There has been plenty of talk about the benefits of coupons for online retailers, but a recent study underlines the benefits of coupons for offline and multichannel retailers.
The Compete survey finds that only around a third of coupons are redeemed online, so they offer a way to drive offline as well as online sales.
Significantly, the survey finds that customers using coupons are liable to spend more when they visit stores, whether online or offline. Users of coupons spent an average of $216 on their most recent shopping trip, compared with $122 for those without coupons.
There is also something around the psychology of coupon use that convinces customers to spend more. The survey suggests then coupons users, perhaps because they are looking for ways to use their discounts, are more open to product displays, in-store ads, and impulse buys.
Other stats from the survey:
- 91% of customers said they are more likely to make repeat purchases having used coupons.
- Shoppers using coupons reported higher levels of satisfaction with their shopping experience.
- 57% said coupons were crucial for sealing the deal, they would not have made the purchase without a discount voucher.
Graham Charlton is Editor at Econsultancy. Follow him on Twitter or connect via Linkedin or Google+.
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11:41AM on 29th June 2010
I totally agree that mobile coupons are key to multi channel, both for monitoring the success of the communications, by analysing the responses, and driving customers in store.
However this weill only work for major retailers if coupons and vouchers can be redeemed and authenticated at the POS and integrated into the epos systems - otherwise forget it.
There is only one company www.eagleeyesolutions dong this, and very well.
CGB
1:30PM on 30th June 2010
Love the stats. Thanks. Coupons are a great addition to an overall loyalty marketing program. I documented my thoughts on two brands, TGI Fridays and Stop & Shop who are doing a great job in this space: http://bluethundercreativegroup.blogspot.com/ Bed Bath and Beyond also use coupons effectively. I am constantly receiving coupons in the mail and they even accept expired coupons. It is just great business and it enhances my overall customer experience. Another model that companies like Stop & Shop have adopted involve customers opting-in to coupons that will appear their loyalty card and can be redeemed at check-out. It is a great way to keep the customer in control and have them decide what coupons they want and don't want. Coupons in the mobile space are very convenient. I recently had the opportunity to hear Shane Neman from Ez Texting speak (www.eztexting.com) and he reported many client successes with sms text messaging about offers for their clients. Bring on the coupons.
1:39PM on 30th June 2010
It's not just the fact that vouchers should be used , its understanding how they are used by savy shoppers and by the voucher code sites SEO and PPC. Savy shoppers know the value of sites like Quidco, myvouchercodes.co.uk and so on and just as the purchase descision has been made and the final long tail search has been done, a savy shopper will continue and do a final voucher code search for that product and hey ho - imminent purchase. If you run an affiliate programme, voucher codes are one of the key things your should add for your voucher code driven affilaites to use too. Liz Ponsford Affilaite Manager UK2.NET