Fourfold growth of QR codes to deliver coupons and discount offers will increase substantially, as in-built QR functionality on mobile devices drives usage. A new study from Juniper Research has found that the number of QR code coupons redeemed via mobile will reach 5. The second coming of QR codes Recent changes by Apple, to include QR code reader functionality as part of the camera application on iPhone devices, has lead Juniper to revise upwards its mobile coupon forecasts, believing now that over 1 billion mobile devices will access coupons through QR codes by Research author Lauren Foye explained: The lack of an in-built reader had been a hindrance, with consumers needing to download a separate QR code scanner app". Juniper believes retailers are set to take advantage of an increasingly receptive audience for QR codes.
- Mobile drives significant changes in coupon-related behaviors
- Mobile coupon users to total 1B by study
- Personalizing Coupons
- Are Mobile Coupons The Answer To Higher Redemption Rates?
- Consumer Preference for Mobile Coupons Reaches a Tipping Point
- Digital Coupon Marketing – Statistics and Trends [Infographic]
- Mobile Wallet Use Hinging on Discounts & Coupons, Research Finds
Mobile drives significant changes in coupon-related behaviors
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Thanks for visiting! What kind of coupon is more effective — one that gives you a discount on a product, or one that gives you the product for free? For brands, though, the answer is a little more complicated. The researchers focused on mobile coupons, citing a Juniper Research study predicting that 1. So the researchers set out to learn more about them.
What their study found was that discount mobile coupons and free-item mobile coupons are equally effective in encouraging people to buy. But free-item mobile coupons have a longer-lasting impact when it comes to turning couponers into regular customers who are willing to buy the product again later at full price. The study found that coupons offering cents-off a product helped marketers meet short-term sales goals at a modest cost, by tempting shoppers with a modest discount.
Free-item coupons, in contrast, cost marketers more. Yet he acknowledged that it may have been worth the unanticipated extra expense. Currently, there are no coupons available for the product. And why not? Those incentives already worked. Free-item paper and printable coupons can present problems , like counterfeiting and over-redemption. So paperless coupons are certainly less risky for brands.
Meanwhile, the next time you see a coupon offering something for free, better grab it while you can. If it works as well as these researchers say it does — it could be a while before you see an offer like it again. Image source: It should be noted that not all retailers are capable of accepting paperless offers for free product. The strategy can be great when working with specific retailers like Kroger in this case , but trying to run a free or BOGO offer nationally can result in missing key retailers due to their technology limitations.
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Mobile coupon users to total 1B by study
Despite the growth of low-priced retailers such as Aldi, Trader Joe s and others, the research confirms that coupons still heavily influence consumer purchase decisions. Does the thrill of saving money through a coupon outshine the act of paying a lower, everyday price for the same item somewhere else? Evidence suggests it might, which can have daily and pricey implications for traditional and everyday-low-price merchants EDLP , as well as product manufacturers. Put another way, experience may be a bigger factor in effective discounting than savings. The mental rush associated with saving money is well established.
Recent consumer research from CodeBroker explains how mobile coupons can drive purchase behavior in a cut-throat battle for mobile-savvy consumers. Among many interesting findings, the report underscores a crucial fact that winning the increasingly fickle consumer requires listening to what they prefer and what they value — including coupons and discounts.
The report, Mobile Coupons: Transitioning to mobile Juniper expects retailers to become more agile and efficient, and better able to implement faster changes as they reconstruct their businesses around the greater use of online engagement channels. In the medium term, brands will move away from MMS to deliver coupons and turn towards technologies such as NFC and iBeacon in order to drive in-store engagement. While NFC has failed to achieve traction thus far, the emergence of a cloud-based secure element through Host Card Emulation is likely to stimulate greater integration into wallets.
Business Wire. This report breaks down the data and analysis behind the procurement of mobile coupons and acts as an all-inclusive guide for making smart purchasing decisions. Looking for more insights from this report? Request a free sample report. SpendEdge sample reports are free of charge and provide insights that focus on cost-saving aspects of procurement and optimization of category spend. This report is available at a discount for a limited time only: View the report snapshot before purchasing.WATCH THE VIDEO ON THEME: How to COUPON from your PHONE - The New Mom
Are Mobile Coupons The Answer To Higher Redemption Rates?
Tina Orem April 03, If eligible, every federally-insured U. Tina Orem March 01, Both companies process more than 15 billion bill pay transactions in and those numbers are expected to climb. Even as some U. This white paper will help your evaluation efforts by outlining the top 5 goals a cloud-based financial management system should strive to reach for credit unions. Learn how to balance efficiency and accuracy better in the budgeting process, the benefits of cash flow planning, and the shortcomings of traditional approaches. All Rights Reserved. Menu Search.
