Coupons and personalization are like PB&J…they just go together
Consumers expect personalized offers
Personalized offers are a must for a successful retailer’s coupon distribution strategy. As you may recall (you know, because you memorize all these awesome posts :-)) I mentioned this trend last year, and it has only grown since then.
The proof is in the pudding (or the coupons)
A new 2018 Inmar Shopper Behavior Study reports that 53% of shoppers want personalized offers based on their purchasing habits. This is up 23% just since last year. Think about that for a second. It means that shoppers value coupons, they use them and that they aren’t creeped out by personalized coupons. In fact, shoppers WANT personalization.
Also, worth noting, 89% of shoppers make a list at home before even stepping inside the store, so retailers need to consider the entire planning phase before they offer coupons. Comparing their list against a budget is more possible than ever before with the convenience of online circulars, and the numerous digital coupons available, which ultimately drive what makes it into the cart.
Consumers look for deals
In another study called the 2017 RedPlum Purse String Survey from Valassis, over half of consumers indicated they invest two hours or more a week looking for deals across all channels. And, 41% of respondents who take advantage of deals said they use an equal mix of digital and print coupons.
Inmar claims that retailers who emphasize coupon distribution will have a greater chance to sway a consumer into making a purchase in their favor. I know you’ll be shocked to hear that I agree!
Getting it right
Even better for retailers who get it right, coupons effectively disrupt pre-planned shopping decisions with 83% of redeemers confirming that coupons made a difference in their purchasing behavior. It also makes sense that 38% of them bought more than they would have otherwise just because of a coupon.
I do this. ALL. THE. TIME. I may not really need to buy something at CVS, but I feel compelled to use the print coupon that was mailed to me (based on my shopping habits, of course) for $5 off cotton balls and deodorant before it expires. Why? Because, obviously, it’s a deal, and you can never have too many cotton balls.
Retailers should make it a mission to create a deeper connection with proactive, personalized offers before, during and after a purchase has been made. As mentioned already, 53% (over half) of consumers say they want relevant offers based on their habits.
Hands down, shoppers expect retailers to understand what they buy and to predict future purchases. With this type of strategy, retailers will gain loyalty and secure repeat visits from customers who appreciate personalized offerings.