New trends in the retail world are popping up constantly. Consumers are fickle these days. They change their minds constantly and want the best, fastest and most valuable deal – whatever it takes. This has made it extremely difficult for marketers and retailers to keep up. Pricing wars happen daily, and buyers and customers are not just looking for the best price anymore. They are also weighing in the perks and rewards a company offers against the total price of items.
If you want to win the competition you can no longer ignore the use of online and mobile coupons to further attract customers.
In fact, a recent Juniper Research study has found that redemptions for eCoupons will double over the next five years and will hit $81 billion in 2021.
The report, Mobile & Online Coupons: Loyalty & Beacon Engagement 2016-2021, also said the need is great now to be a disruptive player in the market as new channels and partnerships are driving redemptions.
Popular resources like Groupon and RetailMeNot are offering savings based on a user’s location and bringing them deals in-vehicle. There’s
already a rise in popularity of this kind of savings redemption happening now.
The savings are similar and a “next step” if you will, to the in-store beacons that were popularized not too long ago. To build on their popularity it will be important for retailers to pay attention to ways they can partner with companies and drive promotions if they want to grab the interest and loyalty of customers. Technologies like NFC will be key in helping to drive relevant and targeted coupons for customers, and in-app mobile offers are already proving to be a successful option for many.
Lauren Foye, author of the research, noted, “This provides retail with a whole new dimension for loyalty campaigns, and will surely see success as a new delivery channel.”
The savvy, mobile shopper is here – is your brand ready?