Millennials Save In All Channels

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Millennials Save In All Channels
Millennials Save In All Channels

Millennials love mobile, social media, and pretty much anything with digital flash. But does that change the way they coupon? According to Valassis Communication's latest "Purse String Survey," not really. Based off the findings culled from 5,100 respondents last July, 51% percent of millennials, like consumers in other age groups, tend to favor print coupons and deals. But what distinguishes millennial couponing habits, according to Lisa Reynolds, Valassis' VP of consumer engagement, is their tendency to share (90% of millennials) and their rapid uptake of social and mobile channels in conjunction with print media.

The most popular millennial sharing mechanism? Old-fashioned word of mouth. Seventy-one percent of millennials share their saving opportunities, compared to 56% of the general populace. Forty-three percent of millennials share on social media, compared to 29% of the general population. And 30% of millennials share via text, compared to 19% of the general population.

The most popular way millennials access coupons in the digital space is through email (45%) and smartphone coupon codes (41%). 

Reynolds notes that other age groups have also increased their use of digital mediums, just not at the rate of the millennial age bracket. Nevertheless, these findings emphasize the need for marketers to develop fully integrated marketing plans that comprise newer mediums like social, as well as more traditional print assets. “You can't rely on just one thing,” Reynolds says. “When it comes to offers and promotions, in particular, you're trying to reach an audience that's looking across media.”

This includes print, direct mail, and circulars. Among the millennial audience, 51% get print deals from newspapers, 33% get print deals from mail pieces, and 21% use circulars.

“What really stood out for us this year is that we hear a lot about millennials and how different their mind-sets are, but when it comes to promotions and being savvy shoppers, they use all the media available to them,” Reynolds says.

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