How Do Coupons Affect Consumers?
Discounts Reduce the Propensity to Shop Around Studies show that the offering of a coupon or discount can dissuade consumers from searching for the same product elsewhere. This is because discounts create a sense of urgency to purchase, which distracts shoppers from looking for other options.
How do coupons affect consumerism?
Coupons play a major role in helping consumers decide where they are going to purchase from. Coupons are a valuable tool for retaining existing customers and asking past customers to give your company another try. You can tailor your direct marketing offers to consumer behavior for the biggest impact.
Impact of Coupons on Consumers - Spectrum Marketing Companies
Coupons help marketers grow market share, increase sales volume, sell faster, cultivate loyal customers, and drown out competitor advertising. Coupons can encourage consumers to make a repeat purchase. Offer a discount on their next purchase, and you will be at the top of their shopping list.
How Do Coupons Help Marketers Sell More Product?
How do coupons benefit customers?
Coupons can help introduce new product lines and encourage customers to try a more profitable brand or service. Coupons can also help attract existing customers to come back to your store. The biggest con of using coupons is that they cost businesses money and may lead to lower profit for that sale.
The Pros and Cons of Using Coupons for Your Business
68% of consumers believe that digital coupons generate loyalty. If stores are to listen to consumers, they should probably look into digital coupon marketing. The majority of consumers believe that digital coupons can build brand awareness. The same share of respondents thinks that they generate loyalty.
Coupon Statistics - Is Couponing Growing or Slowing? - SpendMeNot