In this jittery economy, coupons for health and wellness are particularly valuable right now.
“Consumers don't want to leave their preferred brands,” said Brian Ross, general manager at Precima, a Toronto-based firm specializing in consumer insights.
Shoppers have been able to take advantage of significantly deeper discounts because small and large companies alike are dropping coupons offering markdowns on single units, instead of multiples, and they're spreading the allowances far and wide.
“It's almost helpful right now to have a higher-priced product, because consumers who are using coupons see the discount as more of a limited-time value,” said Matthew Saline, chief executive officer of Mambo Sprouts, a wellness marketing and promotions company in Collingswood, N.J., where coupon distribution has increased 20% during the past six months.
Like consumers, manufacturers are treating couponing more seriously than they might have prior to the recession, according to David Wilkes, president of Universal Marketing Services, a clearinghouse in Hollywood, Fla.
“Manufacturers who asked for updates every few months now want weekly updates,” he said, adding that redemption rates, in general, have increased close to 20%.