Business News
Valassis Releases Findings on Consumer Behaviors and Motivations for Seeking Savings and Value
Monday 29. September 2008 - Valassis (NYSE:VCI), one of the nation's leading media and marketing services companies, revealed insights that define today's primary household budget manager and the motivations behind savings behaviors.
In addition to tough economic times, the thrill of savings and a sense of community are just some of the motivations learned during recent consumer research focus groups with women between the ages of 25 to 54 with household incomes over $50,000.
There are both rational and emotional insights that truly resonate with today’s savers and together build a profile of our target consumer’s mindset. Rationally, saving on staples helps them liberate their budget to spend on other things they really want, particularly spending time with their family. Many see managing the household budget as their job, even more important to those with children and in today’s challenging economic environment. Emotionally, participants indicated they felt smart while looking for coupons and deals. Getting the best deal for their family motivates them to do so. Happiness, success, power, relief, winning, confidence and caring are emotions associated with saving as revealed in the focus groups.
“People are very passionate about savings and value and like to talk about it,” said Suzie Brown, Valassis Chief Marketing Officer. “We’ve all had an experience when we found a great deal and couldn’t wait to share the story with a friend or family member. Not only do consumers like to brag about their finds, they truly enjoy the thrill associated with saving money and see it is as playing a game, making them feel more powerful. This consumer research provides a glimpse into the hearts and minds of our target consumers and how they’re spending, saving and relating these savings activities to caring for their families.”
Consumer research indicates big-ticket purchases require substantial research driven by household budget and the level of complexity. Electronics, appliances, furniture, autos and trips top the list of more expensive items that require planning. When seeking big-ticket purchases, participants said the Internet is central to finding value. Redplum.com, a savings and lifestyle site launched earlier this year, provides consumers local and national deals and offers. The site also features original, weekly editorial articles on parenting, fashion, beauty, dining, home, yard, entertainment, pets, autos, electronics, healthy living and money.
Couponing and deal seeking have become time-honored rituals that save Americans nearly $3 billion annually. According to the Promotion Marketing Association’s (PMA) Coupon Council, spending just 20 minutes a week taking advantage of coupons and special offers can save consumers up to $1,000 a year or more.
“Based on what we’ve learned from our research, I have never been more confident than in today’s tough economy that RedPlum is relevant to today’s consumer,” Brown added. “RedPlum is a leading provider of consumer-oriented deals and savings on brands consumers want most and provides the savings they seek with ease and convenience, which is important to today’s budget manager.”