A coupon is a ticket or document that can be exchanged for a financial discount or rebate when purchasing a product.
Coupons come in so many forms these days. There is the traditional paper coupons, electronic discount codes, coupons where you refer to the advertisement and we now have coupons that are in the form of mobile text messages. With today’s uncertain economy, it’s no surprise that there has been more people taking advantage of coupons.
Here are a few facts about coupons in the 2009-2010 year as compiled by Coupon Sherpa:
- Over 158 billion coupons were distributed in the last half of 2009.
- Coupons distributed in the first half of 2009 increased 12 percent while the number of coupons redeemed increased 19 percent.
- Marketers have progressively increased coupon distribution by 23 percent over the last five quarters.
- 29 percent of consumers reported spending more on groceries in the past year, while 28 percent reported spending less.
- In early 2009, consumers spent an average of $98.40 per week on groceries.
- Internet coupon usage is growing, but consumers still prefer clipping coupons from the Sunday newspaper compared to printing them online.
- 11 percent of households download coupons from the Internet, an 83-percent increase since 2005.
- The Sunday newspaper is still tops for coupons, where 53 percent of people get their discounts.
- Mail is the second most-popular source for coupons, used by 35 percent of people; followed by in-store coupons at 33 percent; and loyalty cards and in-store circulars tied at 22 percent.
- Less popular coupon spots include weekday newspapers and product packages, both at 17 percent, and magazines at 15 percent.
- To promote faster sales, marketers have shortened coupon expiration periods or the length of time during which a consumer can redeem a coupon.
- 75 percent of coupons users say the coupons had at least some influence on their decision to purchase a new product.
- Consumers make an average of two trips per week to the supermarket or grocery store.
- 81 percent of all products purchased with a coupon in the first six months of 2009 were bought by 19 percent of all households.
- 48 percent of all products purchased with a coupon in the first six months of 2009 were dry grocery products.
- As grocery spending shifts to non-traditional outlets, grocery coupon redemption has followed. One negative effect of this shift is that consumers tend to associate coupons with conventional supermarkets and may not think of using coupons in non-traditional locations.
- Consumers who use fewer coupons spend more per shopping trip.
- Affluent households tend to be heavier coupon users.
- Large households tend to use more coupons.
- 68 percent of U.S. households used a coupon in the first six months of 2009.
As a student, I must admit that I like to take advantage of coupons. I think even when I “grow up” and have a family of my own, I will still continue to use these coupons. I mean, why not? It’s an excuse to try something new and it saves money along the way.