Survey: Use of online coupon codes surges among affluent Americans
More than half (54%) of all U.S. online shoppers say they have increased their usage of coupon codes during the past year.
That’s according to social savings and promo codes platform Simply Codes’s “2024 Coupon Codes Sentiment Study,” which found that 64% of Americans actively seek and use promotional, discount or coupon codes for online purchases. The study revealed a notable difference in behavior based on household income (HHI).
Households with incomes over $125,000 are more likely to actively seek and use discount codes while shopping online compared to households with incomes under six figures. The highest segment of consumers who say they use coupon codes while online shopping are in the HHI bracket of $175,000 to $199,999 at 89%. This is compared to only 53% who say they do in the HHI bracket of $10,000 - $24,999.
Other highlights from the report are below.
Other highlights from the report are below.
•The only notable difference between different age groups when it comes to online shopping habits and coupon code usage is that 18-29 year olds are more influenced by promo codes with 46% saying when they see a promo code for a particular store, it motivates them to shop there. This is compared to only 36% in the 30-44 age group and 30% in the 45-60 age group.
•Nearly 70% of respondents said they are more included to hit the “buy” button when they have a promotional code.
•Eighty-three percent of respondents agreed that they anticipate using promo codes while shopping online more frequently in the future.
•Clothing and shoes ranked as the product categories most frequently purchased online at 65%, followed by personal care, body care and cosmetics (53%) and food, groceries and beverages (46%).
•More than half (54%) of all U.S. online shoppers say they have increased their usage of coupon codes during the past year, with the leading reason being economic factors, the desire to save money and personal circumstances such as changes in employment status, income and family size.
“Online coupon codes are playing an increasingly vital role in today's retail world," said Michael Quoc, CEO and founder of SimplyCodes. "As consumers face economic challenges, they use digital discounts to stretch their budgets and maximize savings. Brands see promo codes as a way to attract new customers and build loyalty."