Approximately 99% of US adults are aware of rising food prices, according to a new survey conducted by Harris Interactive and commissioned by Coupons.com. The vast majority (95%) plans to employ at least one savings strategy at the grocery store as a result,
Coupons Most Popular Cost-cutting Activity
The survey found that incorporating coupons was the most popular planned activity to offset rising food prices, cited by nearly three-quarters (72%) of respondents. This strategy was followed by other cost-cutting actions, including comparing unit prices of package sizes (71%) and shopping at discount grocery stores (66%). The study also identified other popular planned behaviors, including stocking up when items reach rock-bottom prices (64%) and buying in bulk (57%), among others.
7 in 10 Will Compare and Save
About seven in 10 (71%) of all US adults plan to compare unit prices to help offset 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.
Higher Education, Higher Savings
Better educated adults are particularly aggressive in their cost-saving strategies. Adults with college degrees are not only 53% more likely to plan to use coupons than those without high school degrees (78% compared to 51%), but they also plan to use other savings tactics more frequently, including being 26% more likely to compare unit prices (83% compared to 66%) and about 48% more likely to buy in bulk (62% compared to 42%).
Men, Women Save Differently
Men and women plan on taking different approaches when it comes to saving money on food, according to the study. Compared to men, women are 18% more likely to use coupons to offset rising food prices (78% compared to 66%). They are also 12% more likely than men to compare unit prices of package sizes (75% compared to 67%) and 13% more likely to stock up on goods when they reach rock-bottom prices (68% compared to 60%).
Consumer Interest in Digital Coupons Rises
Representing more than 16% of the US population, more than 49 million American consumers are now using online coupons, up about 9% from 45 million in 2009, according to other recent data from Coupons.com. Of the 49 million online coupon users, almost one-third (14.8 million) has not read or looked into the Sunday newspaper within the prior six months, a 13% increase from 13.1 million in 2008.
Research also indicates 73% of all US shoppers have used online printable web coupons to date. Furthermore, reflective of trends in the consumer vernacular, internet queries for coupons and related terms increased significantly on search engines during the year. Specifically, searches on Google for “Digital Coupons” and “Printable Coupons” increased 200% and 170%, respectively.
About the Data: 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 US adult population.