Coupon Usage - COVID19

Goals

Data on coupon usage during a recession, whether people are willing to try new products during a recession, how the nature of shopping has changed, and whether or not coupon distribution has diminished via mail.

Early Findings

  • During a recession, the disposable income of consumers tends to reduce, which means they have less to spend. As a result, these consumers seek more ways to spend less money. One of the ways they spend less money is by using coupons.
  • According to CNN, the rise in coupon use "started in October 2008 as bailouts and layoffs consumed the United States, leaving households frustrated and looking for ways make ends meet. "
  • As the 2008 recession was coming to an end, Americans "cashed in 3.3 billion coupons in 2009, a 27% jump from the previous year."
  • This dramatic increase in coupon use was fueled by the recession, the popularity of shopper-friendly sites, the launch of coupon sites like Groupon (launched in November 2008), and the easy availability of coupons in general.
  • By 2010, newspaper coupons accounted for the majority of coupon distribution at 89%, while online coupons increased by 92%.
  • An article published by USA Today on April 28th revealed that while more US consumers are trying to use coupons to save money, some stores have stopped taking paper coupons to prevent the spread of COVID-19. This means the use of digital coupons is surpassing paper coupons.
  • Major grocery stores in the US are now only offering digital coupons on their websites or mobile apps.
  • A study by People Magazine revealed that 81% of US consumers are open to "sampling new brands and products than ever before" due to the COVID-19 pandemic.
  • As described by People magazine, "empty store shelves mean some consumers aren't finding their favorite brands in stock, but participants said they are not surprised they can't find their favorite everyday household brands, and are willing to try new products."

SUMMARY

  • Our initial research focused on how coupon usage increased during the 2008 recession and Americans' willingness tto try new products due to the current COVID-19.

Proposed next steps:

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