Mobile coupons to smash 10 billion redemptions this year
The increasing mobilisation of the High Street has been graphically illustrated in a new report conducted by Juniper which found that 10 billion coupons have been redeemed this year, a 50% increase on 2012.
It found that innovative retailers are increasingly embracing mobile as a means to drive footfall and whilst enhancing consumer engagement and retention.
Although mobile still accounts for a comparatively low volume of coupons issued they have a high redemption rate of 10%, more than ten times higher than print media and PC coupons.
Key findings from the report include the importance of incorporating a time-based element so that retailers were better able to meet demand. Apple’s Passbook is expected to act as a further catalyst to coupon adoption and the potential bottleneck posed by retailer reluctance to upgrade point of sale terminals.
Report author Dr Windsor Holden pointed out, “While we’ve heard that online retail is killing the High Street – witness United Retail filing for Chapter 11 bankruptcy in the US and the recent administrations of Jessop’s and Blockbuster in the UK – mobile offers a means of engaging with the consumer at every point in the retail lifecycle, from product discovery to product purchase.”