Consumers love promotions, regardless of how much money they earn. And they are increasingly savvy at navigating print, digital, mobile and social platforms to get deals. This is especially true of Millennials.
Eighty percent of consumers consider themselves "promotion sensitive" or "price conscious," per marketing firm Valassis' “Shopper Marketing Report,” compiled using data from Ipsos. The survey, fielded online last year, also suggests that nearly three-quarters of consumers go looking for deals after having heard about them on social media.
And a lot of Millennials -- about 67% -- like to showroom. In addition, Millennials are far more likely to be coupon users, especially in tandem with their mobile devices. Seventy-nine percent use paperless coupons from retailers versus 64% of the total. Ninety-two percent download coupons to their retailer cards before shopping; and 80% do so while at the store, versus 64% of everyone.
About 40% of Millennials -- who account for 21% of consumer spend, per the study -- say their coupon usage has increased over the past year; and a quarter of them say their use of smartphones to get deals has increased.
Lisa Reynolds, Valassis VP of brand strategy and campaign solutions, says consumers’ media diversity when it comes to deal hunting makes it important to figure out where and when to deliver the message via print, digital and in-store media. “With a holistic view of the consumer, marketers can best identify their target audience and optimal ways to reach and activate them along their path to purchase.”
Hispanic consumers, who will comprise about 19% of the population by 2020, per the study, have also increased their use of smartphones, online search, and frequent shopper/loyalty cards. They are also more likely than the general population to combine print and digital offers. About 95% of Hispanic Internet users download coupons from retailer Web sites or mobile apps before shopping.
The study was fielded in August last year, via online consumer opinion panel. Consumers were emailed an invitation to participate in the survey and were given three days to complete it, per the firm. The survey was closed at 1,000 completed responses, which were weighted by national census data.