A growing number of consumers are incorporating searching for mobile coupons prior to their online and in-store shopping trips and increasingly storing offers on their mobile devices to redeem later as digital couponing continues to gain traction with shoppers.
The findings come from Juniper Research’s report – eCoupons: Market Trends & Market Dynamics 2014-2019, which suggests 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 claims that redemptions will be primarily driven by mobile, although print at home (PAH) would continue to grow, and that there has been a sharp rise 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.
Additionally, the report argues 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.”