December 10, 2008
Use of online coupons soaring
U.S. online coupon services are getting a boost from the economic downturn, with a 22 percent rise in their use from this time in 2007, research shows.
An analysis by Simmons Market Research Bureau indicates 38.6 million American consumers will use online coupons this winter, with online services such as Coupons.com, RetailMeNot.com and CoolSavings.com being the biggest winners, USA Today reported Wednesday.
With the holidays here, the economy slumping, consumer confidence down and headlines screaming layoffs, we're seeing coupon clicks soar,Steven Boal, who heads of Coupons Inc., told the newspaper. His company is the world's largest Internet coupon distributor, boasting such clients as General Mills, Kraft Foods and Pillsbury.
Boal said Coupons.com has doled out $50 million in savings via coupons printed from its Web site last month, more than double May's total, with online shoppers saving an average of $40 to $50 per week, or $200 per month.