Monday, August 15, 2022

Coupon use rises as shoppers seek best value

Shoppers are increasingly turning to coupons and promotional vouchers during grocery shopping, with 58 per cent of consumers now using the offers, according to findings released today.

According to industry analyst firm IGD‘s latest ShopperVista research, coupon use has grown by 40 per cent in the last four years, with 53 per cent of respondents now using more money-off vouchers than ever before.

Of the 1,000 respondents surveyed by the company in June, 59 per cent said that they plan to increase their use of vouchers over the next six months to make savings on their food shopping.

Joanne Denney-Finch, CEO of IGD, explained the results, commenting: “In these tough times, shoppers say promotions are one of the factors helping them decide where to shop: 71 per cent of them tell us they are an important consideration.

“The stigma once associated with using coupons and vouchers is eroding as shoppers tell us they are using this type of promotion more as they seek to secure the best value.

“Retailers have been actively promoting coupons, which are easy to understand and use and have relatively few restrictions. Vouchers are more targeted now and can help shoppers, who have increased their planning before doing their grocery shopping.”

Younger shoppers and those with children are using vouchers most frequently, with three quarters of 18 to 24-year-olds turning to discounts compared with 45 per cent of over 65‘s.

Of those with children, again 75 per cent are capitalising on promotions while only 51 per cent of those without children do so.

Last month, Associate Director at ICM Research Jamie Belnikoff told Retail Gazette that he expects use of loyalty cards and offers via smartphones to increase in the coming years and Denney-French noted the growing significance of providing promotions via multichannel offerings.

“Shoppers are increasingly turning to technology when trying to save money buying their food and groceries,” Denney-French explained.

“They are using websites on their home computers and even on their mobile phones. 72 per cent of shoppers who own a smartphone or tablet, say they would like tailored promotions sent to their phone.

“Food companies can make the most of the increased interest in coupons. Further promotional innovation, such as proximity marketing, could help improve promotional effectiveness.”


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