Even though what we now know as the modern internet didn’t happen till the 1990s, it would be hard to imagine a life without it today. Virtually all aspects of our lives that get transformed because of it, including business. Moreover, our dependence depends on it, that we increasingly shop online for most things we need. The emergence of e-commerce has sent retailers scrambling for measures that would help them bear the competition posed by the phenomenon of online shopping. On that note, say hello to digital coupons, a.k.a. “the resource” that has quickly established itself as the savior for retailers.
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Allow us to corroborate that claim with this: A recent report predicted that by 2022, the total value of digital coupon redemptions would cross $91 million. For some context, this number stood at just $47 million in 2017. So, we can confidently say that digital coupons are having quite the moment. It, in turn, means that offline retailers would be wise to embrace them too. However, before you do, it would be advisable that you first establish a firm understanding of digital coupons. To that end, here’s a quick guide about digital coupons.
- What? Similar to paper-based cards, digital tokens are the digital versions of offers, promotions, and discounts offered by stores to both prospective as well as existent customers. Also, just like with paper coupons, the point of introducing digital tokens is to encourage customers to shop with the retailer.
- Why? For starters, you can’t misplace digital coupons or forget about them because you don’t put them away. Moreover, with this kind of visibility, customers feel compelled to engage with the business. Then there’s also the fact that digital coupons also encourage customer loyalty, but what makes them truly better than print ones is that the ease of their accessibility has proven to result in sky-rocketing conversion rates for businesses. With all those benefits on offer, the decision to invest in a digital coupon app for your business is vital.
- How? The decision to invest in anything must be a well-thought-out one.
So, to help you with yours, here are some ways in which digital coupon apps drive effective retail sales.
- Digital coupons have an edge by being on a mobile device. In fact, over two-thirds of customers admit that the discounts they get on their mobile devices impact their decision about where they buy what they want.
- Ensure high customer engagement via tailored deals, which means customers will end up with significant savings when they shop with the company.
- A study found that 9 of 10 millennials utilize coupons for shopping. So, with a digital coupon app, you get access to a highly attractive customer base.
The retail industry has had to contend with several challenges as technologies, along with their customers, continue to evolve. However, with a smartphone coupon app by your side, all of these challenges are no more insurmountable mammoths; instead, they become just a step on the ladder to exceptional growth.