according to the report, 39% of consumers spend more if they receive a personalized mobile coupon and basket size increases 26% when a mobile coupon is used.

Coupon Performance by Category

Findings from the study found that beverage offers perform best: coupons for energy drinks had a 43% redemption rate, followed by soda (17%), juice (15%), and coffee (12%). Food, candy, and snacks followed with redemption rates at 11%, 5%, and 2%, respectively. And, if they don’t already have a coupon for your brand, you may be able to influence them in-store via mobile. Researchers found that 72% of consumers say they’ve looked for coupons or offers while in-store via their mobile device.

Who Are The Extreme Couponers?

Many more people than you might think! 55% of all respondents reported spending up to two hours a week looking for discounts, but three groups of savvy shoppers, Hispanics (69%), Moms (63%), and Millennials (61%), were among the most dedicated to finding deals. Almost half of all respondents said they planned their shopping around circulars, coupons, and deals and 14% look for coupons on social media. How can brands reach her? When asked what they would do to receive 40% or more in savings, 70% said they would sign up for email newsletters, 54% would follow a brand on social media, 45% will complete an online form, and 23% said they’d do “pretty much anything” to save money at checkout.

The majority of today’s consumers describe themselves as “promotion sensitive” and “price conscious” shoppers and say they feel rewarded and smart when they use coupons to save at the market. Keep your brand top-of-mind with a digital strategy that reaches consumers when and where they are throughout their day. From media strategy and planning to social and influencer programs, Women’s Marketing offers a full suite of marketing services—contact us today to learn more!

Sources: eMarketer Mobile Coupon Users on the Rise September 2016, Valassis 2016 Purse String Survey, Koupon Media

Filed Under: Food & Beverage