Coupons & Credit Cards Interview with KOMO Radio Seattle
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Monday, November 2, 2015 with KOMO Radio Seattle about the November 2015 Coupons & Credit Cards survey. The interview and transcript are below.
Interviewer: You know, of all the ways to get discounts these days, good old fashioned paper coupons are alive and well. And, according to a new survey by CreditCards.com out today, a favorite with most American shoppers. Matt Schulz, Senior Industry Analyst with CreditCards.com on the KOMO News Line to explain why.
Matt Schulz: Well, surprisingly enough, we found that about two thirds of American card or debit card holders said that they method that they use most often for redeeming coupons is just using paper, whether it’s clipping out of the Sunday paper, or getting mailings, or what have you.
Interviewer: And that’s as opposed to having these discounts maybe loaded on their credit card or their shopping card that they have, a card with a supermarket?
Schulz: Yeah. Exactly. There are so many other digital options or electronic options out there that it’s really kind of surprising to see so many people still kind of couponing old school.
Interviewer: Well, there is something sort of rewarding, this hide and seek kind of thing, when you’ve gone through the paper looking for the coupons and you click them out. I guess maybe that has something to do with it, a little bit?
Schulz: Yeah. And I also think that Americans are creatures of habit and these sort of things that have been done for decades, take a long time to die out. And I think that things will change over the next five, ten years. The coupons are definitely here and still strong, right now.
Interviewer: Now I know in my situation, our supermarket, we have their app, and we can download the coupons automatically, just click a button, say yes, and it goes onto the advantage card that we use. Do you think that is going to pick up over time, that that’s the way we’re headed?
Schulz: Yeah. I do think that we will see our apps and smart phones become much more valuable as couponing tools, ’cause I think that retailers and banks, both, have really high hopes for digital coupons as a way to create a lot of customer loyalty.
Interviewer: And I guess the bottom line is, no matter how you do it, if there’s something offered that will save you money, you should take advantage of it, don’t waste it.
Schulz: Yeah. Absolutely. If you see a coupon that’s a good deal, whether you clip it our of the paper or whether you show it to somebody with your phone, it’s always a good deal, because people who are on a budget or living paycheck to paycheck, every little bit counts.
Interviewer: So Matt, are there certain people who are more likely to use coupons than others?
Schulz: Well, what we found was that the poorest and the youngest among us were most likely to say that they never used coupons of any kind. And that’s really unfortunate, because it means that the folks in our society who probably have the greatest need are missing out on the chance to save some real money.
Interviewer: Millennials aren’t big on coupons, huh?
Schulz: No. [Laughs] Well, they’re certainly not buying newspapers. That’s been well established. And it might just be a cost thing, that not buying the newspaper. And it’s hard to pin it down, but it’s definitely the case where they are not clipping as many coupons as others are.
Interviewer: Very, very interesting stuff. Matt, thank you so much.
Schulz: Yep. Sure thing. We’ll talk to you next time.
Interviewer: Matt Schulz, Senior Industry Analyst with CreditCards.com.