Paperless Coupon Usage On The Rise
Tags: Marketing Services,
Evidence suggests that consumer spending has slowed sharply. This seems to have spurred coupon usage among consumers, who appear to be cutting back and focusing on how to stretch their dollar.
Strong evidence suggests that consumer spending, a bulwark against recession over the last year even as energy prices surged and the housing market sputtered, has slowed sharply. The possibility of a decline in personal consumption (the first since 1991) would almost certainly push the entire economy into a recession in the middle of an election year. There are mounting anecdotal signs that beginning in December ?07, Americans cut back significantly on personal consumption, which accounts for 70 percent of the economy. This in turn seems to have spurred coupon usage among consumers, who appear to be cutting back on luxuries and focusing on how to make their dollar go further. CMS, the leading provider of promotions logistics services, announced that over 331 billion dollars in potential consumer savings were distributed through coupons in 2006. With over 2.6 billion coupons redeemed, marketers found an eager audience in almost half of the country. Almost 142 million consumers used coupons in the past 12 months, with substantial usage across ethnic and demographic lines.