Coupons Are Highly Effective Sales Driver for Online Sales
One-third of online shoppers surveyed in Compete's recent "Online Shopper Intelligence" survey said they generally use coupon sites while shopping online. In April 2010, 35 million consumers visited coupon sites, up 5% from April 2009. Following are some specific data points relating to how online coupons affect consumer shopping behavior and retail sales.
Coupon Codes Can Make or Break a Sale
More than half of the consumers (57%) who used a coupon code during their last online purchase said that if they had not received the discount, they would not have bought the item(s). That indicates that coupons can be a highly effective sales driver and can be leveraged as such.
Consumers Who Use Coupons Spend More
Coupons seem to have a high ROI, the small discount consumers receive encourages them to spend money. When asked how much they spent on their most recent online purchase, consumers who used a coupon spent an average of $216. This figure is 56.5% higher than the average of $122 spent by consumers who did not use a coupon on their most recent online purchase.
Coupons Can Increase Customer Satisfaction
Coupons are an effective way for retailers to build good will with their consumers. When asked about their overall online shopping experience, satisfaction was about 4% higher for consumers who used a coupon (92%) than for those who did not (88%).
Coupons Can Increase Customer Loyalty
Consumers who used an online coupon said they are more likely to buy from the retailer again when compared to those who did not use a coupon. Consumers who used an online coupon said they are 91% likely to buy from the retailer again, about 5% higher than the 86% likelihood for consumers who did not use an online coupon. So not only will coupons encourage higher order value purchases, but they also increase that consumer's likelihood to purchase from that retailer again.[Source: "Online Coupons Impact the Bottom Line." Marketing Charts/Compete. 10 Jun. 2010. Web. 18 Jun. 2010.]