AUSTIN, Texas, Oct. 1, 2014 /PRNewswire/ -- RetailMeNot (www.retailmenot.com), a leading digital offers destination that helps consumers save money, today released a co-authored research paper in partnership with Dr. Jason Abrevaya, Ph.D., economics department chair at the University of Texas at Austin. The study uses consumer survey information conducted by Kelton Research, RetailMeNot data and other third-party research to examine how deal and offer websites and apps are reshaping the holiday retail experience. The full paper is available at: http://retailmenot.mediaroom.com/holidayhaul.
Some of the findings of the research paper include:
"Our research helps illustrate that U.S. consumers have meaningful savings opportunities when using digital offer sites and apps like RetailMeNot during the busy holiday shopping season. Five billion dollars in savings helps consumers buy that extra gift for their family or helps them afford to take a trip home to spend the holidays with loved ones," said Jill Balis, senior vice president, RetailMeNot, Inc. "Ten minutes of using RetailMeNot.com could result in $34 in savings or nearly $200 in savings per hour. Add our free RetailMeNot app into the mix and the savings potential only continues to grow online and in-store."
"When you combine the clear popularity of deal and offer websites and the evidence on savings, the implied overall savings in the billions of dollars is pretty staggering," said Jason Abrevaya, economics department chair, University of Texas at Austin. "Our evidence clearly indicates that consumers have also found other benefits to these websites, like saving time and purchasing better items."
For more information on the study, check out this recap on The Real Deal by RetailMeNot.
View this infographic that helps tell the story of the holiday savings haul that consumers can take advantage of in 2014.
About Dr. Jason Abrevaya, Ph.D.
Economics Department Chair, University of Texas at Austin
Dr. Abrevaya's research has focused on econometric methodology, applied microeconomics and demography. His research has been funded by the National Science Foundation and the Robert Wood Johnson Foundation. He has taught econometrics and statistical analysis to undergraduates and graduate students for nearly two decades.
Dr. Abrevaya received his doctorate in economics from the Massachusetts Institute of Technology and received a bachelor's in applied mathematics from Harvard University.
The Omnibus survey by Kelton Research was conducted between August 6 and 11, 2014, among 1,007 U.S. residents ages 18 and over, using an email invitation and an online survey. Quotas are set to ensure reliable and accurate representation of the entire U.S. population ages 18 and over. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. The margin of error for any subgroups will be slightly higher.
The internal data reported by RetailMeNot on how much consumers can save during the holidays by using RetailMeNot.com includes an analysis of thousands of savings reports filed by consumers during the months of October to December 2013, and time spent on-site by those consumers seeking out those deals. Savings per purchase is a review of those savings reports during the last 12 months.
RetailMeNot.com (http://www.retailmenot.com) is a leading digital offers destination that helps consumers save money. Since November 2006, our users have shared hundreds of thousands of offers from retailers. These offers are voted on by users, ensuring that quality deals rise to the top and those that are expired drop down the list. RetailMeNot.com is operated by RetailMeNot, Inc., the world's largest marketplace for digital offers. Consumers can save more at their favorite stores by downloading the RetailMeNot App at http://www.retailmenot.com/blog/rmn-whats-new.html.
We're out to save the world (some money).™ Consumers can follow RetailMeNot on Facebook, Twitter, Pinterest and Google+ by visiting http://www.retailmenot.com/corp/websites.
About RetailMeNot, Inc.
RetailMeNot, Inc. (http://www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers from their favorite retailers and brands. During the 12 months ended June 30, 2014, RetailMeNot, Inc. experienced more than 625 million visits to its websites. In 2013, RetailMeNot estimates $3.5 billion in its paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. Its mobile apps have been downloaded over 18.5 million times. The RetailMeNot, Inc. portfolio includes RetailMeNot.com, the largest digital offer marketplace in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk, the largest digital offers marketplace in the United Kingdom; Deals.com in Germany; Actiepagina.nl, a leading digital offers site in the Netherlands; Bons-de-Reduction.com and Ma-Reduc.com, leading digital offers sites in France; Poulpeo.com, a leading digital offers site with cash back in France; and Deals2Buy.com, a leading digital offers site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit http://investor.retailmenot.com.
SOURCE RetailMeNot, Inc.