Shoppers are clearly looking to save on groceries,” said David Rochon, cofounder and CEO of SavingStar. “But even more importantly, they are looking to do so easily, without the hassle of using paper coupons.
Waltham, MA (PRWEB) July 26, 2011
SavingStar, the only national paperless grocery coupon service, announced it reached 500,000 users 3 months after the service went live. SavingStar reached the milestone faster than Groupon which took 6 months, Foursquare which took 1 year, and Twitter which took 550 days.
Launched in April, SavingStar provides exclusive eCoupons for use at over 24,000 stores from more than 100 supermarket and drugstore chains nationwide. The eCoupons are linked to users’ store loyalty cards with nothing to clip or print.
“Shoppers are clearly looking to save on groceries,” said David Rochon, cofounder and CEO of SavingStar. “But even more importantly, they are looking to do so easily, without the hassle of using paper coupons. It doesn’t get any easier than clicking eCoupons online or activating them on your smartphone with a few taps. ”
SavingStar also revealed new insights into how people shop and use coupons. Analyzing purchase data over the course of a year, SavingStar found that 55% of all shoppers buy less than 100 different products per year, while 70% buy less than 200, showing the challenge brands face when trying to get consumers to try their products. Surprisingly, 4% of people actually buy over 1000 different products per year!
A survey of 500 primary household shoppers conducted by Sentient Decision Science on behalf of SavingStar reveals that it’s not just moms who value coupons - men and younger shoppers are looking to save as well. Respondents also said that grocery coupons not only help them save a significant amount of money each month, but help spur trials of new products:
- 79% of men think grocery coupons are an important way to save money
- 70% of shoppers under 35 want grocery coupons on their smartphones
- Consumers with household income over $100k, save an average of $150 per month with grocery coupons
- Since the start of the recession, shoppers #1 way to save on groceries is through coupons, beating other choices like buying private label, shopping at discount stores, and buying fewer items
- 85% of shoppers will try a new product if they have a coupon for it
SavingStar is the first and only national, fully digital, grocery coupon service, available for free at Savingstar.com and on iPhone® and Android® mobile apps. The company enables consumers to choose where they shop and how they save on food coupons. Providing exclusive eCoupons redeemable at over 24,000 stores, SavingStar’s eCoupons are linked to shoppers’ grocery and drugstore loyalty cards and offer a more convenient and eco-friendly way to save on groceries than paper coupons. SavingStar automatically adds the value of each eCoupon redeemed into the user’s SavingStar account, enabling them to pick their payout from cash back to gift cards to charity donations. SavingStar also powers white-labeled grocery coupon services, including Upromise and Cartera Commerce. SavingStar is backed by Flybridge Capital Partners, First Round Capital, and other investors. The company is based in Waltham, MA.