Couponing can be a hobby in itself, and it can be a great opportunity to buy groceries, tech, downloadable purchases, or even coupons that reward shoppers with cashback incentives, so there are plenty of reasons to start collecting those coupons.
However you find your coupons, you might have wondered how other people value the action and if there are any trends in couponing. Below are some statistics that might surprise you or make you see couponing in a different light.
31 Interesting Coupon Statistics
- In 2020, 88% Of Respondents said they used coupons for shopping, with first-time and regular users making up this percentage.
- 92% of shoppers in 2020 searched for coupons before buying online by using extensions or by email offers, with 30% of shoppers redeeming these coupons within 24 hours.
- 29% of shoppers will purchase something if there is a steep discount on it, and US consumers spend 13 million hours per week searching for discounts.
- Digital coupon usage in 2020 exceeded paper coupon usage, which isn’t surprising, knowing that retail e-commerce sales reached $960.1 billion in 2021.
- Digital Coupon redemption will exceed $90 billion this year, while 1.05 billion paper coupons will be redeemed in 2020.
- 96% of millennial parents reported using digital coupons in 2020, as they saw it as a better option than going in person to a store.
- 86% of millennials in 2020 say they could be persuaded to try a new product if offered a discount, and this may lead them to buy a product sooner than if they were to buy another product.
- In 2020, digital coupon usage in online grocery stores rose by 54%, meaning that these stores can maintain consumer loyalty and can create personalized deals for specific products.
- 60% of online shoppers reported that discounts were even more important during 2020, being a time of uncertainty and where incomes were under threat.
- 95% of shoppers used coupons at least once during 2019
- The total savings from consumer goods coupons in the US is $3.6 billion
- Household items are the most popular type of coupon category in the US, and other coupons can influence 86% of consumers to try new products.
- In 2017, almost 300 billion coupons were distributed
- The couponing industry in the US is estimated to be worth over $100 million
- Coupon users report a saving of 7% on their grocery bill by using coupons
- 38% of consumers buy more than they would have because of a coupon, which can be a good or bad thing, depending on how you look at it.
- 62% of shoppers check store circulars for coupons to match items on their shopping lists
- On average, couponing can save someone about £272 a year on household goods, $264 on eating out, and $160 on entertainment.
- 74% of consumers followed the social media of brands looking for coupons or discounts, and some of these consumers unfollowed a brand if they didn’t offer deals at regular intervals.
- 10% of shoppers prefer paper coupons
- Paper coupon distribution fell by 15% in 2020
- 68% of shoppers believe that using digital coupons generates loyalty
- 69% of people enjoy receiving coupons, and 61% of consumers in 2021 used apps developed by grocery and mass stores to find coupons or deals.
- 17% of online consumers have a coupon-finding extension for their browser, with many of these offering cashback options when a purchase is made.
- 90% of shoppers use at least one coupon during a transaction, while 48% of women in the US download digital coupons while in-store.
- 86% of consumers who earn $200,000 and above use coupons, so there isn’t a distinction between earnings and consumption with everyday types of shopping.
- 55% of shoppers get annoyed when they can’t use coupons for household goods
- 62% of consumers report that they shop according to what coupons they have, while 64% of men use coupons to buy food through delivery services.
- Female shoppers spend 60% more time than males looking for deals and discounts, as 73% of women use coupons to buy clothing and accessories.
- Email coupons can bring a 48% increase in revenue for each email sent.
- 47% of consumers get excited when they qualify for an offer, and this extends to 36% of shoppers who feel special, and 34% feel honored when they see this offer.
What Kind Of Coupons Are There?
The first common type of coupon is the paper type that you can find in newspapers, promotional material, store flyers, ads, and mailers sent to your house, and these will often come in a manufacturer or store type coupon.
The next type, which is becoming ever more popular, is the digital coupon that you can get through coupon extensions, emails, and even paid survey sites like surveyjunkie.com, where you can also receive rewards and e-gift cards.
You might be able to print off a digital coupon, or you might find some when you checkout your items online, and you might even be able to receive coupons through a retailer or manufacturer’s social media.
Benefits Of Using Coupons
The first obvious benefit is that you can make some significant savings, and there are ways that you can make even more money if you use cashback services such as swagbucks.com, where you can earn gift cards and money back from surveys and purchases you complete online.
It also means that people are becoming more wise with their money as they can save money and spend this on other, more essential services.
This, paired with digital cash envelopes such as qubemoney.com, can help people assign funds to certain areas of their spending, giving them more control over spending too much, whether they’re a low or medium-income individual.
Another significant benefit is that it can be really easy to do, and in some cases, it’s just a matter of downloading a plug-in for your browser, and while you shop, it will scan the web looking for potential deals and can apply them for you.
With paper coupons, you can simply get a newspaper from your local area or district, and between the pages, you’ll likely find coupons there, and some find these coupons to be really useful.
You could also check if your grocery store has a magazine or flyer advertising certain products, which you can typically find at the checkout, or testers that allow you to sample certain products in the store.
Problems Of Using Coupons
While you can save a significant amount of money on your shopping, and with there being an estimated $91 billion in redemptions in 2022, with 5.3 billion of these coming from QR codes, this insistence on couponing can cause some to spend more than intended.
You also get the issue of paper coupons, where you might feel the urge to use them regardless of whether you need the discounted item or not, as not using coupons to some can feel like a waste.
It can be detrimental to businesses as well, as it can cost businesses money to be able to offer the discount, and while they see a rise in particular sales, they aren’t making as much profit as they could.
They also see the issue of lowered profits when consumers wait for a product to go on sale or a coupon to be available for it, so businesses can lose revenue from a product before they’ve even introduced the coupon for it.
This can also apply to online stores where they can see a reduction in the perceived value of a product or service that might be labeled as cheap, which devalues the product in the long run.
Now you have access to the statistics that cover everything from customer spending habits to demographics, you can see that couponing is a popular and rewarding experience with young adults to senior citizens alike.
These coupons are available for the purpose of saving money, so there’s no reason why you should be put off using them, and there may be stores that have a loyalty program where you can save even more money, which is music to our ears.
You don’t have to be obsessive about collecting coupons, as there’s a good chance that you’re not going to need many of them, so passing them along to someone else is a good idea.
You can save some money in-store or online, and you don’t have to compromise by using alternative brands, as with some products, it’s just the case of waiting for the deal to occur, and in turn, you’ll get the products you know and love. Thank you for reading.
Paul Martinez is the founder of BendingDestiny.com. He is an expert in the areas of finance, real estate, and eCommerce.
Join him on BendingDestiny.com to learn how to improve your financial life and excel in these areas. Before starting this blog, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.