By April Masters, Marketing Communications Manager
Published Wednesday, Sep 13, 2017
More than 8,500 value-conscious consumers recently participated in a survey, sharing how they shop and their preferred ways to save while doing so. What did they tell us? Saving on purchases remains important and isn’t by accident, but the result of diligent efforts to enhance their lifestyle and experiences.
Keep reading to learn more about what these discerning shoppers divulged through their responses to the 2017 RedPlum® Purse String Survey.
Paying attention to deals – print and digital
With a majority of survey respondents saying they are the purchase decision-maker for their household (and also describing themselves as promotion sensitive), they aren’t likely to pass up a chance to save – whether via print or digital methods. Adept at using a combination of coupon types to maximize their savings, consumers are incorporating traditional couponing behaviors with their use of digital. As shown in the chart below, more than half of respondents are printing their digital coupons before using them at the store.
Looking for coupons to use for lifestyle needs and wants
Coupons aren’t only coming to mind for grocery purchases or other necessities. Although grocery ranks as the top category for which consumers want discounts, survey findings also revealed that saving on experiences is also important. Dining out (along with beauty products) tied for second place in coupon demand. Additionally, the percentage of respondents showing an interest in coupons for entertainment/activities increased 8 points, from 32 percent in 2016 to 40 percent this year. And their pets are top of mind—coupons and deals related to items and services for the furry ones are on the wish list for 45 percent of those surveyed.
Spending time, saving money
Even with the fast pace and hectic schedules of life today, consumers are still devoting time to search for deals. Similar to last year’s survey, 53 percent of respondents said they are spending more than 2 hours each week looking for coupons, deals and savings from sources including print, online, in-store and mobile.
Sounds pretty impressive, but wait – there’s more. Some shoppers are putting in over 4 hours each week toward deal-seeking activities. Who, you wonder? Thirty percent of Hispanic respondents and approximately one in four within each of the following segments: millennials, moms and African American.
For these skillful savers, engaging in deal-seeking activities is time well spent. Among all respondents, 41 percent said they save over $30 each week using coupons; for 21 percent, their weekly savings is more than $50.
Deciding where (and even how) to shop
Consumers are willing to shop differently for the right deal. Let’s consider grocery needs, for which options to purchase online are increasing. While a relatively small proportion of respondents (8 percent) indicate they are buying more groceries and health and beauty items online for home delivery versus last year, 57 percent say they would be more likely to shop for groceries online if they could use more coupons. A higher percentage of millennial, parents and multicultural survey participants agree.
Seeking savings while shopping
The search for the best deal continues once at the shopping destination, whether a brick-and-mortar location or website—76 percent of respondents have searched for coupons or offers on their mobile device while shopping in a store. They are also using savings found in print promotions as they shop online. In fact, 71 percent have used a coupon code featured in a print ad to purchase something online.
These findings demonstrate that efforts of value-minded consumers to obtain savings through coupons and other deals or discounts aren’t happenstance, but deliberate, purposeful steps along their path to purchase. Perhaps now, more than ever, marketers should be attuned to what motivates today’s dynamic shopper, adjusting their strategies and tactics accordingly.
To learn more about these insights and others from the survey, view our infographic.
About the 2017 RedPlum Purse String Survey: The survey was fielded on redplum.com from May 15 through June 15, 2017. Findings are based on responses from 8,550 consumers. Eighty-two percent of respondents defined themselves as promotion sensitive -- aware of sales, coupons and discounts. This consumer survey has been conducted nine times since 2008 with a focus on consumer shopping and saving behaviors across a variety of product categories.