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Rise of the coupon-snippers

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Rise of the coupon-snippers

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Published by Max Salsbury for 24dash.com in Communities and also in Finance

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UK shoppers' appetite for coupons increased by 35% in 2013 compared to the previous year.

According to coupon experts Valassis Ltd, coupons and vouchers worth £1.7 billion were redeemed last year.

The average household redeems coupons and vouchers worth approximately £64 a year.

Valassis' figures - which works with 85% of the market - show that coupon redemption is continuing its upward trend, with volumes increasing by 223% since 2010.

Retailer-issued coupons are driving most of the growth and account for 71% of redemptions, or 466 million coupons.

Charles D’Oyly, managing director of Valassis, said: “The 35% increase in coupon redemptions in 2013 is exceptional. Bearing in mind that retail sales in 2013 grew by just 1.6% compared with 2012, such growth is remarkable.

“The recent increases in retailer-issued redemptions are primarily due to the popularity of coupon-at-till promotions and price matching promises which mean the consumer would not have been able to buy certain items as economically elsewhere.

"What’s behind this growth? Our recent research indicates that consumers’ use of coupons is widespread across all demographics[3], and supermarkets have responded accordingly by increasing their use of coupons as the promotion of choice for targeted consumer offers."

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