Magazine article CRM Magazine

Don't Discount Discounts

Magazine article CRM Magazine

Don't Discount Discounts

Article excerpt

WHILE THE MERE MENTION of coupons might be met with disdain by your executives, it's a trend that, since the Great Recession, is on the rise. That's because today's customers not only want coupons, they demand them. The demand is so high, in fact, that it challenges traditional thinking about life stage behaviors.

Years ago, as a teenager and young adult, coupons never really appealed to me. Admittedly, life stage might have had something to do with it. Even into my early 30s, I figured being financially prudent simply meant that I had to pay my bills on time. At this stage of my life, I didn't believe that spending too much on something was financially imprudent, especially when I earned my own money and wasn't responsible for anyone else. But this changed after I got married and started a family. Today, I'm no longer only accountable to me; I have to consider the rest of my family when making purchases, especially big ones. So, I'm more amenable to coupons.

My changing view about coupons is probably consistent with that of many other Baby Boomers and Gen Xers. But times have changed. Millennials--who are in their 20s and 30s today--are not only more receptive to coupons, they're most receptive to them.

According to our cover story, "Is Overcouponing Hurting Your Business?" (page 30), by Associate Editor Maria Minsker, 92 percent of Millennials use coupons to plan their shopping lists and 51 percent say their coupon usage has increased over the past year. That this percentage is higher than overall shoppers' use of coupons (85 percent) is important to note. One expert in the story says, "Couponing is becoming huge across the board, and the fact that younger generations are embracing it is particularly telling. It suggests that couponing is on a continuous trajectory and its prevalence in the economy will only grow."

This doesn't mean life stage is no longer a consideration. …

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