The Compete Online Shopper Intelligence study provides powerful insight into the complete online shopping experience.Â For more consumers insights, please contact Debra Miller at firstname.lastname@example.org for more information.
Coupons have long been a favorite tool of savvy online shoppers.Â One-third of online shoppers surveyed in the latest Online Shopper Intelligenceâ„¢ survey said they generally use coupon sites while shopping online.Â In fact, 35 million consumers visited coupon sites in April 2010, up 5 percent from the year prior.Â While consumers certainly enjoy coupons, what do retailers get out of it?Â Turns out, coupons have a significant impact on retailers’ bottom lines.
- Coupon codes can make or a break a sale. More than half of the consumers who used a coupon code during their last online purchase said that if they had not received the discount, they would not have bought the item(s).Â That indicates that coupons can be a highly effective sales driver and can be leveraged as such.
- Consumers who use a coupon spend more. Coupons seem to have a high ROI; the small discount consumers receive encourages them to spend money.Â When asked how much they spent on their most recent online purchase, consumers who used a coupon spend almost twice as much as consumers who did not use a coupon.
- Coupons can increase customer satisfaction. Coupons are an effective way for retailers to build good will with their consumers.Â When asked about their overall shopping experience, satisfaction was higher for consumers who used a coupon than for those who did not.
- Coupons can increase customer loyalty. Consumers who used a coupon said they are more likely to buy from the retailer again when compared to those who did not use a coupon.Â So not only will coupons encourage higher order value purchases, but they also increase that consumer’s likelihood to purchase from that retailer again.
It seems from all these findings that coupons are a no-brainer for both consumers and retailers.Â Coupon-on America.
Debra Miller Arbesman is senior associate, retailer and consumer products at Compete, a Kantar Media company that helps brands improve their marketing based on the online behavior of millions of consumers.