Americans are using coupons to save money

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 3, 2010 -- Americans are using coupons to save money

Three in five Americans (60%) say they’re trying to stick to a budget more this year than they were last year. In an exclusive consumer survey done to understand budget shopping habits, Over half of people in all income groups are trying to budget their money more than they did in 2009.

Economic struggles from rising food and energy prices to declining home values to spiraling consumer debt are seriously impacting peoples shopping habits. This coming retail season, we expect many people to tighten their purse strings even more, spending more consciously than they have in the past. Retailers need to recognize, empathize and quickly react to consumers need to budget their holiday gift and entertainment dollar.

Young adults and women are most likely to be budgeting and looking for savings across the board. While young adults tend to always look for the cheapest product possible more than older adults, women of all age groups are more likely than men to practice budgeting behaviors such as using coupons and reading newspaper sales fliers.

People’s budget shopping habits differ from store to store. The way that shoppers look for a deal in one store is often very different from how they try to save money in another. Retailers who understand the nuances of budget shopping will best be able to give people the deals they’re looking for this holiday season Four in five female survey respondents (85%) say they buy more online with free shipping, while 64% of 18-24 year olds say they always look for the cheapest product available online.
In mass merchandise stores like Wal-Mart, two-thirds of shoppers (67%) always look at sale items before non-sale items. Also, 59% of 18-24 year olds always look for the cheapest product available. Mass merchandisers may be able to catch the business of affluent shoppers as they "trade down" to cheaper retailers.

Helping shoppers understand value, while continuing to cater to their specific needs, should provide the best solution for retailers looking to glow this holiday season.

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