Digital coupons have a large impact on purchasing decisions. In fact, as many as 59 percent of customers say digital coupons have more sway than any other retail promotion strategy.
Sixty-eight percent of consumers strongly believe that digital coupons have a positive impact on a retailer's brand, and the same percentage said these coupons generate loyalty, according to a collaborative study conducted by RetailMeNot (NASDAQ:SALE) and Forrester Consulting. Results of "The Impact of Online Coupons and Promotion Codes" prove that digital coupons are as relevant as ever as retailers delve into ominichannel strategies.
"This new Forrester study reiterates key findings from a similar 2011 study, while highlighting how digital promotional strategies are driving, and will continue to drive, meaningful positive impact on retailer sales through both e-commerce and in-store channels as mobile commerce grows," said Jill Balis, senior VP of marketing, RetailMeNot. "How we research, plan and shop is evolving beyond the e-commerce site to include our mobile phone and tablet, yet the basic premise of coupons has remained the same. A great offer can drive incremental revenue, reduce shopping cart abandonment and result in happy repeat customers."
In addition to remaining loyal, 47 percent of shoppers said they would try a new brand if offered a digital coupon. And for those thinking about buying, 80 percent of respondents said a digital coupon could potentially close the deal on an undecided purchase.
In addition, an estimated 55 percent of customers using coupons on smartphones will spend more money during an online or in-store visit—at least an additional $25. As many as 17 percent will spend an extra $50.
The digital coupon industry is rapidly growing. In spring, a Valassis Shopper Marketing Report showed that 92 percent of millennials download a digital coupon before heading out to a store.
-See this ReailMeNot press release
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