Steadfast FinancesHigh Income Consumers Love those Groupons

High Income Consumers Love those Groupons

Filed in Bargain Hunting , Frugal Living , Saving Money 4 comments

Who uses Groupons?

Rich people. That’s who!

Okay, maybe not just rich people, but you may be surprised to learn that people who make major bank ($100k+ annual salary) are the heaviest users of daily groupon email alerts.

Then again, it should be no surprise at all that young people who make a lot of money want to keep as much of it as they can. So when they see a good bargain, either from a coupon/groupon or they’ve developed a preference for secondhand merchandise, they the pounce on it to avoid paying retail prices.

After all, folks like these didn’t pull all nighters in college to get a killer GPA or work 60+ hours a week at their small business to just give away their disposable income. These days, they want the most bang for the buck as possible.

What is surprising, at least to me, is that nearly half (48%) of all Groupons are being used by more affluent consumers ($70,000+). That’s several percentage points higher than traditional coupon super users, where 39% of affluent consumers ($70,000+) cut coupons the old fashioned way.

I guess frugality really is the “new black”.

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Posted by CJ   @   12 March 2010 4 comments
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4 Comments

Comments
Mar 12, 2010
2:14 pm
#1 Laura :

A lot of the Groupons I see are tailored to those with higher incomes in my opinion. Most of the ones I see are half off at a salon, spa, teeth whitening, more upscale restaurants, etc. For someone who might use these services anyway, it’s great, but I would expect that to be someone with more disposable income. I wonder if the numbers by income vary when it’s more of an “Everyman” Groupon, such as a $10 for $25 deal to an inexpensive restaurant, which is one of the Groupons I signed up for recently.

Mar 12, 2010
2:28 pm
#2 Matt SF :

That’s an excellent observation. Going back and looking at a few recent emails, I see something of a trend developing there.

Perhaps it’s because those disposable income dependent businesses were hit hardest by the Great Recession or “new frugality” movement.

Mar 14, 2010
4:03 am

Laura, great point. I think you hit it on the head with that one.

A lot of special offers on stuff you don’t need.

Matt, how’s life? Hokies going anywhere in the March Madness tourney?

Mar 14, 2010
3:03 pm
#4 Matt SF :

Yeah, most of the Groupons rank pretty high in the disposable income department.

Hokies are still trying to get into the tournament! Nothing set in stone yet, although, I suspect they’ll squeak in based on ACC reputation.

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