Two-thirds, 67%, of U.S. shoppers have made an online purchase solely based on finding a coupon and four out of five feel encouraged to shop for the first time with a brand if they discover an offer, making it clear that promotions drive digital sales.
In fact, these stats are even higher for millennials, as 69% of those surveyed by RetailMeNot said they cannot make a purchase without first searching for a deal or offer. And 48% of these consumers would avoid brands that do not provide offers.
According to Marissa Tarleton, chief marketing officer at RetailMeNot, today's consumers want to spend their money in the greatest way possible.
"We’ve long known the importance of coupons and deals in the shopping journey, but it was nice to be reminded that 80% of consumers we surveyed said finding an offer for a brand or retailer that is new to them would encourage them to make a first time purchase," Tarleton told FierceRetail. "That’s huge—it means four out of five people who have never before shopped at your store would be willing to do so if they had an offer or discount. With retailers looking for incremental customers, this insight is helpful in understanding that promotions and deals are one great lever to accomplish that goal."
RELATED: Digital coupon redemption jumps 67%
Findings reveal that offers and discounts do not in any way diminish the value of the brand. More than 65% of consumers said a great offer is more important than customers service and only 7% believe deals give them a negative influence of the brand.
"In fact, the data primarily shows just how great of an impact providing offers and discounts can have on a retailers’ bottom line; extending offers and discounts can drive prospective customers to shop with a brand, make the purchase, and even spend more than they originally planned," Tarleton said.
In addition, deals play a role in every step of the shopping journey. For example, 74% of consumers said offers are a top factor on deciding where and what to buy and 75% of those who have abandoned online shopping carts have done so due to issues with cost.
Specific to millennials, just over half said that they always search for a deal before making an online purchase, versus 40% of baby boomers. And 62% of millennials who use the RetailMeNot app do so while shopping in a brick-and-mortar store.