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NEW YORK Cash-strapped consumers have been turning more to coupons and deals, no matter where those deals are, in the past year. So it’s not surprising that there are more coupons than ever for them to “clip.”
But the actual number of coupons hitting the market last year isn’t the only metric that was up. Average face value of the coupons reached a new record level of $1.42, according to Marx Promotional, an increase of 6.5% compared with 2008. So not only were there more promotions to be had, those promotions delivered greater value than they had in past years.
According to NCH Marketing, a company that measures coupon activity, coupon redemption increased 19% in the first half of 2009, compared with the same period in 2008. And if that trend continued, that suggests retailers should have seen a slight jump in foot-traffic and a corresponding increased opportunity in impulse merchandising. NCH Marketing utilizes Marx Promotional data in its annual report on coupons.
To help mitigate the actual cost of delivering a greater number of FSI promotions at greater value, the amount of time a coupon was active decreased 3.9% to an average 9.3 weeks.
“These trends indicate that manufacturers are delivering more offers of greater value to the consumer, but are managing their financial exposure by reducing the length of time that these offers are available in the market,” Marx Promotional wrote.