Are coupons actually going out of style?

Coupons have always been popular in American culture, but how are they evolving for younger consumers in the digital age? The Sum takes a look at the changing landscape of coupons and provides tips to save money.

TO SUM IT UP

• Couponing has been an integral part of American shopping for decades.

• With Millennials and Gen Zers doing most of their shopping online though, traditional print coupons are quickly becoming a thing of the past.

• However, the coupon itself isn’t disappearing; it’s evolving to fit a whole new generation that spends more time online.

THE BACKGROUND

• Nowadays, 90% of all consumers use coupons in some form or another.

• In particular, the number of global mobile coupons is expected to increase 56.5% by 2025 compared with just five years prior.

• That said, the number of paper coupons have shrunk in recent years, especially in the pandemic as people do more purchasing from their phones and computers.

WHAT’S HAPPENING

• Paper coupons may slowly be slipping away, but digital coupons are all the rage.

• Digital discounts come in a number of different formats. These can include shopping codes via social media or email as well as standalone promo codes.

• There are even special apps and browser extensions that specifically help digital shoppers mine websites for coupon codes.

WHY IT MATTERS

• Digital couponing could become more and more popular with young people as inflation continues to creep up.

• The way Millennials and Gen Zers look at saving money will differ from how older generations used print coupons at brick-and-mortar stores.

• There are concerns that Baby Boomers and Gen Xers may struggle in the coming years as the industry moves to a digital-first approach.

SOURCES

• Axios: Paper coupons are dying but you can still beat inflation
• TIME: The History of Coupons
• netimperative: Gen Z shopping trends: deals and authenticity driving decision making
• Retail Dive: How digital coupons attract the ultra-mobile, millennial customer
• Valassis; Orian Research: Is Couponing Dead? How Millennial and Generation Z Customer Behaviour is Affecting Discount Shopping

READ MORE ABOUT THIS IN THE SUM

The Sum breaks down complex economic issues and how they impact your life in just a few minutes a day. Follow thesum.news on Instagram for the full story.

This story was originally published August 19, 2022 at 4:03 PM with the headline "Are coupons actually going out of style?."

The Sum

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The Sum breaks down complex economic issues and how they impact your life in just a few minutes a day. Follow @thesum.news on Instagram for the full story.