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Study: Millennials, Gen Xers prefer mobile coupons over paper

Millennials and Gen Xers prefer to use mobile technology to redeem coupons, according to the results of Vantiv's latest ShopTalk survey.

Vantiv contracted Socratic Technologies to survey 500 consumers about their experience and preferences redeeming offers, as well as their use of digital assistants, according to a press release about the results.

The survey found that 22 percent of all consumers questioned prefer mailed coupons compared with other methods, while only six percent of millennials prefer this method. Overall, younger consumers are using a wider range of ways to redeem offers. Instead of traditional mail, 24 percent of millennials and 18 percent of Gen Xers prefer scanning a QR Code from their mobile phone, compared with 5 percent of Baby Boomers.

"With mobile payments adoption on the rise, merchants are searching for new ways to keep customers coming back," said Tony Rose, director of mobile product management at Vantiv. "One way merchants can increase brand loyalty is with offers such as mobile coupons and loyalty programs, but most merchants don't know how to use these programs because they don't know their customers' preferences. We believe merchants would best be served to invest in new technology such as putting smart targeted offers and coupons into mobile wallets where they are organized and transmitted automatically, offering not only environmental benefit but a much more convenient consumer experience."

Millennials and Gen Xers are also the most likely to share promotions with their family and friends, especially through social media, according to the survey. The ShopTalk survey shows millennials and Gen Xers (43 percent) are more likely than Boomers (12 percent) or retirees (3 percent) to share promotions through Facebook. Millennials are most likely to share promotions through email compared with other generations.