Why are coupons vanishing when we need them most?

More than 90% of consumers have used coupons at some point, however the number of coupons being distributed is declining. With the decrease in circulation of newspapers that offer paper coupons, there has been an increase in coupons that can be used and accessed online.

This year it is predicted that 80% of all coupon redemptions will happen on a mobile device, with more than two-thirds of consumers saying they would only choose to shop at stores that offer digital coupon redemption. However, with the current cost of living crisis and inflation on the rise, is the use of coupons being threatened?

Which area is at risk of losing the most coupon users?

Food retailers are the biggest industry that has taken the highest loss of coupons, with 20% of establishments halting the use of couponing. Grocery stores and restaurants are the ones who are facing the biggest burden, research from CouponBirds reveals.

Clothing (18%) and tickets (14%), including travel or events, have also seen a decrease in coupon usage. Meanwhile the entertainment, cosmetic and software industries are all decreasing their coupon usage gradually.

Despite many industries still trying to make up for their economic losses during the pandemic, the decrease in coupons being accepted is ultimately affecting the consumers just as much. More and more paper coupons are being discontinued or unaccepted in stores, with redemption rates declining to 0.5%.

How can we make the most of couponing?

Knowing where to find the right coupons and starting to collect them should be the first step you take in your couponing strategy. Take a look at online couponing sites, such as CouponBirds, and see if they have coupons and discounts for your favorite stores. Planning meals and grocery shopping can also be done when taking a look at online couponing stores – try using stores that have active coupons ready to use to help save even more money.

If you prefer to have paper coupons, a lot of online stores will still grant you the option of printing at home to use in store. Take a moment to scan the coupon sites to see if there are any coupons that you hadn’t thought of using before but could benefit from. Coupons expire quickly, so make sure you’re taking the time to revisit and relook as often as you can.

When using coupons as a newbie, you may find the process a bit daunting or overwhelming. Instead of going to the store with a wallet full of coupons, try organizing them in terms of value or expiration dates. To ease yourself into using coupons effectively take the ones that can take a large portion of your final price off, or the coupons that have a short date to use by. This means that you’ll still be able to use your discounts but will make the new process a lot easier to get comfortable with.

Although you may have coupons for a range of different products, try and only use the ones that you actually need. Lots of items may have coupons or discounts that will help you save money on the purchase, but it should always be considered if you actually need what you are buying. Use your coupon skills for items that you actually need. Keep an eye on the deals and coupons for the things that you actually need to ensure you’re still being as cost-effective as you can be.

What does the future look like for couponing?

With the rise of mobile couponing redemption, there looks to be hope for consumers who predominantly shop online. 68% of online shoppers have all reported that they look for, and use, coupons when shopping through online stores. Furthermore, shoppers also care more for what store is the most cost-effective and the appropriate coupons that are being offered.

69% of millennials (those aged between 25 and 40) are more likely to use couponing whilst shopping, particularly those who are parents. Searching for coupons, paper or mobile, is usually prepared before grocery shopping and no doubt plays a factor in where couponers look to spend their money.

Whilst coupons are vanishing, there is still a need for them amongst our society. Inflation and the cost of living is on the rise, and people are looking to use more coupons and discounts to ensure they are getting the best out of their money. The increase of mobile coupons and discount sites have contributed towards a new generation of money-savers, with a higher percentage of shoppers now taking their shopping online in order to save more money through discount codes and digital coupons.