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BizReport : Ecommerce : May 24, 2016

Expert: Keys for coupon success

At the 11th annual Industry Coupon Conference, experts weighed in on how retailers and brands can best utilize coupons to engage shoppers across the demographic spectrum. The findings? It's about to get personal. Here are four key takeaways.

by Kristina Knight

First, digital coupons use is up, paper is down

"At the ACP Conference, Susan Jones of Inmar gave a presentation about couponing's evolution over the past year. Specifically, she noted that print-at-home coupons increased in redemption rates from 3.1 to 3.8 percent and paperless, store loyalty "load-to-card" coupons saw increased redemption from 2.7 to 3 percent," said Mark Bees, Vice President of Product Marketing, Linkable Networks. "In other words, digital coupons' ease of use and convenience have led to their increased adoption, especially by millennial consumers who crave all things digital."

Second, Millennials, especially, like digi-coupons.

"At the conference, we heard from a panel of eight millennial coupon "enthusiasts" who underscored their desire for digital. None of the panelists owned a printer and would prefer to receive all of their coupons on their mobile devices instead use their mobile device to receive offers," said Bees.

Third, brands must engage all shoppers with coupons, not just couponers.

"Consumers, mainly millennials, don't coupon for fun - they do it to stay under their monthly budget. The millennial panelists explained that their meal plans center around what items they can buy with a coupon. As a result, brands must offer a simple and digital redemption experience to appeal to the "casual" couponer," said Bees.

Fourth, keep evolving.

"In addition to the rise of digital coupons, there has also been a rise in demand for paperless redemption solutions at retailers like Walmart that are not tied to a store loyalty card," said Bees. "Technologies like receipt scanning and card linked offers remove the paper coupon and eliminate the need for a retailer specific store loyalty card."

Tags: coupon trends, digital coupons, discount trends, ecommerce, Linkable Networks

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