For those who found that the majority of their sales are to people who shop online, it is ideal you improve your online reward system. However, if a larger portion of your business is conducted in person, then an in-store reward system may be the way to go. Luckily, there is flexibility in your decision making, with respect to the requirements your business as well as the setup of your merchant processor.
Clipping coupons is a regular task for people who are often looking for new deals. Together with the development of digital cash-saving programs, like print- at-home and cashback apps, more and more of the people are simply turning to using coupons to cut costs on their shopping.
According to studies, it is forecasted that there will be tremendous growth in the number of mobile coupon users. But, the question now is: what will be the reason for this growth and what does it means for cash-savers?
Customer expectations and technological improvements are the drivers of this trend. The growth of cash-savers in the world has continued to grow for the past couple of years. Nine out of 10 of us ‘believe it is great to be frugal’ and two thirds of shoppers won’t make a purchase before looking for a discount online.
What impact will digital coupons make on cash-savers?
It’s projected that coupons worth $350 Billion are printed on a yearly basis and nearly 99% of them were never redeemed.
The most probable reasons for this are unwanted and forgotten scrap of papers.
It’s a gigantic shame to realize why these savings are not utilized, but the growth in digital redemption would support reducing these figures.
In America, where this technology is broadly used, mobile coupons have a 10% redemption rate – which implies that more individuals are saving.
Ease-of-use, audience accessibility, and fraud detection are a number of the key ways those involved are benefiting. The progress in technological advancement has made couponing more accessible and lots of brands release coupons.
Other good benefits of digital coupons are that you wouldn’t forget to always take them with you and you wouldn’t have to travel to as-many stores or supermarkets to redeem your as-many coupons.
However, technology continues to be a concern for a number of shoppers like 68 year old grandmother of seven, Natalia Hunt, who said: “I’d still favor the paper ones, better to organize. It is simple and fast to make use of them. So, why change that?”