MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Rising costs of food are giving Americans sticker shock at the grocery store, and consumers are responding by getting crafty with their saving strategies.
Approximately 99% of U.S. adults are aware of rising food prices, and the vast majority (95%) plans to employ at least one savings strategy at the grocery store as a result, according to a new survey conducted by Harris Interactive® and commissioned by Coupons.com.
The survey found that incorporating coupons was the most popular planned activity to off-set rising food prices, cited by nearly three-quarters (72%) of U.S. adults. This strategy was followed by other budget-stretching actions, including comparing unit prices of package sizes (71%) and shopping at discount grocery stores (66%). The study also identified other planned behavior, including stocking up when items reach rock-bottom prices (64%) and buying in bulk (57%), among others.
“Food prices are expected to continue to rise this year to potentially all-time highs. Couple that with flat incomes, and increases in pricing of basic items such as food is like taking a pay cut,” said Steven Boal, CEO of Coupons.com Incorporated. “Fortunately, consumers are savvier than ever when it comes to stretching budgets, and it’s great to see that so many of them will take matters into their own hands when it comes to mitigating the effects of higher food costs.”
Compare and Save. 71% of all U.S. adults plan to compare unit prices to off-set rising food prices. College graduates are significantly more likely to employ this tactic than those who attended or completed high school or attended some college.
Education Counts. Better educated adults are particularly aggressive in their cost-saving strategies. Adults with college degrees are not only significantly more likely to plan to use coupons than those without high school degrees (78% vs. 51%), but they also plan to use other savings tactics more frequently, including comparing unit prices (83% vs. 66%) and buying in bulk (62% vs. 42%).
Battle of the Sexes. Men and women plan on taking different approaches when it comes to keeping more money in their wallets, according to the study. Compared to men, women are more likely to use coupons to off-set rising food prices (78% vs. 66%). They are also more likely than men to compare unit prices of package sizes (75% vs. 67%) and stock up on goods when they reach rock-bottom prices (68% vs. 60%).
“No one wants to let rising food costs nickel and dime them. With a wealth of coupons and other savings strategies out there, it’s easy to keep these rising prices in check,” said Jeanette Pavini, Coupons.com household savings expert. “The truth is, with a little advance planning and smart-shopping strategies, anyone can effectively manage grocery costs – without compromising on the food and goods they need for their households.”
About the Survey
This survey was conducted by phone within the United States by Harris Interactive on behalf of Coupons.com from March 4-7, 2011 among 1,010 adults ages 18 and older. Results were weighted to reflect the U.S. adult population. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Brandy Bartels or Patrick Crisp.
About Coupons.com Incorporated
Coupons.com Incorporated is the recognized leader in digital coupons, including online printable, save to loyalty card and mobile promotions. For consumers, the company’s products include Coupons.com, the 62nd largest Web property and No. 1 in the Coupons/Rewards category in the U.S. †, as well as Grocery iQ and Coupons.com mobile applications. For brand marketers, the company distributes digital coupons to millions of consumers through Coupons.com and thousands of Web sites comprising the Coupons.com digital coupon network. The company also powers digital coupon initiatives in 1-to-1 online marketing campaigns—including display advertising, email and social media programs. For publishers, the company offers solutions to monetize Web site traffic, including branded microsites, and Brandcaster, a self-service coupons syndication platform. Clients include hundreds of top consumer packaged goods brands (including Clorox, General Mills, Johnson & Johnson, Kellogg’s, Kimberly-Clark, and Kraft Foods), leading restaurant, toy and entertainment companies, as well as top retailers (such as A&P, CVS, Duane Reade, H-E-B, Kmart, Kroger, Safeway and Walgreens). Founded in 1998, the company is based in Mountain View, CA. To start printing coupons, visit www.coupons.com. To learn more about the company visit www.couponsinc.com. Visit Coupons.com on Facebook at www.facebook.com/couponscom.
† Nielsen, February 2011
About Harris Interactive
Harris Interactive is one of the world's leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers expertise in a wide range of industries including healthcare, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris specializes in delivering research solutions that help us – and our clients – stay ahead of what's next. For more information, please visit www.harrisinteractive.com.