Couponing has now become an overwhelming craze dominated by the increase in digital media and mobile. Though the Sunday newspaper still holds 90% of all available coupons, digital coupons are rising to an all-time high, which is driven by millennials. “For the rising generation of deal hunters, coupons are an almost ubiquitous part of life online,” Bloomberg reported. Websites like Groupon and RetailMeNot have grown immensely as millennials have become increasingly interested in having mobile coupons at the palm of their hands.
The average couponer is between 25 and 44 years old, with millennials making up half the regular users (The Krazy Coupon Lady). The recent obsession with digital couponing might be attributed to the student loan debt crisis that has motivated millennials to look for deals. “A new point of validation to the theory that millennials are financially savvy and deeply conservative is a finding that they love coupons,” reported the Huffington Post. Coupons impact millennials’ entire buying-decision process. Some 9 in 10 millennials say they use some kind of coupon, print or digital, for products they already would have been buying (Media Post).
While couponing remains an ongoing behavior in today’s consumer marketplace, individual coupon value is declining. The average face value for coupons has gone down a dime since 2015. But with an estimated 31 billion digital coupons to be redeemed globally by 2019, their declining value will not stop millennials from saving money. Using coupons is again becoming commonplace, with less social stigma attached to it. While the use of coupons may never reach the heights of the past couponing era, with savings-savvy mindsets and brands always looking to attract new customers, couponing is evolving with the times.