Students almost always look for a good deal, says survey

The Student Value Report, conducted by Vouchercodes.co.uk, found that 79% of students opted for a brand for the first time because it offered them a discount.

The report added that 87% of students check for a discount before making any purchases online.

The report’s findings suggest that a student discount can also create brand loyalty amongst a student audience, with 29% of students stating they are loyal to a brand which regularly offers student discounts.

This loyalty can last beyond graduation with over one fifth of students (23%) saying they think they will continue to shop with brands which run student discounts once they have finished their studies.

Angus Drummond, a senior director at Vouchercodes.co.uk, said: “These findings from our first student value report truly highlight how much value student consumers place on getting a good deal.

“With over 2.4 million university students currently studying in the UK, the revenue potential for brands who strike a cord with student consumers is extremely high, and it’s clear from our findings that offering students an attractive discount leads not only to sales, but boosts AOV [average order value], as well as increasing LTV [lifetime value] potential by creating brand loyalty early in the consumer lifespan.

“As students return to university this September for a year that is set to be more normal and less restricted due to Covid, brands looking to make the most of this valuable customer base should consider running a student discount programme to tap into this huge potential.”