Why Do Businesses Use Offers?

COZ App is a community based loyalty App which offers users an offer, to ensure they frequent your business over your competitors, and ensures you are rewarded for partnering with a group such as a local club.

Attaching an offer to your profile helps trace interactions with club members as they activate the offer and you become aware of the offer being redeemed.

As these statistics revele, the use of coupons and discounts is a useful tool that the majority of businesses implement to grow their sales and drive brand loyalty. There is also some important trends with regards to the transition to digital coupons which may be of interest.

·       93% of shoppers cite discounts and offers as important factors when deciding whether or not to purchase from a retailer or brand

·       85% of shoppers use coupons

·       Discounts and coupons came in as the top-ranking tactic for driving loyalty with 61% of consumers saying they use them

·       64% of consumers said fair pricing motivates them to try a new brand, followed by free shipping (61%), reviews (57%), word of mouth (46%), great shopping/buying experience (37%), loyalty perks/rewards (35%), ads (15%) and influencer endorsement (4%)

·       90% of consumers use coupons

·       97% of consumers look for deals when they shop and 92% said they are always looking

·       87% of Millennials, 91% of Generation Xers and 96% of Baby Boomers used coupons in 2019

·       53% of consumers expressed a desire for all coupons to be digital

·       63% of consumers would increase the amount of coupons used while shopping if the offers were available online

·       Digital coupon redemption is projected that 80% of coupons could be redeemed on a mobile device

·       80% of millennials said they used coupon codes when shopping online

·       78% of millennials and 79% of affluent shoppers ($100K+ household income) said they would use a featured coupon code from a print advertisement to buy online

·       to me, based on my shopping behaviour and history (26%)

·       81% of online consumers want promotions targeted to their product preferences

·       86% of Millennials and 76% of Gen Z cited promotions/discounts as influential on purchases

·       90% of adult consumers said they are influenced by promotions in terms of the amount they spend and the items they purchase

·       77% of shoppers say discounts can influence where they shop, and 48% say they can speed up the decision-making process

·       Two-thirds of shoppers will either not shop without a discount or will look for discounts before they begin shopping

·       When it comes to loyalty programs, 82% of consumers prefer discounts

·       30.6% of female internet users often use discounts and coupons for day-to-day shopping, compared to 16.8% of males

·       54% of consumers want personalized offers through SMS or app messages when close to a store

·       92% of consumers’ shopping purchases will be influenced by offers and promotions this Christmas

·       Free shipping (58%) tops customers’ Christmas offers wish list, followed by money off purchases (48%) and “buy one, get one free” offers from retailers (37%)

·       74% of consumers choose a store based on a strong loyalty or discount program

·       85% of consumers say a deal or discount influences where they choose to eat outside of their homes, and 81% say a deal would make them likely to switch restaurants they planned to dine at

·       74% of Millennial and Generation Z consumers use websites or apps to search for discounts and deals on fast food, compared to 57% of Gen Xers and Boomers

·       84% of companies plan to offer promotions in 2017

·       75% of companies are slicing margins to offer discounts

·       64% of companies already offer or will offer exclusive promotions to specific customer groups like students, teachers and military members

·       63% of companies offer their promotions year-round: 68% online and 39% in-store

·       80% of participants signed up for email offers specifically to receive discounts

·       96% of students would be more likely to make a repeat purchase from a brand that offers student discounts

·       78.4% of students “always” or “usually” check for discounts before making their online purchases

·       80% of consumers feel encouraged to make a first-time purchase with a brand that is new to them if they found an offer or discount

·       94% of consumers said they search for special offers when shopping online and 48% said they search for deals before they start shopping and often decide what to buy based on the offers they find

·       67% of consumers have made a purchase they weren’t originally planning on because they found a coupon or discount

·       79% of brand loyal consumers are influenced to buy a brand they typically wouldn’t purchase due to coupon influence

·       76% of retailers plan to increase the amount of promotions they are offering in 2018

·       86% of retailers will partner with websites and apps that focus on deals, cash back and loyalty programs in 2018

·       51% of U.S. retailers plan to provide offers/discounts exclusively for mobile app users in 2018 to positively affect sales growth

·       93% of consumers agreed they’d choose to shop with an online retailer again if offered good discounts

·       For 95% of retailers, deals and discounts do more to drive sales during the holidays vs. other times of the year

·       58% of retailers say that deals and discounts are more effective than traditional marketing messages in reaching holiday shoppers, with half reporting that savings websites and apps are the most effective way to increase revenue during the holiday season

·       94% of customers would take advantage of an exclusive offer provided by a brand that the brand would not typically offer the general public

·       82% of Americans say being provided an exclusive offer would increase how often they shopped with a brand

·       91% of Americans would share an exclusive offer with their friends and family

·       Offers consumers are most interested in using are: one-time 25% off your purchase (33%), 10% off every purchase (23%), free shipping (20%), free gift ($5 value) for coming into their store (10%), early access to sales (5%), upgraded loyalty status (4%) and personal shopper ($%)

·       More consumers who should be able to redeem an exclusive offer than those who shouldn’t (89% vs. 80%) say an exclusive offer would make them likely to shop with a brand

·       Promotions are the #1 driver for consumers to use their mobile wallet

·       61% of consumers subscribe to mobile messaging because of incentives or coupons, combined with 55% who subscribe because of loyalty rewards points

·       32% of consumers prefer to receive their coupons through via smart phone

·       36% of coupon users have increased their use of paperless coupons in 2017

·       Discounts received via smartphone or other mobile devices influence where 67% of consumers decide to shop

·       Coupon app use has increased 42% from 2016

·       More than 75% of consumers and 93% of millennials use mobile while in a store to look for coupons and discounts

·       81% of consumers will utilize their mobile devices while in-store shopping for merchandise and 39% among those will download digital coupons

·       90% of mobile device users have at least one subscription to access coupons, promotions and special discounts

·       50% of internet users use restaurant mobile apps to find discounts or special promotions

·       There will be 1.5 billion mobile coupon users by 2019

·       There were 560 million mobile coupon users in 2014

·       55% of customers find mobile apps more useful than the store for finding promotions

·       37% offer their promotions year-round on mobile devices

·       QR code coupons redeemed via mobile will reach 5.3 billion by 2022

·       1 billion mobile devices will access coupons through QR codes by 2022

·       Mobile coupons have a 10% redemption rate, compared to 1% or less for traditional coupons

·       61% of shoppers use a smart phone to save on purchases, 87% of parents

·       67% of consumers decide which store to shop based on paperless discounts via mobile device or loyalty card

Full article can be viewed online https://blog.accessdevelopment.com/ultimate-collection-coupon-statistics

Sign up for our COZ App Newsletter today

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.