I get asked this question often. Most people assume that lower income families, the ones who are really scraping to get by, are the most frequent users. Study after study, we are finding this is not the case.
Not surprisingly coupon usage has increased during the recent recession. In the last quarter of 2008, coupon usage increased 16.7% compared to the last quarter of 2007 (source). Also during 2008, 3.3 billion coupons were used, up 27% from 2007. It was the largest annual percentage increase since people started tracking these numbers twenty years ago (source).
In the first quarter of 2009, only 32% of homes in the US reported no coupon usage at all (source). Using coupons is becoming an American pasttime. But who are these coupon using people?
The average coupon user is female, under 54 and lives in the burbs. But here is the kicker- the average household income of a coupon user is $70,000 a year. Granted $70,000 in Manhattan doesn’t get you the same kind of life as $70,000 in Omaha, Nebraska but it’s still a good chunk of change to live on.
I think coupons are just another example of how the rich stay rich. Warren Buffet lives in a house he paid $31,000 dollars for and drives an old truck. And I bet he uses coupons.
If the third richest man in the world got that way by being frugal, it’s a band wagon I am happy to jump on!