Savings 101 - New Study Shows how Important Student Discounts are to today's College Students

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The University Network's 2012 College Student Survey reveals the significance that discounts play in student buying habits. This survey, which was administered during the 2011- 2012 school year, is a wake up call to local businesses that wish to attract students.

91% of students surveyed said they would try a new local business solely because they offered a student discount.

College students have always had tight budgets, and this especially holds true today. As tuition costs rise and outstanding student loan debt has surpassed $1 trillion, it may be of little surprise that college students would look to save money. What some may find surprising, however, is the extent to which college students rely on “student discounts” to save money. The study revealed that:

  •     80% of students frequently look for a discount online before making a purchase over $300.
  •     73% of students say they regularly look for restaurant student deals online.
  •     56% of students asked said they use some sort of student discount multiple times each month.

The TUN study not only sheds some insight into the mindset of today's penny-pinching students, but also provides guidance to businesses that wish to attract college students as customers. The survey found that:

  •     91% of students asked said they would try a new local business solely because they offered a student discount.
  •     94% of survey respondents said they would participate in more paid fitness and recreational activities if an online student discount were offered. When asked the same question about restaurants, 84% said they would eat out more often if local restaurants provided online deals for students.

The TUN survey also illustrates the role that deals play in building long-term brand loyalty. While national advertisers have long appreciated the role that student discounts play in building brand loyalty (i.e., Apple), the study shows that offering student discounts is equally important for local businesses. In this regard the study showed that:

  •     93% of students asked, stated that they would frequent a given local business more often if that business provided a student discount.
  •     72% of students asked said they would feel a sense of loyalty to a business after graduating if that business offered them a discount while in college.

For full details of this survey, email Survey(at)tun(dot)com.

About TUN.com
TUN.com is a series of hyper-local websites that connects students to deals and events around approximately 500 of the largest universities in the US. TUN.com’s map view for each university helps students locate easily the daily deals and discounts near them. Unlike the Groupon-type deal sites, TUN.com is not a middleman in the consumer-merchant relationship. Rather, TUN.com is an advocate for students that finds existing deals, and helps create new deals from merchants committed to helping students.

TUN.com has rapidly grown since its inception in 2010 when it became apparent that students would need all the help they could get to deal with the rising cost of higher education, the challenging job market, the dwindling resources available for parents to tap into, and the larger debt loads. Saving college students money is TUN.com’s core mission.

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Scott Goryeb
TUN.com
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