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BizReport : Ecommerce archives : October 04, 2010

RetailMeNot: Nearly $60 million in coupon savings through June 2010

For the first half of the year, consumers have been searching for, downloading and printing online coupons in huge numbers. According to coupon platform RetailMeNot consumers have redeemed more than $57 million in coupons between January and June of 2010. For the RetailMeNot website, more than $8 million in savings coupons have been downloaded.

by Kristina Knight

retailmenot.pngMore than 80 million consumers are now downloading coupons from the RetailMeNot site, a 49% increase year over year with coupons generating about $192.4 million in savings for the first half of the year.

Meanwhile data from coupon hub finds that online coupon downloads are now outpacing the redemption of traditional paper coupons.

What are consumers looking for in a coupon? If traffic to RetailMeNot is an indicator: everything. The hottest store coupons were for Victoria's Secret, Amazon and Kohls with most of the downloaded for categories such as Food, Apparel and Restaurants. Where are coupons consumers from? New York, Massachusetts, New Jersey and Virginia consumers are using online coupons most according to the survey.

One thing that has changed over the past five years in the couponing industry is what businesses are using in their coupons. For most of the 20th Century, businesses printed $1, $0.50 or $0.25 coupons for the food category; retailers came on-board in the 1980s, sending coupons direct to past customers. Since the Internet age, however, coupons have grown substantially. While food and apparel are still coupon standbys, businesses are now offering coupons for tax preparation, carpet cleaning or even cleaning services.

Tags: coupon downloads,, online coupons, online shopping, RetailMeNot

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  • Retailmenot has the biggest venture capitalist beside all every strategies of this company till today is amazing.

  • I'm still baffled as to why they would sell to WhaleSharkMedia for around just $90M (according to TechCrunch) if they were generating so much cash already. That's less than 2x valuation.

  • Retailmenot is doing tremendous job to save our money. I love all those sites which offer free coupon codes because money is really hard to earn.



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