Americans look for savings more than consumers in other countries
August 21, 2013

With the back-to-school shopping season in full swing and small and medium-sized businesses anticipating strong holiday sales, investing in loyalty and gift card programs is a smart move for many retailers. Consumers value being given opportunities to save by participating in loyalty initiatives and taking advantage of daily deals. In fact, a recent survey from digital coupon site RetailMeNot.com found American consumers use more coupons and look to save money more often than their international counterparts. 

Conducted by research firm Ipsos Public Affairs, the survey asked more than 10,000 consumers in 11 countries, including the U.S., Canada, China, Australia and several European countries, about their shopping habits. The survey found 53 percent of participating U.S. consumers value coupons for both essential and nonessential items. Canada was not far behind, with 52 percent saying the same. Half of U.K. respondents also agreed. 

American consumers were also eager to discuss their coupon habits, with 48 percent saying they are proud of their frugality. 

According to Fibre2Fashion, a B2B network for members of the textiles industry, back-to-school shopping highlighted consumers' growing dependence on savings afforded by coupons. Many consumers are seeking value in lower prices during the shopping season. The website reported a National Retail Federation survey found 7 in 10 U.S. consumers use coupons and take advantage of sales. Another 42.8 percent said their spending during back-to-school shopping was influenced by retailers' sales and promotions at least half of the time, which is up from 38.5 percent in 2012.

Although the economy continues to recover, U.S. consumers may still look for savings once the economy returns to pre-recession norms. SMBs should consider investing in loyalty and gift card programs and promote their acceptance of multiple payment methods to ensure shoppers understand they can receive top value. Coupon use is set to stay high for the rest of the year, and it's a good idea to take advantage of the increased sales that come with consumer coupon use.

Nexus: G-WEBCD3