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.
To make coupons more accessible to offline shoppers, and increase the chances of driving customers into stores, multichannel retailers should also look at ways of using mobile coupons.
Mobile coupons can be effective for capturing shoppers who might be in the area, and since no printing out and forward planning is required, retailers can appeal to impulse shoppers more easily.