Brick-and-Mortar Stores Still a Destination for Savings
By Jack Grant
Value-seeking consumers fervently want coupons and deals – even if it means making a trip to a physical store. That’s one of the key insights from the 2018 Valassis Purse String Survey based on a survey of more than 6,000 shoppers.
The top three categories of interest for savings are groceries (93 percent); dining out/restaurants (68 percent); and healthcare items (62 percent). Non-traditional categories of interest for coupons and deals include travel (33 percent) and prescription drugs (20 percent). Consumers are looking to save on medications, and offerings such as RetailMeNot RxSaver are helping them compare prescription prices at local pharmacies.
“Understanding what consumers want ‘right now’ is crucial for a successful marketing campaign,” said Curtis Tingle, Chief Marketing Officer, Valassis. “Shoppers have more options of how, when and where to shop than ever before. The retail landscape is forever changed and will continue to evolve as online retailers explore a presence in brick-and-mortar stores. The 2018 Valassis Purse String Survey aims to help brands and retailers better understand value-seeking consumers’ wants and needs to activate them.”
According to the Valassis survey, shoppers are more likely to buy from a grocery retailer that:
- Rewards their loyalty with personalized offers or discounts (83 percent – and 86 percent for both moms and millennials)
- Makes them feel like a valued customer (67 percent)
- Safeguards and protects their privacy and personal information (58 percent – 61 percent for baby boomers)
- Provides a consistent experience no matter where/how they interact (54 percent).
When shopping for apparel, shoes and accessories, 96 percent of value-seeking consumers currently shop in-store. Of those, 77 percent plan to shop in-store just as much in the next year, and 15 percent plan to do so more. The top reasons cited for shopping at a physical store instead of online include being able to see or touch an item in person (70 percent); the immediate need for an item (66 percent); and ability to use more coupons and offers in-store vs. online (65 percent).
According to the Valassis survey, virtual assistants are expected to play a role in how consumers save as the technology’s popularity increases. While voice-activated shopping is still relatively new, there’s an interest in utilizing it for savings opportunities. Of the 21 percent of respondents that own an in-home voice assistant device or smart speaker, 32 percent are interested in receiving coupons and discounts through those devices. This percentage is even higher among millennials (48 percent) and parents (42 percent).
The research continues to support the need for cross-channel campaigns, as they are more likely to inspire a purchase:
- 81 percent of respondents like brands to communicate coupons and offers in both print and online so they don’t miss savings.
- 74 percent said seeing an offer in both print and online captures their attention.
- 60 percent expressed that seeing an offer in both print and online makes them more likely to make a purchase.
The survey was fielded on redplum.com from May 15 through June 15, 2018. Findings are based on responses from 6,279 value-seeking consumers. This consumer survey has been conducted 10 times since 2008 with a focus on shopping and savings behaviors across a variety of product categories.