Coupons are changing how and where consumers spend their money.
According to recent research, 90 percent of consumers use coupons in some way. And coupons have the ability to affect both short-term revenue and long-term customer retention and loyalty. For businesses, this means that integrating coupons into an overall business strategy is imperative.
To give you a better idea of just how important coupons are to consumers in today’s shopping landscape, Wikibuy compiled a list of coupon statistics, focusing on the ability of coupons to change the way consumers shop. Major points include:
97 percent of consumers look for deals when they shop
83 percent of consumers say coupons change their shopping behavior
48 percent of consumers say they’re more likely to make a purchase sooner than normal with an offer
37 percent say coupons make them more likely to purchase more items than usual
25 percent say they’re more likely to spend more than normal if they have a coupon
68 percent of consumers say digital coupons build brand awareness and generate loyalty
So, what does this mean for companies? Simply put, offering coupons and discount codes can help build awareness around the brand, bring in new customers and retain existing ones, and influence major purchase decisions.
To help you get started incorporating coupons into your business strategy, Wikibuy put together an infographic about how to drive customer loyalty with coupons. Check out the full visual below.
29 Research-Backed Stats For Driving Customer Purchases with Coupons.
The true success of any business venture is in its ability to drive sales. And when it comes to sales, we– as small business owners and entrepreneurs– are going to need all the help we can get.
The smart use of coupons should always be an integral part of your marketing campaigns. Appeal to your clients’ sense of need and urgency with carefully and creatively crafted special offers, and use these to great effect to bring in more business.
Special thanks to our guest content writer Luke Fernandez!