Britain is increasingly becoming a nation of coupon users as coupons and vouchers redemptions saw a rise of 38 per cent in the first half of 2013 compared to last year, according to UK coupon company Valassis.
In total, 275 million coupons, worth £850 million, were handed over at checkouts in the period from January to June this year. If the current trend continues, the total value of shoppers’ savings in 2013 could rise to £1.7bn.
Charles D’Oyly, managing director of Valassis, which manages coupons redeemed through 85 per cent of grocery retailers, explained: “The public’s determination to reduce household spending by planning their shopping around their coupons is a very powerful factor in this growth. But it’s the competition between the supermarkets and increasing eagerness of brands fighting for a share of consumers’ grocery spending that are mainly driving this increase.
“The supermarkets are issuing more and more coupons and the public are taking advantage of this – 61 million more retailer-issued coupons were redeemed in the first six months of 2013, an increase of 41 per cent versus the same period in 2012. Retailer issued coupons and vouchers now account for 82 per cent of all redemptions in the UK.”
The study excluded some coupons and vouchers from Tesco, as well as volumes redeemed in High Street retailers and restaurants.
Coupons are now a core part of retailer’s promotional strategies and are used extensively in loyalty programmes and price guarantees on individual products and baskets of products.
“Retailers keep turning to coupons as a way to attract and retain customers. They are competing increasingly for individual shopping trips in the face of consumer tendencies to switch shops in order to bag the better bargains,” added D’Oyly.