The Surprising Truth About Coupon Use
Coupon use is on the rise, but you may be surprised about who exactly is using them. New research shows that educated high-income earners are more likely to use coupons than those earning less and with no college education. And while coupons for food remain popular with consumers, savings on other types of goods and services are on the rise.
The Face of Coupon Users
Households with an annual income greater than $100,000 are more than twice as likely to use coupons than households earning less than $35,000 per year, according to an article on CNBC. College graduates are also twice as likely to use coupons as those who didn’t graduate from high school.
A report by MSN Money shows that more younger Americans are using coupons. More than half of teenagers aged 13 to 17 use coupon codes when ordering products online. Teens are learning how to save money by watching their parents use coupons, and using their money wisely as a result.
Part of the reason that more educated and affluent consumers are using coupons is because consumer confidence is low following the recession. Unemployment is high, so people are saving money by shopping smarter, even if they have a job. Food and consumable products are rising in price faster than inflation, so saving money has become the savvy thing to do.
Where Do Couponers Live?
People all over the country use coupons, but they are more prevalent in the South and the Midwest according to MSN. The city with the most coupons redeemed was Atlanta, Georgia, followed by Tampa, Florida. The top 25 cities included nine in the South and seven in the Midwest. Only two western cities made the top 25, Seattle, Washington, and Phoenix, Arizona.
Coupons Gaining Popularity
Consumers can find coupons in their newspaper, in magazines, online, and through smartphone apps. MSN reports that the majority of coupons redeemed are still traditional printed coupons clipped from newspapers, with Internet coupons only accounting for 1.5 percent of all redemptions. Smartphone coupon apps are becoming more popular, with 20 percent of phone owners using mobile coupons.
In 2011, coupon use rose 63 percent in the United States, with 3.3 billion coupons redeemed. That was an increase of 100 million coupons compared to 2009. This increase helped Americans save $3.7 billion in 2011.