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Two-thirds of consumers would 'Like' a brand for a 25% saving
The fifth RedPlum Purse String Study has been released by media and marketing services firm Valassis and it reveals that seeking out deals and coupons has become increasingly social and mobile.
Consumers are becoming increasingly proficient at seeking out money-saving deals which, in turn, saves time. The number of consumers comparing prices online and in digital media is up 9% over 2011, according to the latest RedPlum Purse String Study. Sixty-one percent of respondents now plan their shopping trips around circulars, coupons and deals, up 10% from 2011.
Over 6 in ten consumers spend up to 2 hours each week looking for savings, and save up to $30 each week using coupons. Compared to last year deal-seeking is taking less time but with the same results. This is reflected in an 18% increase in 2012 vs. last year in those spending less than one hour in their search despite the dollar amount saved remaining the same.
Furthermore, the deal-finding process is becoming ever-more social. As well as sharing and swapping coupons and deals with family and friends (83%), a whopping 67% would 'Like' a Facebook Page if it meant they received a 25% saving. To obtain the same saving 75% would sign up for an email newsletter and 17% would Tweet or Retweet a deal, up 5% from 2011.
"These findings indicate that consumers are still very interested in savings and have developed a forever frugal mindset," said Lisa Reynolds, Valassis Vice President of Consumer Engagement. "They have become so accustomed to searching for value that these deal-seeking behaviors have become second nature to them. They clearly value the dollar as well as their time."
Mobile's role in making savings has risen significantly. More consumers are using mobile coupons and apps since last year's study - up over 100% from 2011. Those in the $20,000 or less income bracket were most likely to have increased their use of mobile to seek out deals.
To download an infographic based on this study, go to: http://bit.ly/RCCFAU
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