The Valpak Annual Consumer Savings Report Indicates consumer spending will increase 28 percent this summer from last summer due to home improvement plans, response to high gas prices and increased coupons for summer deals.
The direct marketing company's survey found that the adjusted spending habits, driven by coupons and private label purchases, illustrated the importance finding a deal is to consumers. But 32 percent of consumers plan to spend more this summer on home improvements, more than a 30 percent increase from last year. Two out of three consumers say gas prices affected how they made purchases, and 40 percent of consumers search for coupons before leaving the house. Another effort to cut costs involved one third of consumers switching to generic brands and taking longer and fewer trips to stores.
Not only are they looking for coupons, but 41 percent of consumers said they search online and mobile applications for coupons as well. This indicates a demand for direct marketing advertisements targeting specific consumers.
CouponMole, a coupon website, has reported tremendous growth recently, yet another example of consumers expecting deals and promotions this summer. The site partners with businesses and allows consumers to browse and find the right discount. CouponMole collaborates with 5,000 stores listing more than 56,000 deals and discounts.