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Coupon use on the rise

Consumer spending is slowly increasing, but shoppers are still looking for the best deal they can get. A report from RetailMeNot, an online coupon website, showed that there has been a significant increase in coupon use on the Internet and on mobile devices. While consumers are more confident about their purchases, they are always looking for the best prices and making cautious decisions about their next investments. Online and mobile coupon usage may also drive in-store sales as people will still desire the in-person retail experience when searching for the perfect product at the perfect price.

Vast majority of consumers still use coupons
According to the report, 92 percent of people surveyed said they were coupon users and 43 percent said they thought discounts of 25 percent or more to be a good deal. Many are looking for coupons that will benefit their wallets in any way, with 31 percent seeking coupons that take dollars off their purchase. Only 9 percent are looking for deals that shed shipping costs.

Online coupon usage has increased to almost double what it was three years ago, from 16 percent to 29 percent. Mobile coupons are also gaining traction; where only 4 percent used them three years ago, 10 percent are currently using them. But printable coupons remain the most widely used, with 60 percent of respondents saying they prefer them. A majority of shoppers are still looking for the brick-and-mortar experience and want to make sure they are saving as much cash as possible.

With more people confident about their purchases while also looking to save as much a possible, banks, credit unions and grocers can offer self-service coin counting machines so coupon users can count and make use of every bit of spare change they have.

October 3, 2013