Attention retailers: Wealthy customers like coupons, too

Think wealthy folks are averse to using coupons? Think again.



A new study by intelligent media delivery firm Valassis found that coupon use among the affluent is strong despite their six-digit annual incomes.

  

Consumers collectively saved $3.4 billion by redeeming coupons in 2015, according to NCH data, and affluent shoppers were no exception. Valassis’ research illustrates an opportunity for marketers to reach this group via integrated print and digital promotions.



Among the affluent (household incomes of over $100K) shoppers surveyed, 28% have increased their use of coupons in the past year. Fifty-six percent reported that they enjoy using coupons, and 87% believe that coupons save them a lot of money.



Print coupons remain popular with affluent shoppers. Eighty-eight percent use coupons from the mail, 84% use coupons delivered in the coupon book, and 81% find print coupons before shopping.



In other key findings:



• Half are using their smartphones or other mobile devices to help them save, and 29% of these coupon users have increased their use of paperless discounts and the Internet (31%) to find savings in the past year.



• A majority report that coupons, discounts or offers influence their purchase decisions at retail, with 83% making purchases based on in-store discounts, 77% searching for deals in store circulars and 72% printing coupons from the internet for use in-store.



“All consumers care about saving, regardless of income level,” said Curtis Tingle, Valassis chief marketing officer. “Our study found that affluent shoppers are just as likely to take advantage of coupons as all consumers, as they still want to be smart about their spending. They are using both print and digital promotions, so in the age of omnichannel shopping, it is important that marketers use a balanced integrated media strategy to capture mindshare, build loyalty and drive both brick-and-mortar and e-commerce sales with affluent shoppers.”