Promotions have a significant impact on consumers' shopping habits, from what and where they buy to whether or not they abandon shopping carts, according to a recent RetailMeNot study. In fact, 91 percent of shoppers reported that promotions trigger their in-store purchases.
"Research continues to reiterate the positive impact that promotions have on both consumers' decision-making processes when considering a purchase and in helping retailers achieve their revenue goals," said Michael Jones, senior VP of retail and brand solutions at RetailMeNot. "By leveraging RetailMeNot's marketplace platform, retailers win by increasing customer loyalty, building brand affinity and driving incremental sales both online and in-store."
According to the November 2014 findings, conducted using Google Consumer Surveys, of online shoppers who use promotions, 82 percent sometimes, frequently or always consider promotions when planning what items to buy and 81 percent sometimes, frequently or always consider promotions when planning where to shop.
Digital coupons top the list of promotions that influence shoppers to make a purchase. In fact, as many as 59 percent of customers say digital coupons have more sway than any other retail promotion strategy.
In addition, promotions trigger 74 percent of in-store shoppers and 66 percent of online shoppers to plan a trip to the store several hours, days or weeks in advance to making a purchase.
Promotions also help to reduce shopping cart abandonment. The survey revealed that 78 percent of those that abandon carts have sometimes, frequently or always looked for a promotion before abandoning their cart over the past year and 68 percent have sometimes, frequently or always used promotions to return to an abandoned cart to complete a purchase.
Finally, promotions positively affect consumer loyalty after a purchase. Sixty-eight percent of shoppers are more likely to be loyal to a brand that offers online coupons or promotions. The same percentage will tell a friend about a company that uses promotions and 50 percent are more likely to buy a product later from that same company.
Promotions are especially important as holiday seasonal shopping has begun. Nearly half of consumers, 46 percent, planned to start their holiday shopping before November and one in four planned to have it all completed by Black Friday, according to a recent RetailMeNot "Shoppers Trend Report."
-See this RetailMeNot press release
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