As global and domestic factors continue to create an uncertain economy, many Americans are looking for ways to save when and where they can. And while shopping with coupons and discount codes is nowhere near a new phenomenon, in recent years, discount-hunting sites, like Rakuten and RetailMeNot, that help consumers find the best deals and save on purchases, have become an increasingly modern approach to penny-pinching.
Currently, among those aware of the sites, 52% of U.S. adults have used or plan to use them. And in the last six months alone, usage and intention have seen consistent growth.
According to the data, younger adults–who may be earning less and looking for a deal–as well as women–who tend to report doing the most shopping for their households–are the consumers most enthusiastic about discount- hunting sites.
Interestingly, current users are less price sensitive than intenders, despite being more “very concerned” over inflation. That said, it’s clear that both users and intenders have the current state of the economy on their mind.
It’s worth noting that online discount-hunting sites appeal to grocery delivery users, those who shop from specialty grocery stores/co-ops, and those who care about brand name products. This suggests that convenience and quality–and getting the best deals available for name-brand goods–may be important factors to those using these sites.
While some shoppers may turn to discount-hunting sites out of desire, others may turn to them out of need. Those who have lost their job as well as those earning $50k or less are the most likely to be users and intenders on these sites.
Clearly, the utility of discount-hunting sites has not been lost on the American consumer. With the recent rise in usage among young adults, women, and those experiencing potential financial difficulty, combined with concerns over inflation and a continued desire for brand name products, these sites seem to have found an angle that only looks to be gaining traction in the months ahead.