RetailMeNot, Inc. Releases "The State of Digital Coupons" Study Showing How Digital Coupons Are Driving Mobile And Omni-Channel Sales
- Study finds that digital coupons positively affect brand and loyalty
- Digital coupons play a key role in incentivizing purchases and combating shopping cart abandonment
- Consumers prefer coupons and coupon codes over other types of promotions
- Mobile coupon use via tablets and smartphones is on the rise
- Consumers are likely to spend more in store when redeeming digital coupons from smartphones
AUSTIN, Texas, Aug. 7, 2014 /PRNewswire/ -- RetailMeNot, Inc., (NASDAQ: SALE), which operates the world's largest marketplace for digital offers, released today the findings of an August 2014 study it commissioned from Forrester Consulting that looked at the impact of digital coupons and promotions within the retail industry. The research updates trends reported on in a commissioned 2011 Forrester Consulting study titled, "The Impact of Online Coupons and Promotion Codes." According to the new study, digital coupons are as relevant as ever as retailers' omni-channel sales strategies become the norm. Additionally, the research reviews how people are thinking about digital couponing and provides insight into omni-channel offers in the offline-channel world, as well as insight into how mobile affects in-store traffic and sales.
Get the full study here: www.rmn.com/digital
"This new Forrester study reiterates key findings from a similar 2011 study, while highlighting how digital promotional strategies are driving, and will continue to drive, meaningful positive impact on retailer sales through both e-commerce and in-store channels as mobile commerce grows," says Jill Balis, SVP of Marketing for RetailMeNot, Inc. "How we research, plan and shop is evolving beyond the e-commerce site to include our mobile phone and tablet, yet the basic premise of coupons has remained the same. A great offer can drive incremental revenue, reduce shopping cart abandonment and result in happy repeat customers."
Digital coupons continue to positively affect brand and loyalty
Nearly 7 in 10 consumers (68%) surveyed strongly believe that digital coupons have a positive impact on a retailer's brand, and 68% also state that coupons generate loyalty. Similarly, digital coupons increase the potential for conversion when consumers are in the cart and checkout phase of a purchase, and they play a key role in combating shopping cart abandonment. Of consumers surveyed, 64% said a digital promotion or a coupon often closes the deal if they are wavering or undecided on making a purchase.
Mobile coupons can broaden consumers' horizons
In addition to being loyal, customers are incentivized to try a new brand when receiving a digital coupon on a smartphone. Nearly half of those surveyed (47%) stated they are open to doing so.
Digital coupons continue to rule the world of promotions
An overwhelming 59% of respondents stated that out of all the different types of promotions a retailer can employ, digital coupons still sway them the most when it comes to influencing a purchase decision. Second to digital coupons, sales are preferred by 28% of those surveyed.
Digital coupons create a sense of urgency for consumers
Receiving a deal or savings opportunity via a digital coupon can be the tipping point for a consumer to click "buy" online or to walk into a store and make the purchase in person. Nearly 80% of respondents agreed that digital coupons "close the deal" for them when undecided on a purchase. Once a consumer receives a digital coupon, most are redeemed within several days. The study found:
- 91% of desktop users redeem a digital coupon within several days
- More than 90% of smartphone and tablet users redeem their digital coupons within several days
- Nearly one-third of coupons found on smartphones or tablets are redeemed immediately
- Nearly 30% of consumers used a digital coupon immediately upon receiving the offer
Consumers are likely to spend more when redeeming digital coupons from smartphones
The survey found that 55% of smartphone coupon users will spend more money during their online or in-store visit —the majority at least $25 more. Additionally, 77% of customers will spend between $10 and $50 more than anticipated, and 17% will spend an extra $50 or more.
Access the full study: http://www.retailmenot.com/corp/gui/pdf/digital.pdf
For more information on the study and other available research and case studies from RetailMeNot, please visit: http://www.retailmenot.com/corp/resources
About RetailMeNot, Inc.
RetailMeNot, Inc. (www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers from their favorite retailers and brands. During the 12 months ended June 30, 2014, RetailMeNot, Inc. experienced more than 625 million visits to its websites. In 2013, RetailMeNot estimates $3.5 billion in its paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. Its mobile apps have been downloaded over 18.5 million times. The RetailMeNot, Inc. portfolio includes www.RetailMeNot.com, the largest digital offer marketplace in the United States; www.RetailMeNot.ca in Canada; www.VoucherCodes.co.uk, the largest digital offer marketplace in the United Kingdom; www.Deals.com in Germany; www.Actiepagina.nl, a leading digital offer site in the Netherlands; Bons-de-Reduction.com and www.Ma-Reduc.com, leading digital offer sites in France; www.Poulpeo.com, a leading digital offer site with cash back in France; and www.Deals2Buy.com, a leading digital offer site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit: http://investor.retailmenot.com/.
(512) 777-2957 office
(808) 224-3215 mobile
Allison+Partners Public Relations
SOURCE RetailMeNot, Inc.