Coupon Use on the Rise
Clipping coupons has always been a reliable way to save a few bucks, but over the past three years Americans have been clipping more and more. Though some economic experts swear that the recession officially ended several months ago, average families are still struggling and looking for ways to save.
Much of this increased coupon use comes from consumers looking for the best deal in tough times. When strapped for cash, they are much more likely to shop around and buy alternative brands if a coupon or discount is offered. In fact, from last year until now, Americans have cashed in about $2.9 billion in coupons. Luckily for some avid coupon-clippers, this trend is only continuing to gain popularity.
Another factor influencing the use of coupons is the increased amount of coupons available. Whether retailers are realizing that the couponing trend is not going away, or they're simply trying to draw cash-strapped customers into their stores, billions more dollars in coupon savings have been distributed this year.
This coupon craze could be a good thing for both businesses and consumers. People are spending less than ever, especially on non-essential items. But when a customer perceives a good deal and gains the satisfaction of keeping some of their hard-earned dollars, they are more likely to shop. This could mean a spark, however small, that ignites sales for small business owners in tough times still ahead.
So where can savers look for their coupons? Almost 90% of the coupons Americans clip come from newspapers. Another fact: the most redeemed coupons are for food, which can be especially helpful to families during the upcoming holiday season.
The amount of money you save your family this year might depend on how diligently you clip coupons and hunt for online deals. To save on everything from holiday gifts to canned goods, don't overlook the coupon craze.
(Photo courtesy of GCG)