According to eMarketer’s “Shoppers Turn to Smartphones and Tablets to Cash in Coupons,” only 36.5% of businesses planned to offer mobile coupons in 2014. That number is expected to reach 44.5% in 2016. This past year, the number of users who shopped using mobile coupons climbed to 15%, up from last year’s 10%. That meant there were 50 million consumers using mobile coupons in 2014, a pretty good indicator that we’re going to see a lot more retailers adopting a mobile coupon strategy with the new year.
With more and more brands adopting mobile coupons, fueled by the widespread use of smartphones and the increasing popularity of mobile channels that make email, buying sites and mobile apps easy and simple to access, it’s likely that mobile shopping is going to be the predominant and preferred medium for consumers.
According to Juniper Research, there are now 560 million coupon users recorded for 2014. The projected growth rate is at 1.5 billion mobile coupon users for 2019. That’s quite a significant chunk of the consumer market, and something retailers are trying to take advantage of as they launch mobile apps and coupons to drive sales for their business.
10x More Redemption Rate
In “Fun Mobility: Mobile Engagement Matters,” the article sheds light on the main reason for the redemptive power of mobile coupons. That is, in a word, convenience. Since mobile coupons are stored on a shopper’s smartphone, there’s no need to take clippings, remember to bring their coupon to the store or even visit a physical store location if they prefer online shopping. There’s no need to look high and low or turn car seats upside down trying to locate that long-lost coupon. There’s also no need to print anything out, as was the case with print-at-home coupons which were popular just a few years ago.
With mobile coupons, consumers only need a smartphone for their savings. Losing one or forgetting a coupon back home is now a thing of the past. If shoppers have their smartphones with them, then they’ve got all their coupons all in one spot. It’s organized, hassle-free and totally convenient.
Retailers think so too. After all, it’s simple and easy to build loyalty programs and features that go with the mobile coupons, bringing more repeat customers to their door. There’s also the added advantage of tracking capabilities that allow retailers to gain valuable insight into consumer shopping habits and preferences. This allows business owners to revise and improve on their marketing campaigns, ensuring higher engagement and sales for the next round of product or service promotions.
Coupons and Cash back
This season, another way businesses are boosting their sales is by offering cash back along with mobile coupons. Loyalty 360 cites that 47% of mobile consumers want retailers to send over coupons to their mobile devices particularly when they’re around or near the store.
This way, consumers can take advantage of great deals in two ways: one, through mobile coupons and the other, through cash back rewards. For example, Cash back rewards on using Old Navy coupons from Ebates can often be matched with discounts, free shipping and other special offers. Old Navy coupons and codes for children’s clothes, men’s clothes and women’s clothes are part of the selection.
Holiday Spending and Cash Back Rewards
With cash back, the more people spend, the more money they get in return. This is a great way to improve sales as people always love a good bargain. However, it only works if shoppers understand the details of cash back programs very well.
For shoppers who don’t mind a little wait for big returns, cash back rewards are one of the best ways to shop. They give consumers a chance to save a few dollars on everything on their shopping list. No matter what they’re shopping for, cash back deals ensure a satisfying shopping experience for consumers who love being thrifty through deals and discounts!