The majority of American consumers clip coupons and its not all about the discounts—’s also about the hunt.
September is National Coupon Month and the PMA Coupon Council likes to remind marketers that 76% of the overall population uses coupons, ringing up about $3 billion in annual savings.
The average coupon is worth about $1 today. Some 63% of shoppers report combining coupons with other in-store specials, sales or frequent shopper card discounts to increase their saving even more. Coupon users said they saved an average of 11.5% on their grocery bills by using coupons, said council Co-Chair Charles Brown in a statement.
In 2004, 84% of females and 68% of males used coupons clipped from Sunday newspaper inserts, retail fliers, magazines, in and on packages and online. The council said that retailers are increasingly turning to coupon promotions to attract, retain and reward loyal shoppers. In 2004, 46% retailers reported offering shoppers some form of a bonus coupon program.
Did you know: Coupons were born in 1894. Asa Candler, the druggist who bought the formula for Coca-Cola for $2,300, distributed handwritten tickets for a free glass of his new fountain drink.
— The PMA Coupon Council