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Retailers: Coupons benefit you, too
While most marketers consider only the benefit of coupons to the consumers who clip and redeem them, information from Compete underscores the benefit of the coupon to the retailer offering the deal. According to the Compete Online Shopper Intelligence study only about one-third of coupons are used online.
What does that matter? Shoppers who use coupons in-store are more likely to be influenced by displays, other in-store ads, end-caps and other impulse buys.
Compete researcher Debra Miller ">writes, "More than half of consumers who used a coupon code (57%) during their last online purchase said that if they had not received the discount, they would not have bought the item(s). That indicates that coupons can be a highly effective sales driver and can be leveraged as such."
Some interesting findings include:
• 91% of coupon redeemers say they will visit a retailer again after being offered a coupon
• Coupon clippers spent $216 on their latest shopping trip compared to non-coupon clippers who spent only $122
• Shoppers who use coupons report higher overall satisfaction from a shopping experience
• 57% of shoppers say they would not have made a purchase without a coupon first
Compete's research also shows and coupon-redeemers are more likely to spend more on each store visit, whether online or offline. Why? Because of the mindset of the consumer; most coupon clippers see coupons as a benefit, a way to get something for nothing. But many will still spend as much, if not more, during a single shopping visit even if a coupon is offered because they had an amount for spending in mind when they purchased. For example, a shopper has a $100 weekly shopping budget. A coupon for $3 off a new floor sweeper means they have $103 to spend on that visit.
Coupons have also been found to increase loyalty among shoppers because the consumer using the coupon or code believes they are being given a gift of sorts. No, they don't believe the retailer has them specifically in mind when creating a coupon, consumers simply see coupon offers as a way brands are reaching out to make their lives easier.
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