Survey: Shoppers turn focus to saving money
Austin, Texas -- Survey results by coupon site RetailMeNot revealed Monday that the vast majority of consumers believe that saving money is important.
According to the Shoppers Trend Report, conducted by The Omnibus Co. for RetailMeNot, 93% of consumers say they believe that saving money in their everyday lives is important. The survey also found that 61% are saving about the same or more money per month than they were five years ago.
"Consumers are emerging from the Recession of 2008 having learned a valuable lesson, that saving money is a good thing," said Trae Bodge, RetailMeNot. "Gone are the days of racking up our credit card bills with retail therapy and shopping with abandon. Today's consumers have higher expectations for what they can do with their hard-earned paychecks. They also want more for their money and are willing to take the necessary steps to ensure that they get it."
Compared with five years ago, nearly half of respondents are spending less on meals at restaurants (49%), expensive groceries (44%) and new clothes (46%).
Reliance on discounts is stronger today, with more than half (51%) of consumers who use coupons stating that they use them more than they did five years ago and 37% stating that they use coupons more than they did a year ago.
A majority of respondents (74%) state that economic factors contributed to their increase in coupon usage over the last five years, either because their personal finances declined (43%) or because the recession made them more conscious about the importance of saving (31%). Additionally, 23% of respondents indicate that they use coupons more now because technology makes it easier to find and use them.