Forget the stereotype of penny-pinching budget shoppers clipping coupons. SimplyCodes' 2024 Coupon Codes Sentiment Study reveals a surprising trend: affluent Americans are today's most avid discount hunters.
While more than 3 in 5 Americans actively seek promotions, markdowns, and coupon codes while shopping online, the wealthiest households are far more likely to be searching for those sweet discounts.
In fact, a staggering 89% of households earning $175,000-$199,999 actively hunt for promo codes, compared to just 53% of households in the $10,000-$24,999 income bracket. The data clearly shows: as income rises, so does coupon usage.
Economic pressures turning deal-hunting from recreation to requirement
Getting a good deal isn't just nice anymore—it's becoming essential. Over half (54%) of online shoppers report increasing their coupon code usage in the past year, driven by:
Economic factors like inflation and rising cost of living (74%)
General desire to save money (56%)
Personal circumstances including employment changes and family size (48%)
This shift represents a fundamental change in how Americans approach online shopping, with strategic saving becoming the norm across all income levels.
Gen Z, Millennials, and Gen X finally agree on something
When it comes to using promo codes, the generational divide largely disappears. SimplyCodes found remarkably consistent online shopping and coupon usage habits across different age groups.
The only significant difference? Young shoppers (18-29) are more likely to be influenced by promo codes, with 46% saying a discount code motivates them to shop at a particular store. This drops to 36% for shoppers aged 30-44 and 30% for those 45-60.
The evolution of savings
We've moved far beyond the days of scissors and newspaper circulars. Today's retail landscape is increasingly shaped by digital discounts for purchases both large and small. As economic pressures mount, savvy shoppers of all income levels are using strategic spending and saving to weather the storm.
Brands recognize this shift, issuing more promo code discounts to attract new customers and build loyalty in the competitive online market. Modern shoppers can leverage both community wisdom and technology platforms like SimplyCodes to ensure they keep more money in their pockets, regardless of income bracket.
Editor's picks
by Sean Fisher
Sean Fisher is an Editor at SimplyCodes, where he creates engaging, informative content for the SimplyCodes blog. With expertise in online shopping trends and consumer finance, Sean delivers valuable insights on saving money and finding the best deals. Sean's goal is to empower readers with the knowledge to make smarter shopping decisions and stretch their dollars further. Previously he worked at GOBankingRates and WebMD. He has a bachelor's degree from University of California, Santa Barbara.
