Consumer Behaviour Shifting to Incorporate Coupon Search
Hampshire, UK – 2nd September 2014: A new report from Juniper Research has found that the number of eCoupons redeemed will nearly double over the next three years, rising from 16 billion this year to more than 31 billion in 2019.
The report – eCoupons: Market Trends & Market Dynamics 2014-2019 – claimed that redemptions would primarily be driven by mobile coupons. It argued that while there would be some growth in the PAH (print at home) space across fixed and mobile, the increase would primarily be driven through in-store, barcode based redemptions and online redemptions.
At the same time, the report observed that that consumer behaviour was evolving to incorporate online or mobile coupon search prior to either remote or in-store purchases. It cited the sharp rise in visits to the couponing section of retailer sites, and in traffic to aggregator sites such as VoucherCloud. The report also claimed that even with context-driven offers, consumers were increasingly storing the coupons on-device (often in a wallet such as Passbook, Samsung Wallet or Google Wallet) and redeeming them at a later date.
Analytics key to targeted coupon delivery
Additionally, the report argued that analytics of consumer purchase patterns were essential to enable an increase in CLV (Customer Lifetime Value). According to report author Dr Windsor Holden, “Coupons should offer discounts on products that a consumer might be interested in purchasing, rather than those purchased on a regular basis: otherwise, coupon redemption represents a loss to the brand or retailer.”
Other findings from the report include:
• Lack of scanning infrastructure at retailer POS remains a key hurdle to adoption.
• Couponing platform integration with leading social media provides significant opportunity for the delivery of targeted offerings.
• High profile data thefts may reduce uptake of store loyalty cards and consequently reduce opportunity for targeted couponing.