When economic times get tough, saving becomes a sort of game — albeit an essential one — for consumers. In other words, getting a good deal becomes a big deal. For brands, the question becomes: How do you catch the eyes of those consumers in hopes of winning some of each precious dollar they spend? Our survey points in one clear direction as 66% of respondents said, in light of the current economy, coupons and discounts are more important than ever to them. Vericast’s August 2022 coupon redemption data showed several months of elevated redemption rates, according to Aimee Englert, Executive Director, CPG Client Strategy. “This trend supports that consumers are on board and actively seeking savings to counteract the cost of gas and groceries specifically, and inflation in general.”It’s on brands then to make strong promotional offers that are meaningful — truly valuable to people — while delivering discounts in engaging and relevant ways. “Targeted, periodic savings offers such as coupons, rebates and sales will go a long way to keep consumers engaged,” Englert says.A recent Forrester Consulting study commissioned by Vericast suggested that marketers across multiple industries are already heeding this advice. Many respondents noted that their ad strategy for the coming year includes an emphasis on engaging promotions and discounts.
Coupons will be cool again