UK consumers save £2.3billion a year using coupons

by Team on 04/06/2013

Consumers turn to coupons to battle the rising cost of living and price of food

The growing consumer appetite for redeeming money-off coupons and vouchers has increased dramatically with a vast 90 per cent of UK consumers stating that they use coupons. As a result, by using coupons, shoppers save on average £5.70 each per month. This amounts to a massive total of £2.3billion a year – the amount the UK spends each year on online groceries.

The latest research and analysis from Valassis, which handles more than 85 per cent of FMCG coupons, also shows that the higher the social class, the more likely they are to save. A third (33 per cent) of ABs save at least £5 a month via coupons, whereas only 25 per cent of DEs do so.

The rising cost of living (24 per cent) and higher food costs (20 per cent) are cited as the main reasons for seeking out promotional offers, according to the survey of more than 1000 UK adults.

One area that has not grown significantly is the use of electronic coupons.

Despite the general trend towards the increasing use of internet and mobile communications, only eight per cent of shoppers are using internet coupons more than they were last year and only nine per cent are using mobile coupons more.

Charles D’Oyly, managing director of Valassis, comments:

“While consumers are still finding the financial climate tough, nearly all of them are doing their best to fight back by making the most of coupons and the savings they can bring.

“The amount of money shoppers can save by redeeming coupons can really add up – £2.3billion a year is an enormous total and the equivalent to the amount the UK spends on video entertainment (DVDs, games).

“Consumers are becoming more and more money off motivated with tracking down coupons becoming increasingly incorporated into everyday shopping behaviour, and many planning their shopping destinations according to where the best discounts are available.

“What surprised us is that the use of coupons and vouchers from mobile phones or the internet does not seem to be growing as rapidly as the media might lead us to believe, and paper still leads the way.”

The research was conducted between 19 and 21 April 2013 by Gfk NOP on behalf of Valassis.

Valassis Ltd is the UK’s largest coupon and voucher services provider performing crucial data management and financial clearing services for the likes of Sainsbury’s, Procter & Gamble, and Associated Newspapers.

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