As the recession barrels on, bargain businesses are seeing strong growth. One of those is the field of online coupons, which has seen tremendous expansion as consumers tighten their purse strings.
In the past few months of the economic downturn, searches for discounts and deals have risen online. Starting in January, 54% of consumers polled by ComScore classified online couponing sites as important to their shopping process. More than half of consumers say they are using coupons more often than even just a few months ago. 31% are using onilne coupon sites. That’s an increase of 25% according to Hitwise. In July, searches for generic coupons were up 172% from the same time last year and searches for retailer-specific coupons increased 34%.
We caught up with Savings.com CEO Loren Bendele to discuss the coupon resurgence this year and where it’s headed online.