Austin, Texas – Digital coupons remain the most potent form of retail promotion, a new Forrester study shows.
The report, commissioned by online discount code and coupon provider RetailMeNot, revealed that the majority of consumers (59 percent) are swayed more by digital coupons than any other retail promotion when it comes to making a purchase decision.
A traditional price promotion or sale is the second-most influential retail tool, favored by 28 percent of respondents, the Forrester study indicated.
Digital coupons also create a sense of urgency for shoppers, the market research group found, with 80 percent of respondents acknowledging that the clip-less coupons “close the deal” for them when uncertain about making a purchase.
What’s more, about a third of shoppers redeem their digital coupons immediately, and about 90 percent do so within several days of receiving them, Forrester said.
The research also revealed that consumers are likely to spend more when redeeming digital coupons from smartphones. Specifically, 55 percent of smartphone coupon users will spend more money during their online or in-store visit, the study showed, with the majority spending an extra $25 or more, while 17 percent spend an extra $50 or more.
“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,” said RetailMeNot’s marketing senior VP Jill Balis. “A great offer can drive incremental revenue, reduce shopping cart abandonment and result in happy repeat customers.”
The complete report is available here.