While the economy crumbles, more people are turning to online coupons to save money, reports The Wall Street Journal.  Online coupons currently account for 1% of all coupons offered nationwide — but redemption jumped 140% last year.

New technologies are accountable for the changeover from traditional coupon clipping; for example, several companies offer mobile coupons that can be redeemed in the store right from your phone.  In addition,  Stop & Shop and Giant Food have begun offering shoppers  handheld scanning devices that subtotal the bill and make a “ka-ching” noise when shoppers get offered a discount for an item similar to things they’ve bought in the past.

-Maria

Our social media-savvy client American Express OPEN, along with Count Me In for Women’s Economic Independence, the leading national not-for-profit provider of business resources and community support for women entrepreneurs, have announced the launch of the Make Mine a Million $ Business RACE (M3 RACE) – a year-long business growth marathon bringing together thousands of women entrepreneurs to network online and compete in a race to grow their businesses and create jobs in the United States.

The M3 RACE inspires women to challenge themselves and each other to realize their vision for the company and reach their revenue targets. Just like walk/run marathons, women can choose their own pace for their 2009 business revenue goal: $250,000, $500,000, or $1,000,000 or more. The Grand Prize winner will receive a $100,000 cash prize and a year of marketing, advertising and media opportunities.

By leveraging social networking and creating an innovative online business growth assessment tool specific to the needs and challenges of women business owners, the 2009 M3 RACE initiative will extend its reach to thousands of women across the country.

- Danny

McDonald’s announced this week that year-to-year same-store sales rose in the U.S. and abroad.  Forbes.com reports that the rise in sales is most likely due to the McDonald’s “low-price” formula – something very appealing to the masses during these difficult economic times.  Forbes compared McDonald’s place in the food industry to Walmart’s place in the retail arena – both are “the low-cost retailer of choice.”  Sit-down restaurants have already reported serious drops in foot traffic and the rise in fast food sales means that consumers are “trading down” for cheaper fast food fare.

McDonald’s has, thus far, proved to be “recession-resistant.”  Lets hope, for the Hamburglar’s sake, that the prices of sesame seed buns and pickles stay low!

-Cody

Harris Interactive and RetailMeNot.com released shocking data on consumer plans for the holiday buying season.  Nearly half (45%) of adults online plan to spend less money on gifts this holiday season because of the economy.  Fully 89% of online adults think coupons are a great way to save money, and about a third (35%) of those who will be spending less money on gifts this holiday season will use coupons.

Consumers are increasingly turning to the Internet to do their shopping: most online adults (83%) are willing to make online purchases. Of those who make purchases online, the most popular items include books (71%), music (62%) and electronics (55%).

The good news is coal prices are down so we can all still expect a lump in our stockings if we’ve been naughty.

-Cody

Over at her NYTimes.com Shifting Careers blog, career columnist Marci Alboher talks about the importance of social networking as a tool to keep up with your personal and professional network, especially during a sour economy.

She lists LinkedIn as the business networking standard, but also includes niche sites that cater to one’s industry or profession.

- Danny

Those in finance aren’t the only ones cleaning out their desks this week — Gawker Media is laying off 19 of its 133 editorial staff members, and suspending bonuses for next year. Valleywag was hit the hardest, and will now be run by just two bloggers.

—Alyssa