September is National Coupon Month which is perfect timing to release the results of the annual RedPlum Purse String Study. The study is conducted each year to gain insight from shoppers regarding where they are looking for deals, how far they will go to get those deals, what they are doing with their savings and what is prompting them to be so frugal. The results of the study are interesting, although I am not at all surprised at the increase in many of the couponing activities profiled.
I had the opportunity to speak with Lisa Reynolds, Valassis Vice President of Consumer Engagement (parent company of RedPlum) earlier this week. She indicated that the study shows that “consumers have remained skeptical about the economy but they are getting more skilled about saving with both time and money.” She pointed out that there was an 18% increase this year vs. last year in those spending less than one hour looking for coupons, deals and savings from all sources, yet the average savings dollars remained consistent.
The study also shows that 62% of respondents spend up to 2 hours per week searching for savings and that they save up to $30 per week using coupons. Now most of us save more than that each week couponing, but it is significant that that so many are spending up to 2 hours a week finding ways to increase their savings.
Use of social media and mobile apps has increased in the last year with use of mobile coupons and apps up over 100% from 2011! Regarding social media, 67% would “Like” a page on Facebook and 17% would Tweet or Retweet a deal, up 5% from 2011. Lisa suggested that you seek out your favorite brands on Facebook and Twitter and “Like” or “Follow” them to get special coupons not offered on their websites. Personally, I have been very impressed with the coupons available through company Facebook pages in the last year. Some of my best deals now come from coupons I printed from Facebook. If you have been avoiding getting a Facebook page, consider creating one just for couponing. Enjoy the coupons and only use it for that purpose if that’s your preference. You will not regret it!
The survey indicated that groceries are still the number one category where consumers are looking to save money followed by dining out, restaurants and clothing.
Here are a few more results from the study:
· 79% of respondents who are increasingly planning their shopping around circulars save up to $50 weekly;
· 79% of respondents using more mobile coupons this year are saving up to $50 a week;
· 82% of respondents who are using more online coupons this year are saving up to $50 a week; and
· 88% of deal seekers are most likely to visit their favorite savings or deal websites at least weekly (and here at the WRAL Smart Shopper blog, we really appreciate it every time you visit us!)
Click HERE for even more study results.
If you are not familiar with Redplum, they offer printable coupons on their website HERE and coupons in the Sunday newspaper inserts on most weeks. They also have a website for online coupon codes, Save.com found HERE. The 2012 RedPlum Purse String Study is based on responses from more than 9,100 participants. The survey was conducted on redplum.com from June 12 through July 11.
Smart Shopper Survey
I am curious about your responses to some of the survey questions. If you have a minute, please post your answers to the following 4 questions in the comments section below:
1. Are you couponing more this year than you did last year? (yes or no)
2. How much time per week do you spend searching for deals and coupons?
1 hour or less per week
1 - 2 hours per week
2 - 3 hours per week
More than 3 hours per week
3. Are you spending more time using mobile apps to increase your savings than you did last year? (yes or no)
4. Are you spending more time using social media (Facebook, Twitter, etc) for your savings than you did last year? (yes or no)
I'll compile the results and report back next week!