As Economy Dips, Kids Clip Coupons Too
Times are tough for families. Mom and dad are constantly droning on and on about the dreaded “B” word: budget. But kids, being kids, still want stuff.
So what are those crazy kids doing? They’re getting proactive about helping the ‘rents find and clip coupons, according to a new study from CoolSavings.com.
For brands and advertisers, this means an opportunity — and a challenge — to create kid-friendly coupons, while at the same time keeping the head of household engaged.
The survey found that 84% of parents are discussing saving and budgeting with their kids, and 80% reported that their kids are aware of the bad economy and its impact on family finances.
To make matters worse: The reason is bad news; from a kid’s perspective: 70% of parents said they cut back spending on their children. Thirty-four percent are trimming spending from entertainment, followed by restaurants and clothes (both around 16%).
Thus, the urge to clip. Nearly 60% of parents said their children are couponing, with 18% of that group using the discounts for entertainment, 46% for groceries, 22% for restaurants 5% for toys and 9% for clothes.
“Families are changing behaviors in this market with couponing and researching for savings no longer a parents-only concern — it’s actually a family activity,” says Matt Wise, president and CEO of Q Interactive, CoolSavings’ parent company. “Based on what we are learning, we may see the emergence of a whole new generation of clippers.”
DID YOU KNOW
ACCORDING TO THE GMA-DELOITTE REPORT, THE GREEN SHOPPER …
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is diversely spread among all income ranges, age brackets, education levels and various household sizes.
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is on average older with a higher income and more education, but can be found across the consumer population.
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is older and more educated than the average consumer
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represents a high value segment that buys more products on each trip and visits the store more regularly.
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is less price-sensitive than the average shopper and generally not a bargain hunter.
