From clipping to clicking – new research looks at the future of coupons
Cross posted from the Google Commerce Blog
For a generation, clip-and-save coupons in freestanding newspaper inserts (FSIs) were the norm for shoppers. But with the introduction of downloadable, print-at-home, and digital coupons in recent years, shoppers today have a whole new array of options to receive and redeem better, more relevant discount offers — whether at home or on the go. Internet marketing research firm eMarketer estimates that mobile coupon users will grow to 53.2 million by 2014.
Zavers by Google, the digital coupon solution that delivers relevant discount offers to shoppers on their desktops and mobile devices, completed a study with Shopper Sciences to dive into the current state of couponing, the potential of digital and mobile couponing, and to provide guidance in developing a strategy for the future.
The Zavers study found that while women and moms have traditionally been the typical coupon user, men are quickly catching up — now representing about a third of all coupon users across all categories.
Millennials also signify an expanding segment of the digital coupon market. According to our research, Millennials are more likely to use a mobile device to receive a percentage-off discount than any other age group. Millennials are also more likely to embrace digital solutions that help them manage coupons and offers.
Finally, our studies revealed that more than 40% of shoppers have left a retail store without purchasing because they knew they left a coupon at home. 54% percent of shoppers said that the ability to load digital coupons to a loyalty card or personal identifier (such as a smart phone) was “very” or “extremely useful.” The data suggests that consumers value the ability to easily access their coupons whenever and wherever they are.
There are three key things that retailers and manufacturers can do to create a winning couponing program in the digital age:
1. Recognize the Zero Moment of Truth (ZMOT) — the moment when a shopper is searching online for products and information — as a key opportunity for delivering relevant and tailored coupons.
2. Set up cloud-based redemption and reconciliation so coupons can be tracked and cleared in real time and promotions can be evaluated and adjusted quickly.
2. Set up cloud-based redemption and reconciliation so coupons can be tracked and cleared in real time and promotions can be evaluated and adjusted quickly.
3. Understand your customer purchase habits and reward your best customers with motivating incentives.
Preview the below to learn more about the Zavers by Google coupon study, or download the complete white paper.
Posted by Jenny Liu, Product Marketing Manager, Zavers by Google
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