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Despite their notoriously tech-savvy reputation, millennials rely more heavily on print than most would expect, according to Valissis’ Sixth Annual RedPlum Purse String Survey.
With newspaper as their primary source for coupons and deals, promotion-sensitive millennials are getting their savings the same way as other consumers across all age groups and income levels, with 51 percent indicating newspapers as their first choice for savings.
The top five sources from which all respondents most often get their coupons and deals are the newspaper; emails/coupon alerts; Internet searches; mailbox; and retail circulars. For millennials, in-store exceeds their use of retail circulars by 4 percentage points to rank fifth. Regarding print sources, 33 percent of millennials get their deals from the mail; 21 percent from retail circulars; and 20 percent from coupon books.
Despite their continued use of print, however, millennials maintain their leadership of the digital trend. In fact, over the last 12 months, 27 percent of millennials indicated they used more mobile coupons compared to 17 percent of the overall findings. Additionally, millennials are using their smartphones to a greater degree than the general population, with 45 percent who access coupons in an email on their smartphone compared to 24 percent of all respondents; 41 percent who access coupon codes on their smartphone versus 24 percent; 36 percent compare deals versus 20 percent; and 32 percent download coupons to their loyalty cards compared to 20 percent.
“The RedPlum Purse String Survey results are somewhat counter intuitive from what you might expect based on what we know about millennials,” said Lisa Reynolds, Valassis VP of consumer engagement. “While they are heavy digital users, this group also embraces tried and true methods for savings, as much as any other age group.”
Grocery dominates across all respondents in terms of items consumers are most interested in, but even more so for millennials, with 85 percent seeking grocery coupons compared to 78 percent of the overall findings.
When looking for savings, more than half of mobile users indicated they are likely to identify an item in store but make the purchase online for clothing/shoes (61 percent); household goods (52 percent), and big ticket items (55 percent). In all instances, this behavior was driven by a better price.
“Consumers have become efficient deal-seekers and are achieving savings by clipping coupons, downloading them to their smartphones and sharing with friends in a variety of ways including across their social networks. It’s a new world,” Reynolds added. “The path they take to make their purchase decisions is varied and marketers are taking note to better engage and activate consumers wherever they plan, shop, buy and share.”
Valissis’ RedPlum Purse String Survey, conducted in conjunction with National Coupon Month in September, is based on insights from more than 5,100 respondents.