Consumer Preference for Mobile Coupons Reaches a Tipping Point
Jump to navigation. As with many phases of life, mobile computing is transforming consumer decision making by making it easier to compare products and potential discounts in real time. One of the newer components of this phenomenon is the growth of mobile coupons which offer the ability to provide discounts based on previous shopping behavior, thereby conveniently and quickly giving consumers just the coupons they will actually use right on their smart phone. This personalization could drastically change how consumers actually decide on buying a product and will require companies to transform how they market and advertise. A new study by researchers at Cleveland State University and Kent State University, is one of the first to examine the impact of mobile coupon technology on actual purchases and provides useful guidance to businesses on how to best utilize online discounting. This study sought to better understand coupon redemption in the face of discount competition. The team observed supermarket shoppers who used their smart phones to scan the bar code of products in-store, receiving both coupons for the scanned product and several similar products as a result.
Digital Coupon Marketing – Statistics and Trends [Infographic]
The blending of retail and technology is making shopping an increasingly connected experience for shoppers. And retailers are responding by integrating multichannel strategies into their marketing plans, particularly mobile coupons. According to recent research from Access, 45 percent of marketers use mobile coupons as part of their marketing strategy. Mobile coupons offer brands and retailers the opportunity to create personalized, targeted offers that consumers can use when shopping in-store or online. The in-store experience and mobile coupons work together seamlessly for a truly connected shopping experience. Finding a coupon often seals the deal and undecided shoppers can easily check to see if mobile coupons are available while in the store. At Branded, we were curious how many of our community members regularly use mobile coupons when shopping.
Mobile Wallet Use Hinging on Discounts & Coupons, Research Finds
Both internet and mobile coupons are increasingly popular as the worsening economy has brought frugal into fashion. This is especially true for the and somethings and the wealthy according to research conducted by the Nielsen Company. If you are not familiar with electronic coupons e-coupons , they are a great way to save even more on the items you purchase. E-coupons can be printed for use in brick-and-mortar stores or entered as promotion codes in online stores. In spite of the multitude of methods for finding coupons, text messaging and email are emerging as the most popular ways to obtain coupons in the US, with 8. The savings can be significant. Why pay more? Secure your computer. This concept is so basic, yet only a fraction of the U.
Research studies indicate people are likely to be receptive to mobile coupons, opening up many opportunity for media companies. That is, if we were a cinema and just sold tickets to a movie we would not survive.
This year, That s an 8. Mobile coupon usage will keep climbing as consumers shift their shopping habits from desktop to mobile. By the end of , we expect there will be This week, we re looking at mobile habits — how consumers shop, how they bank and other ways they transact via mobile devices. First up: The uptick in mobile coupon use hasn t gone unnoticed by retailers, and their strategies have adjusted to meet the demand. Store circulars are driving growth as retailers start to digitize and email them to regular shoppers. Mobile coupons are also getting a boost thanks to the rising popularity of mobile wallets like Apple Wallet and Google Pay, where brand-controlled assets live and allow marketers to send personalized notifications and messaging. Consumers seem to welcome this type of immediacy. The Mobile Series Infographic. Mobile Coupons. United States. How Are Retailers Adapting? What Else Is Driving Growth?
Paper coupons have been popular since first used by Coca-Cola to attract consumers in Now, over years later, new research indicates that a significant shift in the use of discount coupons is occurring. It is a trend that, once reached, will likely be irreversible. Research conducted by CodeBroker indicates that mobile coupons are about to replace paper coupons in consumer popularity. While this shift has been long anticipated by some, the research contained plenty of other insightful information for those who are interested in reaching consumers through discounts. One of the factors of interest is the sense of urgency consumers feel about a coupon delivered through SMS, email, apps, and social media. This could be exciting news for retailers who are seeking to create urgency and are looking for a vehicle to create short-term traffic surges. The report also offers a potential solution for retailers looking to grow the number of subscribers to their marketing lists.
Mobile coupons not only drive customers to spend money during a promotion—they can encourage long-term purchase behavior as well. New research from Binghamton University, State University at New York finds that mobile coupons can affect both short- and long-term sales goals, and that targeting customers with the right type of mobile coupon can boost revenue. Instead of having to cut out coupons from the newspaper or a mailer, customers can now get mobile coupons sent directly to their phone via text messaging services. Working with data from a global beauty company that markets skincare and makeup products, Park and fellow researchers Young-Hoon Park of Cornell University and David Schweidel of Georgetown University looked at the short-term and long-term effectiveness of two different popular kinds of mobile coupons: Mobile discount coupons were most effective in achieving short-term sales goals, increasing the likelihood that a customer would make a purchase during the actual promotion period. The discount coupons also increased the average amount customers spent during a purchase during the promotion. Free-sample coupons also affected short-term sales goals, but researchers found that only free-sample mobile coupons had a long-term influence on purchase behavior beyond the promotion period, contributing to incremental purchases over a longer period of time. Price-discount coupons don t have that same push," Park said. The findings highlight how which type of mobile coupon used in a promotion matters in achieving overall sales goals, he said, and that marketers should consider the long-term purchasing behavior of customers when creating strategies. But if you re using a long-term perspective, it may be a better decision to send free-sample coupons instead," Park said. Park said it s also important for marketers to determine which type of mobile coupon would work best for individual customers. Park said that while there is still much to be explored in the relatively new world of mobile promotions, his research underlines the effectiveness of targeting customers on their mobile devices. Explore further. Please sign in to add a comment.