A July 2021 survey from Vericast, a data and technology solutions company, revealed 60% of respondents were actively searching for more coupons because of price increases. After decades of use, coupons continue to be a consumer favorite, despite many major brands’ attempts to stop offering them.
Radio is a popular medium with adults 18+ who used coupons or grocery store flyers during the past month, according to data and analysis from the Media Audit. Two primary demographic data points from five of the Media Audit’s 2021 consumer/market surveys show the average age of these coupon clippers is 49, and their average household income is $69,000.
Correlating coupon users by generation and heavy exposure to radio (180+ minutes during an average day) reinforces their average age and household income.
Millennials are in the prime years for their careers, starting families and buying a home, so coupon savings are critical to balancing their household budgets. Coupons help them save on those increasing costs. Members of Generation X also have households to maintain, but many of their nests are starting to empty.
“With inflation at the highest level in decades, the coupon-usage trend from the July 2021 survey will only increase as households need those savings even more today,” said Annette Malave, Senior VP, Insights, Radio Advertising Bureau. “Another comparison of data from The Media Audit’s five 2021 consumer/market surveys supports an oft-cited maxim about the affluent: They became affluent because they spend their money wisely.”
Unsurprisingly, households with the smallest incomes over-index the most for having used coupons or grocery store flyers during the past month and being heavily exposed to radio, but those with the largest incomes also over-index for this correlation.
The Media Audit surveys include specific data points on household affluence. All of them over-indexed, on average, for having used coupons.
Affluent empty nesters: age 45+, $50K+ income, no children at home – 109
Affluent full nesters: $75K+ income, children at home – 104
Graying affluents: age 50+, $50K+ income – 110
Affluent Baby Boomers: $100K+ income – 105
Affluent Baby Boomers: $250K+ in financial assets – 112
Affluent working women: $75K+ family income – 106
Affluent blue-collar workers: $75K+ family income – 128
Affluent white-collar workers: $100K+ family income – 109
Coupons are here to stay, and brands and retailers can engage with the many segments of coupon clippers by choosing radio as their primary reach medium, the Media Audit says. Radio, available across a multitude of mobile devices, can also be the mechanism for these thrifty consumers to obtain discount codes and mobile coupons.
Comments