Although the use of coupons is a money-saving method that is sometimes associated with women, both sexes benefit from the savings tactic. However, despite the fact thatmen and women may be on equal footing when it comes to making shopping decisions, there are some significant differences in the ways they shop. Men are more likely than women to research a purchase, a new survey found, and this often translates into coupon usage.
While they are not as heavy of coupon-users as many women are, the study by Jacobs Media found that nearly a quarter of men (23.8 percent) used coupons frequently and nearly half (44.7 percent) use them occasionally.
"The last thing agencies should do is limit their sales opportunity due to stereotypes that aren't relevant today," said Paul Jacobs, vice president and general manager at Jacobs Media. "In the 21st century, men are emerging as an incredibly valuable component in the marketing mix. They make purchases on their own, and have significant input in the decision-making process in the majority of households. And single men are a bonus. Advertisers ignore men at their own peril, opening up opportunities for competitive products and brands."
When it comes to big-ticket items, the study found, 59.1 percent of men considered themselves either the sole or key decision-maker in the household, compared with 55.7 percent of women. Even for items under $500 such as clothes, electronics and entertainment 69.2 percent of men were the sole or key decision-makers.
But advertisers may be turning a blind eye to this important marketplace dynamic, eMarketer reported. An October 2010 Yahoo study showed that dads felt ignored by advertisers, despite their increased role in household shopping. The lesson for marketers is clear: start paying attention to more than just women when it comes to advertising.
- Deal or No Deal: Are Coupons Good for Business?
- Gender, Income Big Factors in Internet Buying Behavior
- Digital Coupons Bring in New Users, Transform Marketplace
Reach BusinessNewsDaily senior writer Ned Smith at email@example.com. Follow him on Twitter @nedbsmith.