New Survey Reveals Coupons and Discounts Drive Consumer Spending During Economic Recession

54% of Adults Would Decrease Discretionary Spending During an Economic Recession; 63% of Adults Will Not Make a Discretionary Purchase if They Cannot Find A Deal

MELBOURNE, Australia--(BUSINESS WIRE)--The results of a newly released consumer survey commissioned by RetailMeNot, the web’s leading consumer destination for online coupons, discounts and promotional codes for merchandise, travel and services and conducted by Harris Interactive^® reveals the impact the recession may be having on consumer shopping behavior. According to the survey, more than half of adults (54%) say they would reduce discretionary spending during an economic recession and the majority (63%) of adults said they would not make a purchase if there was no deal attached. The survey, which polled 2,471 online adults within the United States, sends an unambiguous message to retailers: during an economic recession, consumers would cut budgets, yet will continue to shop when discounts are available.

“RetailMeNot is designed with the user in mind, to help consumers save money quickly and easily. Shoppers on our site report an average savings of $29 on an average purchase of $151, all for only a few seconds work looking up a coupon code”

Coupons are a household staple for many Americans—the survey found that the vast majority of adults (86%) have used coupons and/or discount codes while shopping. However, this figure may soon rise as the economic slowdown prompts many consumers to reevaluate spending behaviors and place a higher priority on budgeting and deal-seeking. More than one in three adults (37%) said that, during a recession, they would increase the use of coupons and/or discount codes; among women, the figure was even higher at 43% (vs. 31% of men). Retailers have an opportunity to bolster sales and preserve customer loyalty by rewarding savvy shoppers with discounted merchandise.

The survey also revealed that adults are equally as likely to look for deals on discretionary purchases online as they are to do so in stores (56% each). They are less likely to look for deals in direct mail such as catalogues, brochures or flyers (46%), coupon books (38%), in outlet malls (24%) or on television (18%). Armed with the knowledge that more than half of adults are searching for deals on the internet, retailers can build marketing strategies designed to target these shoppers by tapping into the growing popularity of coupon websites such as RetailMeNot.com.

“RetailMeNot is designed with the user in mind, to help consumers save money quickly and easily. Shoppers on our site report an average savings of $29 on an average purchase of $151, all for only a few seconds work looking up a coupon code,” said Guy King, co-founder of RetailMeNot. “Traffic to RetailMeNot has tripled over the past year, indicating an increase in demand for coupons. Retailers have a tremendous opportunity to cater to this audience and drive traffic to their e-commerce channels by offering more online coupons and discount codes.”

If you would like to view the full results of the Harris Interactive survey, including regional and demographic break-downs, please visit www.retailmenot.com/harrispoll.

Survey Methodology

This study about Coupons and Discounts was conducted online within the United States by Harris Interactive on behalf of Retailmenot.com between February 13 and February 15, 2008 among 2,471 adults ages 18+.

Results were weighted as needed for age, sex, race/ethnicity, education, region, and household income.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words “margin of error” as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys.

The data have been weighted to reflect the composition of the online U.S. adult population on the basis of Internet usage (hours per week) and connection type.

Because the sample is based on those who agreed to be invited to participate in the Harris Interactive online research panel, no estimates of theoretical sampling error can be calculated.

About Harris Interactive

Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research that is powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit www.harrisinteractive.com.

About RetailMeNot

RetailMeNot is the web’s leading consumer destination for online coupons, discounts and promotional codes for merchandise, travel and services. RetailMeNot is an online community that posts, uses, recommends and ranks over 70,000 online discounts and promotions at more than 13,000 retailers, including Amazon, GameStop, Banana Republic, Macy’s, J.Crew, Target and Victoria’s Secret. RetailMeNot’s mission is to help consumers save money and enjoy a hassle-free discount shopping experience online. RetailMeNot, a division of Stateless Systems, is located in Melbourne, Australia.

www.RetailMeNot.com is a registered domain of Stateless Systems. All other domains, names and trademarks mentioned herein are property of their respective owners.