Digital coupons can make or break a customer’s shopping experience. In fact, a study conducted by RetailMeNot and commissioned by Forrester Consulting found that of the consumers who had used digital coupons within a three month period, six out of 10 relied on them more than any other digital promotion tool, when it came to making purchasing decisions.
Why the Popularity?
Consumers have become genuine deal hunters in the wake of the recession. Coupons in digital format help save shoppers the time that’s usually spent clipping paper savings, not to mention being more environmentally friendly.
Most digital varieties are redeemed within days, and a whopping third of these coupons are redeemed immediately.
What Does It Mean for Retailers?
The reliance on retail cards, and the positive associations customers have with them, are helping to cultivate brand affinity and brand loyalty. This in turn makes brick and mortar stores a place where customers know they will be rewarded, earning perks and bonuses in exchange for the money they’re spending.
This motivational marketing tool can literally make the difference between a shopper abandoning their cart, or converting it into a sale.
Which Consumers Should Retailers Be Focusing On?
So who should retailers be reaching out to with digital offerings? The good news, according to Simmons Market Research Bureau, is that consumers using digital coupons represent a somewhat desirable group:
- They’re a younger demographic, more likely to live in households with children.
- They’re 35 percent more likely to have a household income of around $75,000 and up, compared to the general population.
- Digital coupon printers tend to be better educated, and are 17 percent more likely to have graduated from college or advanced education, compared to the general population.
The Benefits for Retailers and Consumers
- Convenience – customers don’t have to wait for the Sunday newspapers to clip coupons. They’re printing and redeeming rewards quickly, which means that feet are walking into stores more regularly, giving sales staff a good opportunity to upsell products while the customer is there.
- Metrics – brands can enjoy better tracking opportunities.
- Speed – digital gives retailers the opportunity to create offers with shorter lead times.
- Lower costs – retailers save on the cost of printing, passing that onto consumers. Retailers can also set a print limit per IP address, so customers only print a single coupon per person or household.
- Capture Demand – stores can use digital technology to take advantage of consumers who are searching online for particular brands or products.
- Higher redemption rates – by better targeting specific markets, redemption rates are improved.
Don’t Miss Out on These Advantages
Taking advantage of these key features will get more consumers into the store, and increase brand recognition.
Vision33 offers a fully integrated system to help your store manage digital coupons. Retailers can contact the dedicated retail team today, on (949) 420-3300, to discuss the unique needs of their business.