Men, Millennials, and Coupons: What You Need to Know
Many of us remember sitting with our mothers, cutting little squares out of the Sunday newspaper inserts. For me, it was always the sugary cereals. "Buy Three, Get $.50 off!" Thanks to those coupons I was always able to wrangle at least one box of Fruity Pebbles or Cap'n Crunch. It's why I have such great teeth these days.
For a host of reasons, including those childhood memories, coupons have a strong association with women. Granted, women have historically been the primary purchasers in homes, and there is a bit of a coupon stigma among men.
Recent research suggests significant shifts in this old way of thinking. 33% of men reported using a coupon during Q4 2012, according to a white paper from Zavers by Google, and millennials are quickly catching on to couponing.
"Millennials shop differently from the way their parents did," the report states. This is evidenced not only by the growth of couponing among men, but also the way millennials are getting their coupons. Among those born between 1980-2000, 58% received a coupon through an app on their mobile phone, 53% searched online for deals, and 68% searched for coupons on their mobile device.
Turns out, the generation that hasn't really known a good economy is more inclined to saving than anyone predicted.
We're at a point in the coupon world where we can solidly dispel a few classic notions:
- Saving isn't important to men
- Millennials aren't interested in coupons
- Only poor people use coupons
Access' Vice President of Partnership Marketing Dave Bona offered his thoughts in this PYMNTS.com piece on the changing nature of coupons. While overall coupon usage in general dipped in 2012, most reports don't account for the rapid rise of mobile coupons - which coincides with the growth among men and millennials. As Bona points out, most men don't have purses - or "European carry-alls," as he puts it - to store coupons in, but there's a certain coolness associated with showing a mobile device at checkout.
The stigma with printed coupons still probably exists with men, and many millennials probably haven't even seen the Sunday insert in years, if ever. With digital options becoming widely available, that stigma is now irrelevant.
This changing attitude will play a big role in the eventual adoption of mobile wallets. Check out our thoughts here.
Interested in trying out mobile coupons for yourself? Contact us today for a free demo of the nation's largest private mobile discount network, featuring over 140,000 local and national merchant locations.
Written by: Brandon Carter