According to the Valassis annual Purse String Survey, millennials rely more heavily on print for their shopping behaviors than you might expect. With newspaper as their number one source for coupons and deals, these promotion-sensitive millennials are getting their savings the same way as all other consumers across age groups and income levels, with 51% indicating this print source is their first choice for savings.
|Millennials’ Sources of Coupons and Deals (% of Respondents 18-34)|
|Source||% of Respondents|
|Links from savings cites/blogs||
|Source: Valassis, September 2013|
All respondents most often get their coupons and deals from are the newspapers and emails/coupon alerts. For millennials, in-store exceeds their use of retail circulars by 4 percentage points to rank fifth. From print sources, millennials get their deals:
- 33% from the mail
- 21% from retail circulars
- 20% from coupon books
Over the last 12 months, 27% of millennials indicated they are using more mobile coupons compared to 17% of the overall findings. Millennials actually are using their smartphone to a greater degree than the general population:
- 45% access a coupon in an email on their smartphone compared to 24% of all respondents
- 41% access a coupon code on their smartphone versus 24%
- 36% compare deals versus 20%
- 32% download a coupon to a loyalty card compared to 20%.
Lisa Reynolds, Valassis Vice President of Consumer Engagement, notes that “… the survey results are somewhat counter intuitive from what you might expect… (though) heavy digital users… this group also embraces tried and true methods for savings… as any other age group… testament to… savings from both print and digital… “
Millennials share at the highest rate (90%) among all age groups:
- Word of mouth – 71% versus 56% of the general populace
- Social – 43% versus 29% with Facebook as their channel of choice accounting for 33% of their social sharing, 10% higher than overall findings
- Text – 30% versus 19%.
Looking for savings, 85% of millennials seek out grocery coupons compared to 78% of the overall findings, followed by clothing and dining out.