But according to the Sixth Annual RedPlum Purse String Survey, 51 percent of millennials chose newspapers as their number one source for coupons and deals. Other print sources include:
- 33 percent from the mail
- 21 percent from retail circulars
- 20 percent from coupon books
45% of millennials said they’re likely to give or send physical coupons to friends and family.
Looks like paper is still going strong.
On the digital side, 27 percent of millennials say they’re using more mobile coupons and their usage does exceed that of the general population.
- 45 percent access a coupon in an email on their smartphone compared to 24 percent of all respondents
- 41 percent access a coupon code on their smartphone versus 24 percent
- 36 percent compare deals versus 20 percent
- 32 percent download a coupon to a loyalty card compared to 20 percent
The best news for marketers is that millennials are more likely to share coupons and deals than any other age group.
- Word of mouth – 71 percent versus 56 percent of the general populace
- Text – 30 percent versus 19 percent
- Social – 43 percent versus 29 percent with Facebook as their channel of choice accounting for 33 percent of their social sharing, 10 percent higher than overall findings
That middle one gets me. Text? I’m not a fan of text coupons and I certainly wouldn’t forward one to a friend. One of the reasons I don’t share is because I’ve always assumed that text and other digital coupons are coded to one person and one person only. You’ll see this in a lot of printables – they have your name printed on the face to keep you from running off and handing out hundreds.
Now for the bad news (for brick and mortar sellers), the majority of mobile millennials says they’re likely to pick out an item they want in a store but purchase it online.
- 61 percent for clothing / shoes
- 52 percent for household goods
- 55 percent for big ticket items
When it comes to coupons in general, the majority (85 percent) of millennials are looking for savings in the grocery store. 78 percent are looking for restaurant and clothing deals. Don’t disappoint them, let’s keep those coupons coming.