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BizReport : Ecommerce archives : March 12, 2015


Online voucher use growing except among silver surfers

The number of shoppers in the UK that seek out discounts and use vouchers has grown significantly over the past twelve months, according to new research commissioned by Voucherbox, apart from among older age groups.

by Helen Leggatt

The survey conducted on behalf of Voucherbox of 1,000 UK consumers found that shoppers across the nation are becoming increasingly savvy when shopping online.

Twelve months ago, just under one quarter (23%) frequently sought out discounts for online purchases. That figure has now reached a third (33%).

Furthermore, the number of consumers who 'always' use a voucher code when shopping online rose 70%, now accounting for 17% of all online shoppers, while the number of 'regular' voucher code users rose 27% now accounting for 16% of UK shoppers.

Across the four countries that make up the UK, Scotland showed the biggest rise in voucher code use, rising 40% YoY, followed by Wales (29% increase), England (17%) and Northern Ireland (11%).

The number of those who have 'never' used an online discount dropped 15% to just over a third (35%). Only 8% of respondents did not know what a voucher code was, down slightly from 10% last year.

In terms of age, voucher code has doubled among younger consumers (18-24 years old), from 32% to 63% while the number of people aged 25-34 using voucher codes rose from 40% in 2014 to 68% this year.

"Shoppers are continuing to demand more for their money from retailers and as more consumers look for voucher codes, these pressures will only further increase," said Shane Forster, UK Country Manager for Voucherbox.co.uk. "Responding to this growth in consumer culture benefits both parties - sales generated by the incentive of a discount are proven to drive significant extra revenue for retailers."

Interestingly, the Voucherbox survey found that, among those aged 65 and over, online discount use has dropped from just over half (53%) to 47%.

Marketers targeting older age groups may want to consider simplifying their online discount voucher processes or educating their audience on how to use them. According to research by Silversurfers.com, nearly two-thirds (62%) of online over-50s had never used an online discount voucher or cash-back offer or didn't know where they could find one.

That's a lot of missed savings. There are approximately 15.4 million over-50s online in the UK which means that 9.5 million are missing out on around £1,200 of annual online discounts each - totaling £11.4 billion.

And, this is a segment of the population that could really do with saving on their expenditure. According to the 2011 Office for National Statistics, just over 14 million people in the UK will be over 50 and not working in the UK in 2014. Many have minimal savings.






Image via Shutterstock

Tags: discount trends, online shopping, online voucher, UK








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