You are here
LIVONIA, Mich. -- Despite their notoriously tech-savvy reputation, Millennials rely more heavily on print than most would expect, according to Valassis’ sixth annual RedPlum Purse String Survey.
Promotion-sensitive Millennials are getting their savings the same way as other consumers across all age groups and income levels, with 51 percent citing newspapers as their first choice for savings.
According to the study, conducted in conjunction with National Coupon Month in September, the top five sources from which all respondents most often get their coupons and deals are: the newspaper, emails/coupon alerts, Internet searches, mailbox and retail circulars.
For Millennials, though, finding coupons and deals in-store exceeds their use of retail circulars by 4 percentage points, ranking it fifth. Regarding print sources, 33 percent of Millennials get their deals from the mail; 21 percent from retail circulars; and 20 percent from coupon books.
Despite their continued use of print, Millennials maintain their leadership of the digital trend. Over the last 12 months, 27 percent of Millennials used mobile coupons compared to 17 percent of the total.
Millennials also use their smartphones to a greater degree than the general population, with 45 percent accessing coupons in an email on their smartphone vs. 24 percent of the total; 41 percent accessing coupon codes on their smartphone vs. 24 percent; 36 percent comparing deals on their smartphone vs. 20 percent; and 32 percent downloading coupons to their loyalty cards compared to 20 percent.
“The RedPlum Purse String Survey results are somewhat counterintuitive from what you might expect based on what we know about Millennials,” said Lisa Reynolds, vice president of consumer engagement at Valassis, a direct mail media and marketing services company. “While they are heavy digital users, this group also embraces tried and true methods for savings, as much as any other age group.”
Grocery dominates across all respondents in terms of items consumers are most interested in, but even more so for Millennials, with 85 percent seeking grocery coupons compared to 78 percent overall.
“Consumers have become efficient deal-seekers and are achieving savings by clipping coupons, downloading them to their smartphones and sharing with friends in a variety of ways including across their social networks. It’s a new world,” Reynolds added. “The path they take to make their purchase decisions is varied and marketers are taking note to better engage and activate consumers wherever they plan, shop, buy and share.”
Valassis’ RedPlum Purse String Survey is based on insights from more than 5,100 respondents.