Blame It On the Economy...Everyone Else Is

The poor U.S. economy just can't catch a break these days. It's been blamed for everything from corruption in corporate America (AIG, anyone?) to keeping Americans at home watching "Mad Men." And now, the economy is being blamed for an increase in coupon use.

Wakefield, Mass.-based Prospectiv recently polled 1,386 shoppers, finding that 72 percent of consumers are using more coupons than ever before. The study also uncovered the following:

-81 percent of shoppers use coupons for groceries.
-80 percent would be likely to increase coupon use if they were more accurately tailored to their interests, and delivered online.
-87 percent would be more likely to shop at a retailer that offered coupons.
-47 percent found print and online coupons equally convenient, with 9 percent preferring online coupons.

While this information is all fine and good, it has to be taken into context with the current upheaval over the U.S. economy. The study cites that the economy is behind this recent surge in coupon usage. And truth be told, once things quiet down--like they always do--consumers will be back to viewing coupons as a value statement. When the economy is going great, people spend more and worry about saving less. When there is mass hysteria about the economy, people tighten up and start clinging to coupons as though they might save them from financial ruin.

Another interesting result from this survey was that consumers found print and online coupons to be equally convenient. Frankly, I would prefer to receive my coupons in the mail--no ink waste, no printer drama, no hassle. They're printed and ready to go. With our technology-crazed society, online coupons might be more convenient to receive, but they are a much bigger pain to use. I can't tell you how many great coupons I've received from Barnes & Noble that I inevitably deleted from my e-mail inbox, simply because I never got around to printing the darn things out.

When we boil it all down, what is this survey really telling us? It seems like it's another indication that retail must be willing to fluctuate with the times. There isn't some magical formula to being a raging retail success beyond paying attention to customer needs. If consumers feel safer with coupons right now, then coupons they shall receive. And trust that when things start booming again, there will be little need.

What are your thoughts on the increase in coupon use--is it really the economies fault, and are retailers right in responding to the demand? Leave your thoughts here!

--Heather Strang