All Ages Welcome: 30% of Consumers Exclusively Prefer Digital Promotions
While inflation has significantly declined, concerns persist, and consumers are reacting to these concerns by looking for discounts or cutting back wherever possible.
Over 70% of consumers reported in a survey from Kroger's retail data science company 84.51° that they are looking for sales and coupons more often than before. What’s more, 59% report cutting back on non-essential items.
When looking at areas driving this discomfort, many reported unease concerning their current job situation, budget, credit card debt, monthly bills, and grocery prices, even though 63% of responders reported feeling comfortable with their current finances.
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One of the most significant drivers of unease was grocery prices, with 69% feeling uncomfortable about them. With this level of concern, consumers consider cost and promotions, location convenience, and rewards programs when deciding which grocery store to frequent.
Nearly three-quarters (74%) said a preferred retailer was conveniently located near their home or workplace. When selecting a preferred retailer, shoppers 35-44 consider frequent sales and discounts (72%) more than younger shoppers 18-34 (53%).
Digital Promotions
With so many shoppers focused on discounts and savings, many feel more comfortable relying on technology to secure those savings. On average, 30% of shoppers prefer to engage exclusively with digital coupons; it’s not an age thing, as the preference is broadly distributed amongst age ranges.
Most shoppers still primarily seek discounts and coupons through the retailer’s website or app, as well as through retailer emails and cashback apps. Those who prefer digital coupons often use retailer websites, email communications, and cashback apps to secure discounts, according to 84.51°.
In contrast, those who prefer physical coupons rely on newspapers, magazines, and retailer emails and websites to obtain discounts.
These price-conscious shoppers also consider rewards as a way to get more significant savings at the grocery store, preferring rewards programs that offer dollars off their groceries over delayed discounts and donations. Rewards like digital rebates, fuel-point-related discounts, and contributions to charity are less valuable than digital coupons and dollar or percentage discounts.
