Digital Media A Source of Deals
Results from the survey show that mothers turn to digital media to find coupons at a far greater rate than the general population. They are 70% more likely to download coupons from retailer websites or from couponing sites (both at 39% vs. 23%), and 65% more likely to download coupons from manufacturer websites (38% vs. 23%). Mothers are also roughly twice as likely to use social media sources to get coupons (22% vs. 10%) and to visit online deal sites (20% vs. 11%).
Most mothers are also looking to save money by shopping at multiple stores to find the lowest price, while 4 in 10 are adjusting their shopping schedules to make larger trips at the beginning of the month when more cash is available.
More Consumers Making Shopping Lists
Other data from the study suggests that consumers in general are making more of an effort to find the right match of product and price. 71% of shoppers in Q1 2012 indicated that they are making shopping lists at home, up 6% from 67% in Q1 2011. In addition, the proportion choosing stores based on lower prices offered rose to 56%, marking a 7.7% increase from 52% a year earlier. And 62% of shoppers in Q1 2012 reported looking at store circulars before entering the store, compared to 56% in Q1 2011.
Millennials Suffering from Economic Downturn
The SymphonyIRI study suggests that consumer sentiment regarding personal finances is on the decline. For example, just 28% of consumers in Q1 2012 expect improvement in their personal finances in the coming year, down from 33% in Q1 2011. And the proportion expecting their situation to deteriorate rose from 20% to 26% during that period.
Millennials might be among the hardest hit by the economic downturn, according to survey results from WSL/Strategic Retail. Data from “Moving On 2012″ indicates that 1 in 4 18-34-year-olds say they do not have enough money to cover their basic needs, compared to 17% of 35-54-year-olds and 13% of those aged 55 and over. This concern is impacting the way Millennials shop, too: 4 in 5 believe it is important to get the lowest price on most things they buy, while 3 in 5 are likely to choose a lower priced brand over their usual one if they can save money. Similarly, 57% are making a point to search online for discounts before shopping, and 63% are sticking to brands and stores they can afford.
About the Data: WSL/Strategic Retail conducted its survey online from December 1-12, 2011. The survey included 1,950 respondents drawn from a nationally representative online sample.