SALT LAKE CITY — Consumers love digital coupons, according to data shared with KSL investigators. They’re tailored to everyone’s shopping habits, easy to use, and unlike their paper counterparts, they don’t get lost because most are connected to smartphone apps or an email inbox.
But that same data shows that most coupons in the market today are still paper.
Inmar, which works with companies and manufacturers to develop coupons, found that 91% of all coupons are old-fashioned paper coupons. That’s a problem when you compare it to consumer demand — 34% of coupons actually used are digital, Inmar found.
“So the contribution of digital is really, really uneven today,” said Spencer Baird, interim CEO of Inmar. “Only 5% of what is distributed is what consumers value the most.”
Most coupons are still paper, although customers are MUCH more likely to use digital coupons. As brands fumble through the transition, this is an opportunity for you to save money and BUST INFLATION. We’ll talk about it this morning at 6:45 on KSL TODAY. @KSL5TV pic.twitter.com/ojQ3K4lNKy
— Matt Gephardt KSL-TV (@KSLGephardt) June 17, 2022
With consumers much more likely to use digital coupons, as the data suggests, businesses are on board. You’ve probably noticed that almost everywhere you shop, there’s a push to download and buy using that store’s app. Baird says part of that is directly related to coupons.
“Most often, consumers interact with digital incentives through the app of the retailer they typically visit,” Baird said. “So it’s really something that jumps out at you as soon as you open the app, boom, the coupons are right there.”
The advantage for the store is that it can sell to you. The benefit to you is that marketing usually means giving you a discount on items you might need to buy anyway, and maybe reminding you of a coupon you forgot or didn’t even know was there. he was available.
But not all apps are equally consumer-friendly, so Baird’s advice for people looking to save is to pay attention to digital coupons before you hit the store.
“It’s important that as consumers look to save money, they are a little better prepared to go to the grocery store or whatever store they shop at, because there are a lot dollars tied into that,” Baird said.
According to Inmar data, 74% of buyers use digital incentives. That’s a 13% increase since the middle of 2021 and the data indicates that trend is continuing, Baird said.
As companies compete for your business, it can seem overwhelming to have to download dozens of different apps for each location you shop – or even individual products – but there are savings to be made by doing so.