Industry Eye: Prospecting - Victoria's Secret, Target
Online, Offline Coupons Draw Shoppers
As consumers seek any way to save a buck in these trying economic times, more are turning to coupons. And retailers, both online and off, have taken notice. Consumers increased their coupon use by approximately 20 percent during the first half of 2009, according to the Promotion Marketing Association Coupon Council (PMACC). In fact, double-digit growth in coupon use started in the fourth quarter of 2008 and hasn’t slowed down this year. As a result, integrated retailers have made coupons an integral part of their prospecting efforts — particularly online. Victoria’s Secret, Macy’s, Kohl’s, J.C. Penney and Best Buy all ranked in the top 10 most searched stores for online coupons in July according to RetailMeNot.com, a consumer destination for coupons, discounts and promotional codes for merchandise, travel and services.
Per findings from recent surveys by the PMACC and RetailMeNot.com, here are some more telling stats about coupon use:
- 94 percent of the overall population report that they’ve used coupons when shopping for grocery, household and health care items, an increase of 5 percent over last year, says the PMACC;
- 89 percent of the overall population say they’ve prepared shopping lists using coupons, up from 78 percent in 2008, reports the PMACC;
- in July, more than 9.7 million consumers visited RetailMeNot.com, generating approximately $18 million in sales for retailers posted on the site; and
- RetailMeNot.com’s active user community shared nearly 30,000 coupons on the site.
Among the most successful offers has been Target’s $5 off of $50 at Target.com, which ranked as the top online coupon in July with more than 14,000 clicks, according to RetailMeNot.com. And the top national printable coupon download in July came from Dick’s Sporting Goods, with its $10 off of $25 offer downloaded 4,998 times.
What’s more, New York, Massachusetts, New Jersey, Virginia and Maryland ranked as the top five states using online coupons in July, according to RetailMeNot.com, while residents in Kentucky, Minnesota, New Jersey, Connecticut and Arizona used the most printable coupons during the same month. —Joe Keenan