Millennials sharing the wealth through coupons

Written by: Kristina Knight

According to the RedPlum Purse String Survey one-third of Millennials use coupons received in the mail and 21% from retail circulars but nearly half are also snagging emailed coupons or coupon codes via their mobile device. Researchers found:

• 45% access coupons from email via smartphone
• 41% use coupon codes on their smartphone
• 36% compare deals
• 32% will download coupons to loyalty cards

“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 Vice President 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. Promotion sensitive, they are a true testament to the use of savings from both print and digital sources.”

Compared to the rest of the population, Millennials are leading a new coupon charge. For example, where 45% of Millennials use mobile devices for emailed coupons only 24% of the general population were found to do the same. Results were similar with the rest of the variables: the general population falling behind Millennials’ use of devices for couponing.

As for how Millennials are sharing – and finding out – about coupons and deals, nearly three quarters (71%) rely on word of mouth while 43% depend on social networks and one-third (30%) rely on text messages.