Saving money is on top of any consumer’s list, even when spending money. As a result, online coupons are very popular.
Online coupons also benefit companies and businesses. The outlook for digital coupons, therefore, remains positive.
Statistics show that 90% of all consumers have used coupons in some way. Many reasons exist for this popularity.
Using online coupons when shopping is valid and highly practical. They don’t expire until many days or even weeks have passed.
As a result, consumers won’t have to redeem coupons right away or when they don’t want to. They can store coupons they discover from websites like Saveyou.com and use them only when necessary.
2. Buy More, Save More
Using coupons also allows consumers to save money when they buy more. They can benefit from huge discounts when they buy in bulk and use coupons.
3. Avail More Expensive Products
Customers also have access to some products which they could never otherwise afford without the help of online coupons.
Customers Investigate More
Customers in 2020 also scrutinize more products, according to Criteo’s Shopper Story 2020: The New Consumer Mindset.
The survey polled more than 1,000 customers across the US and found that more and more customers spend a long time in the consideration phase of their buying journey.
Here are some key findings:
One in five shoppers says retailer and brand websites have gained more influence on their decision-making process.
68% of US shoppers recommended a brand to someone because of good experience, proving that word-of-mouth, personal recommendations are still highly trusted among consumers.
Discovery is omnichannel: while people spend 50% of their time searching for products through search and social media, 50% of them also look for publishers, retailers, and brand websites.
What’s more important is that coupons play a crucial role in the consideration phase, too.
60% of customers say they always take and use coupons when available.
51% search for online coupons before buying online.
45% print out online coupons and use them in-store.
But coupons and deals affect not only the consideration phase; they also influence the entire shopping experience.
From Search to Checkout
A 2018 survey also supports the notion that deals have a substantial influence on customer acquisition and loyalty. From search (consideration phase) to checkout, online coupons play a role in the customer’s overall experience.
Here are some key findings:
Two-thirds of consumers have bought something they weren’t originally planning to buy solely because of finding a coupon or discount.
Four out of five customers say they would make a first-time purchase with a new brand if they found a discount or offer.
Three-fourths say they consider offers and deals when deciding where and what to buy online.
Four out of five say finding a great deal or discount is on their mind through the entire purchase experience.
These findings show that consumers want to spend their money in the smartest way they deem, taking advantage of deals throughout the journey.
But that was in 2018. The year 2020 is thoroughly different. How are online coupons performing amid the 2020 fiascos?
The quick answer: stellar.
Online Coupons Dominate 2020 Shopping
Due to 2020’s COVID-19 pandemic, digital transformation accelerated. In a report by the Wall Street Journal, redemptions of digital coupons in the US exceeded redemptions of paper coupons for the first time.
Consumer product companies and chains are developing better apps and marketing plans to accommodate the influx of digital leads, thanks to the lockdown and social distancing measures necessitated by the pandemic.
Beyond 2020, companies also believe customers will stick to online shopping and online deal-seeking even after the pandemic passes.
With the convenience, practicality, and other benefits that online shopping and online coupons provide to consumers and businesses, it’s hard to see why this prediction would be wrong.