Do consumers still care about coupons? It’s a big question for marketers, brand managers, ecommerce developers and, of course, online shoppers. Let’s look at the latest research and developments in traditional and digital coupons. Forrester Research shows coupon redemption is booming with 66 million digital coupons redeemed in 2013, up 141%. According to Luxury Daily, millennials are driving new interest in coupons. Juniper Research forecasts retailers will deliver an impressive 1.6 billion coupons a year by 2020.
Mobile Commerce Daily predict 96% of consumers will search for a digital coupon in 2016. Got a holiday gift card you won’t use? CardCash.com will buy it at a discount. A Target and gift card exchange website Cardpool program will also buy your unused gift card. A CouponDunia study says ecommerce in India will reach $16.3 billion by the end of 2015 while coupons total 13.5% or $2.2 billion. Emarketer reported coupon use topped 5 billion in 2012. With the expected growth of digital coupons in the next five years, retailers and marketers should be planning to take advantage of strong consumer interest and adoption.
Forrester Research, Inc. Report: Count On Contextual Coupons
Coupons are a frequent arrow marketers pull from their quiver, but with the help of mobile technology and mobile wallet, this incentive marketing tool becomes even more effective. Many of our customers have turned their physical and online coupons into living, breathing mobile content with Vibes’ help.
Today, our friends at Forrester Research, Inc. published a new report for B2C marketers, “Count On Contextual Coupons,” that reveals a number of fascinating findings. Some of our favorite takeaways included:
– Coupon redemption is skyrocketing. In 2013, 66 million digital coupons were redeemed — a 141% increase from 2012. Via vibes.com
How digital coupons attract the ultra-mobile, millennial customer
Now, people often read their news online instead of in a newspaper and more consumers are connected almost constantly through their mobile phones. While the medium may have changed, one thing remains the same: people are still looking for ways to save money.
The act of clipping printed coupons may be passé, but the use of digital coupons is exploding. In fact, more than 31 billion digital coupons will be redeemed this year, almost double the 16 billion redeemed in 2014, according to Juniper Research. Via luxurydaily.com
Beacons to deliver 1.6B coupons annually by 2020: report
Coupons are quickly growing as a significant component of beacon-enabled proximity marketing thanks to strong redemption rates, with brands and retailers forecast to deliver 1.6 billion coupons a year by 2020, according to a new report from Juniper Research.
The results point to how proximity marketing is gaining traction as retailers look to engage more deeply with consumers in and around their stores, prompting the volume of beacon-enabled coupons to grow quickly from the 11 million expected to be delivered in 2015. However, the research also underscores the potential danger of turning beacons into nothing more than another offer channel, which is likely to cause shoppers to lose interest. Via luxurydaily.com
For Digital Coupons 2016 Will Be An Exciting Year
According to Mobile Commerce Daily, nearly all mobile users will search for a digital coupon in 2015. Citing a recent survey, the report predicts that about 96% of all mobile users will search for coupons this year to find the best deal and the greatest value when shopping online. In a recent discussion with CXOtoday, Kulpreet Kaur, Co-founder, Shop Pirate Coupons explained: “A shift between desktop to mobile shopping was noticed due to increasing use of smartphones, tablets and broadband and 3G/4G internet availability.”
Ecommerce has grown 10 times since last year and have become $40 billion industry now which makes it one of the most promising industries in India. “A shift to buying online continued at rapid pace and mobile devices redemption through variety of devices is influencing this trend. 59% stated that digital coupons and coupons codes influenced their buying emissions compared to other means of promotions. No one likes to lose out on a deal.” Via cxotoday.com
Dont want that gift card you got? Trade it in for cash.
Let’s say, for example, your well-meaning aunt bought you a $100 gift card to Omaha Steaks. But you’re a vegetarian. You can go to CardCash.com — which, with $100 million in annual revenue, is one of the largest online gift card exchanges — and receive $70 in return for the gift card. You simply type in the gift card number, the pin number and the card’s value.
After that, the site verifies the card’s balance. If everything checks out, you can get paid through PayPal, with a check or a direct deposit to your bank account. Or, if you’d like, you can opt for a gift card to another merchant, such as Dell or CVS.
The site determines the going rate based on supply and demand for any given retailer. “A gift card to Wal-Mart or a gas station will get you a great value, something like 93 cents on the dollar,” said Elliot Bohm, co-founder and chief executive of CardCash, based in Brick, N.J. Via washingtonpost.com
Target wants your unwanted gift cards
If you are a coffee-hater with a Starbucks gift card, you may be in luck. Target is buying unwanted gift cards, albeit at a reduced price. There are fees taken out during the exchange, and the trade-in values vary. One example provided by Target: A $100 Walmart (WMT) gift card would exchange for an $85 Target gift card.
Target (TGT) is partnering with gift card exchange website Cardpool and electronic trade-in company Nextworth for the program. Cardpool provides the trade-in rate of consumers’ gift cards and then re-sells them. A card from a big-box store is likely to have a higher exchange rate than a more regional establishment, but the rates vary with demand, according to Patrick Ramsey, general manager of Cardpool. “You often find that grocery stores, gas stations and the mass merchandisers…will often have some of the higher prices closer to the face value.” Via money.cnn.com
Couponing trends in 2015: How often do you use your coupon for discounts?
CouponDunia shared a report on the shopping trends using coupons in 2015. The study witnessed distinct shopping insights gathered from e-commerce websites and platforms on how, consumers extensively used coupons to save tons of money.
According to the report, the Indian e-commerce market is set to reach $16.3 billion by the end of 2015 while the couponing business has achieved a 13.5 percent of the total e-commerce audience of India. This percentage roughly accounts for an approximate $2.2 billion of the business this year. Let’s take a look at some of the interesting insights on shopping trends witnessed in 2015 and the role of couponing in e-commerce industry.
95 percent of buyers are reportedly searching for deals online and 75 percent among them search coupons via couponing portals respectively. This turns out to be a rather surprising number as the report stated that 95 percent of buyers search for deals online which simply means Google is a prominent source for coupons. Considering that 75 percent users search for coupons via couponing portals indicates that the coupons available don’t necessarily fulfil all shopping needs online. Via tech.firstpost.com
The Return of Digital Coupons: Are Coupons Still Relevant this 2015?
Not only has the coupon survived the transition to electronic form (Target department stores and craft store giant Michael’s both have dynamic e-coupon programs). They have exploded in availability and identity through social media resources like Facebook and Twitter, as customers are offered additional discount opportunities by joining — and promoting — the store’s consumer programs as well.
Are these programs going away anytime soon? Mobile phone coupon use topped 5 billion in 2012, and is expected to have more than doubled last year. (Emarketer) Via huffingtonpost.com
Our coupons part of your promotion strategy for 2016? We’ll keep you up-to-date on the latest trends, new technologies and research in the months ahead.
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