How student discounts affect brand sentiment among college students
Student discounts are at the core of our business here at Student Beans, and we’re passionate about offering students special offers on the brands they love, and the products they want and need. Our latest research into the consumer habits of the US student demographic reveals how they feel about student discounts, and what they’d like to see more of in future.
Students perceive brands more positively if they offer a student discount, as it shows they appreciate their custom. It can also convince this value-driven audience to jump ship, and choose your brand over a competitor. 83% of college students would choose to buy from one retailer over another because they offer a student discount.
Usage of student discounts
78% of college students use student discounts
30% use them at least once a week
48% use them at least once a month
Most college students already use student discounts regularly, and actively check for them before making a purchase. Our focus group said they Google for discounts every time they buy something online, but find promo code websites irritating as the discounts are often outdated and no longer available. They welcomed the idea of a student loyalty platform like Student Beans, which has official partnerships with the biggest youth brands, and discount codes they can rely on.
Students hear of discounts through word of mouth, such as from their friends and classmates. They are sometimes advertised on campus or in store, but this subtle promotion leads to a lack of awareness. Brands who partner with Student Beans not only get their discount in front of their target audience, but ensure only verified students can benefit from it.
According to our survey, students prefer discounts which offer a specific amount of money off or a percentage off the price. They are less interested in buy-one-get-one-free or a free gift. A discount of 20% or higher will make them consider changing where they spend their money. In addition to the big name fashion and tech brands, they’d like to see more discounts from local shops, restaurants and activities, and on practical things every student needs like text books.
Students who use student discounts are the ideal audience for brands looking to reach the most valuable members of the student community. Our survey found that those who use them at least once a month shop online and eat out more often, and much more...
The typical student discount user
Is age 20 and studying for an undergraduate degree
Would choose to buy from one retailer over another if they offer a student discount
Loves Nike, Amazon, Forever 21, Apple and Starbucks
Shops online several times a week
Has bought clothes/accessories, tech/mobile and health/beauty products online in the past month
Eats out several times a week
Would eat out more if there were more or better student discounts available
Thinks Snapchat is fun and Instagram is cool
Has purchased something after seeing an ad on Instagram or a website
Takes at least one vacation per year, travelling by car or plane
Receives a scholarship or student loan
Gets extra income from their family and has a job
To find out more about the perks of offering a student discount, get in touch today. You can read our latest Student Shopping Report in full here.