$1 Billion in Savings Targeted in 2009
Mountain View, Calif. – February 2, 2009 – With the economy driving more shoppers to search out savings, interest in online coupons has spiked, helping spur record growth for Coupons.com in 2008. The world leader in digital coupons more than doubled the amount of savings printed from the site and helped more than 38 million consumers print coupons. The Company also drove innovation in the printable coupon market with key product developments and partnerships.
“We believe shoppers will continue to seek out savings everywhere they can find them as the economy further tightens in 2009,” said Steven Boal, CEO of Coupons.com. “With local newspapers struggling, many consumers will lose access to their Sunday coupons. As a result, household brand name companies are increasingly looking to deliver savings to those consumers online. Our goal in 2009 is to bring coupons to as many digital platforms as possible so that consumers can readily find savings in these difficult times.”
On the consumer front:
• In 2008, the amount of savings printed during the year grew 140% from $131 million to $313 million.
• Over 38.6 million people used online coupons in 2008, according to Simmons Market Research Bureau.
• The number of people who only use online coupons (do not clip newspaper coupons) grew 51%, according to Simmons Market Research Bureau.
• According to a recent poll, 61% of consumers in America report using more coupons now than ever before in their lives. 78% of Americans are using coupons to avoid changing their lifestyles or cutting items from their shopping lists.
• Coupons.com remains #1 amongst all sites in the Coupons/Rewards category, according to Nielsen NetRatings.
On the brand marketing front:
• AdAge magazine called online coupons one of “the Bright Spots in 2009″ and reported, “According to ComScore, coupon sites were the fastest-growing online category in November by traffic, up 32% from October to 35.6 million.”
• Coupons.com launched Brandcaster, the industry’s first content relevant promotion serving network, now appearing on thousands of websites.
• Coupons.com announced the results of the first Printable Coupon Consumer Pulse Survey, providing unique industry insights about coupon clippers.
• The redemption rate for Coupons.com coupons remained approximately 17% on average vs. less than 1% overall for newspapers.
On the business front:
• Coupons.com’s digital FSI network added well-known retailers such as Safeway.com and Kroger.com.
• The Company expanded the reach of printable coupons to include social networks through the launch of a Facebook application, television through the acquisition of CouponBug, local coupons through a Money Mailer partnership and mobile phones through a Yahoo! partnership. The Company recently acquired GroceryIQ, the number one selling lifestyle application for the iPhone, and intends to coupon enable the shopping list application in early 2009.
• Internationally, Coupons.com printable couponing technology was launched in eight new countries, bringing the total to 14 including the United States, Canada, The United Kingdom, France, Spain, Italy, Germany, Belgium, The Netherlands, Sweden, Denmark, Finland, Norway and Australia.
• Coupons, Inc. received the 2008 Red Herring North America award as a top technology innovator.
• The Company expanded its management team, hiring Brian Weisfeld as COO and Steve Horowitz as CTO. Weisfeld formerly oversaw operations at Westcon Group and IMAX Corporation and Horowitz led Google’s engineering team that built the Android mobile operating system and platform.
Coupons.com is the premier savings site on the Web, with more than 14 million unique monthly visitors according to Compete.com. The average consumer can save more than $2,000 a year using coupons printed from Coupons.com and the Coupons.com network. The site carries offers from hundreds of top brands, (such as Johnson & Johnson, General Mills, Kimberly-Clark, Kraft Foods and Clorox) and works with hundreds of retailers (including Kroger and Safeway). Coupons.com also provides recipes, a Facebook application and savings advice from Family Savings Expert Kim Danger. Coupons.com was launched in 1998 by Coupons, Inc. and is based in Mountain View, California. To learn more or start printing coupons, visit www.coupons.com.