Coupons Make People Happy In addition, 80 percent of shoppers who use coupons say they feel smarter, which goes back to our previous point of getting value. Findings like these confirm why coupons are so popular, no matter who the consumer is, wealthy shoppers are more likely to use coupons. Nearly half (48%) of U.S. consumers surveyed said they proudly use coupons as a symbol of their intelligent shopping skills.
American pride in the use of coupons also led the group among the 11 countries surveyed. Coupons are undoubtedly an attractive way to increase volume and sales. By incorporating them into your marketing mix, you can quickly create your customer file and temporarily increase your conversion rates. While there is no real substitute for offering quality products and fair prices, coupons do a great job supporting those efforts when competition heats up or consumer expectations dictate it.
While most consumers enjoy receiving free coupons, most reviews show that approximately 50% are actually redeemed. Plan well and budget accordingly, because getting hooked on coupons can be a very costly and unsustainable strategy that many companies can't afford. As for Gen X, they are making coupons more often than baby boomers, but not as much as millennials. And finally, even when shopping in a physical store, 93% of millennials have admitted that they use their smartphones to compare prices and search for digital coupons.
Only a small fraction of consumers surveyed by Blipper indicated that the newspaper was their preferred way of receiving coupons. Digital coupons are discounts and promotions offered by retailers to current or potential customers. Those customers who had every intention of buying without an additional incentive have now found a reason to look for a coupon online, which increases cart abandonment if they can't find it. And others might spend their time trying to find loopholes in their grocery store coupon policies.
Honey is the most popular coupon search browser extension, with 60% of digital coupon users surveyed indicating their preference for the service. Coupons alone won't create the value of your brand, but delivering a far superior experience with a smart coupon strategy and a quality product can. Digital coupons that can be redeemed with a smartphone are usually sent to the user via text message or an application. Coupons are often associated with closing items, discount retailers, end-of-life products, and the tactic that simply moves a failed product.
They can be used to purchase a product manufactured by that company in a store that sells those products and accepts coupons.