Today’s coupons have evolved far beyond the Sunday clippings once associated with a promo deal. They’re targeted, they’re digital, and they influence everything from a consumer’s purchase journey to their brand loyalty.
According to recent research, 90 percent of consumers use coupons in some way during the buying process. For brands, coupons offer a way to reach existing and new customers in a tailored way that influences their purchasing decisions. Check out our list of all the coupon statistics you need to know for 2018, or see our infographic to learn how you can use coupons to influence customer purchases.
General Coupon Statistics
The redemption of both digital and print coupons is on the rise, with millions of Americans using coupons to save money on purchases each month.
90% of consumers use coupons in some way (Valassis)
Chatbot coupon volume is slated to increase 1.1 billion by 2022 (Juniper Research)
More than 25 million Americans use couponing apps to save money each month (source)
How Consumers Find and Use Coupons
Consumers are increasingly seeking out coupons, primarily in the mobile and digital landscape. They note that the ability to find deals affects their purchase decisions and influences how they feel about the overall shopping process.
Only 35% of U.S. retailers believe their company has a strategy in place to manage prices and promotions effectively across all channels (Precima)
50% of U.S. retailers are concerned with how consumers view their prices, saying that increased price sensitivity of consumers is a business challenge (Precima)
Another 48% of U.S. retailers believe the largest pricing challenge is pricing aggressiveness from competitors (Precima)
How Coupons Affect the Purchase Journey
Coupons have the ability to affect how a buyer shops, from how much they spend to what they buy and where the buy from.
Emails containing a coupon have a 14% higher open rate, a 34% higher unique click rate, and a 27% higher transaction completion rate compared to those without coupons or promo codes (ReadyCloud)
83% of consumers said that coupons change their shopping behavior (Inmar)
Emails containing coupons offer a 48% increase in revenue per email (ReadyCloud)
89% of consumers name price as a top factor affecting their purchasing decisions (Hawk Incentives)
48% of consumers say they’re more likely to make a purchase sooner than normal to use an offer (Kelton)
41% of consumers say they’re more likely to seek out something to buy if they have an offer (Kelton)
38% of consumers say more likely to treat themselves to something they don’t need if they have a coupon (Kelton)
37% said a coupon makes them more likely to purchase more items than normal (Kelton)
28% of consumers say they’re likely to purchase a more expensive product than intended with a coupon (Kelton)
25% said they’re more likely to spend more than normal with a coupon (Kelton)
39% of consumers said they’ve purchased a product from a brand they otherwise wouldn’t normally have bought because they had a coupon for the brand (Inmar)
94% of Americans would take advantage of an exclusive offer provided by a brand that the brand would not typically offer the general public (Kelton)
58% of consumers who would use an exclusive offer say it would increase their likelihood to purchase (Kelton)
Coupon users spend 24% more than regular shoppers (Deal Nerd)
60% of consumers say purchasing products at the lowest price possible is most important to them when shopping online (Radial)
68% of those consumers said they wouldn’t shop online without coupon code (Deal Nerd)
Coupons and Customer Loyalty
Coupons have the ability to drive brand awareness and increase customer loyalty, driving more than just a short-term revenue stream but also long-term ROI.
68% of customers say digital coupons build brand awareness (ReadyCloud)
68% of customers say coupons generate loyalty (ReadyCloud)
50% of customers say they’re more likely to visit a store if they’ve received a promo code or a digital coupon (ReadyCloud)
76% of customers feel that receiving personalized discount offers based on their purchase history is important (LoyaltyOne)
Approximately 50% of all millennials say limited time offers are very enticing and something that they look out for (Coca-Cola)
82% of Americans say being provided an exclusive offer would increase how often they shopped with a brand (Kelton)
91% of Americans said they would share an exclusive offer with their friends and family (Kelton)
86% of Millennials said promotions and discounts are influential on purchases (Lab42)
76% of Gen Zers said that promos/discounts influence their purchase (Lab42)
54% of consumers said receiving an exclusive offer makes them feel rewarded (Kelton)
47% of consumers say receiving an exclusive offer makes them feel excited (Kelton)
36% of consumers said receiving an exclusive offer makes them feel special (Kelton)
Coupons are becoming a vital part of the purchasing process. The number of consumers using coupons is slated to increase in the coming years, and consumers are noting their desire to see more offers and deals from companies.
For brands, coupons can drive more than just sales. They’ve been shown to increase brand awareness, generate loyalty and influence overall purchasing decisions. For a look at how you can use coupons to drive customer loyalty and influence purchases, check out our full infographic below.