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COUPON CODES Latest Trends
& Statistics 2024

Why and How Digital Coupon Codes Really Work?

It all started in 1887 when Coca-Cola’s owner, Asa Candler, employed a hand-written coupon for his company. With this coupon, customers could get free drinks. This tactic accelerated the growth of the company and made it a giant in the beverage industry. Coca-Cola ended up giving a total of 8,500,000 free drinks to one in nine Americans from 1894 to 1913.
From then till today, coupons are still loved by customers. While customer behavior has evolved significantly over the years, customers’ attraction toward coupons has remained unchanged. Of course –this isn’t a mere assumption as coupon statistics back this statement. The popularity of coupons means you can get coupons on everything from flight tickets to fashionable clothing items. The psychology behind them is simple - people love to save money. Even Americans with their irresponsible spending habits, like saving some cash. What’s more, even if you go through raw data, it’s clear that coupons make people happy. A study shows that coupons increase oxytocin markers by 38% while another reveals that 80% of shoppers feel smart when they use coupons.

Coupons in Statistics

Upto 90% of consumers use coupons in some way

According to Valassis, 90% of customers use coupons in one way or another. The coupon statistics from 2021 reveal the number of adults using coupons is 145 million. Juniper Research further predicts that the redemption of coupons is going to increase to $91 billion within the next three years. Orian Research says that the use of digital coupons will rise by 56.5% by 2025.

It is also expected that this year users will expand to 1.05 billion. Online coupon stats show that by 2022, mobile coupons will make up 80% of the redeemed coupons. “SMS remains a vital channel in reaching consumers, whereby a phone number acts as a unique ID in delivering one-time offers,” says research author Lauren Foye.

$91 Billion Total Expected Coupon Code Redemption by 2022
2.04 Billion Expected Users Worldwide in 2022
94% is the rate by which digital coupon redemption rate is expected to increase in 2022

Users in US

25 million Americans use coupon apps to save money each month
134 million Americans use mobile coupons this year. Almost half of all mobile users
289 million Americans would have redeemed a coupon once in their life by 2022.

About 42 million Americans make use of coupons. According to CreditCards.com, 85% of Americans use coupons. Compared to 2014, coupon usage will show an increase of 88% in 2020. The use of mobile coupons is projected to increase with customers.
As per IndoorMedia, coupons were most used for pizza, oil changes and fast food. 50% of affluent shoppers use coupons to save money. Many customers also use coupons to cut prices on luxury shoes and essentials from stores from different stores..
VoucherCloud statistics show that 57% of customers made a purchase from a brand not tried before on being offered a coupon. 91% of these individuals purchased from the same retailer again.

COUPON INSIGHTS

COUPON INFLUENCE IN PURCHASE BEHAVIOUR

How customers use coupons - Hawk Incentives revealed that 97% of customers search for deals when shopping. Similar statistics of coupons reveal 86% of millennials say that deals impact their buying decisions.

Age of customers who use coupons - 96% of baby boomers are likely to make use of coupons, 91% of generation Xers are likely to use coupons and 87% of millennials contribute to coupon usage.

Interests of customers who use coupons - As per IndoorMedia, coupons were mostly used in industries pizza, oil changes and fast food. 50% of affluent shoppers use coupons to save money.

Demographic facts about couponers - Compared to non-college educated people, college educated individuals are 78% more likely to use coupons. People who have an annual income higher than $100,000 are 2x more likely to use coupons.

48%
Purchase Soon
According to Kelton, 48% of consumers say they’re more likely to make a purchase sooner than normal to use an offer
25%
Spend More Overall
According to a study by Inmar, 83% of the consumers are of the view that coupons change their buying behavior
41%
Seek Out Something to Buy
A survey shows that 39% of customers would purchase from a brand that they otherwise wouldn’t from if a coupon is being offered.
38%
Purchase a More Expensive Product
Kelton shows that 28% of customers are willing to buy a costlier product when offered a coupon
37%
Purchase More Item than Normal
Deal Nerd reveals that couponers make 24% more expenditure than normal shoppers
38%
Buy Something They Don't Need
Coupon stats of 2020 show that 80% of diners are willing to try a new restaurant if there is an on-going deal being offered. 54% responders in a survey by Chainstoreage say coupons can lead them to make impulse purchases.

Coupons and Customer Loyalty

50% of Customers Visit a Store

50% of customers visit a store if they are being offered a promo code or coupon as per ReadyCould. This shows that coupons motivate customers to purchase.

57% of Customers Try a New Product

VoucherCloud statistics of the coupon industry show that 57% of customers made a purchase from a brand not tried before on being offered a coupon. 91% of these individuals purchased from the same retailer again. 61% of buyers say coupons can inspire them to buy new products.

69% of Customers are Influenced by Loyalty Programs

The presence of a rewards program impacts customers’ buying decisions as 69% of customers let such a program influence their purchase decisions.This shows coupons and customer loyalty are strongly related.


How Many People Use Coupons?

Statista’s coupon redemption figures estimate that around $142 million people used coupons in 2020. This number increased to $145 million in 2021. This number is expected to touch $145 million in 2021. Compared to this, the usage of promo codes by adults was $119 million in 2015.So if you analyze the raw data –it’s certain that more and more businesses are using coupons as a promotional tool to a great degree of success.

Although most insights on coupon code show women to be savvy shoppers and men are portrayed as clueless customers – redemption statistics reveal male shoppers are becoming a lot more frugal. In a coupon research, 89% of male respondents clear that they used email coupons 2020.


Can Coupons Get You New Customers?
Studies published on consumer behavior establish that 80% of customers are more willing to buy from a new brand if a discount is on offer. Insight discount code and others go a long way in convincing first time buyers to make the purchase.


Does Free Shipping Impact Buying Decisions?
Wall Street Journal offers an interesting insight about coupon codes. The publication states that consumers are five times as likely to make a purchase if they’re offered free shipping. In fact, people would rather buy a $5 product with a free shipping coupon than a $2.5 product with $2.5 shipping free. This shows the effectiveness of free shipping as a promotional tactic.


Coupons Distribution Channels

Email
Latest stats of promo codes reveal 93% of people are likely to use the coupons they receive via email. 95% of women are likely to use the coupons they get via email. 40% of the people are likely to share a deal received on email with their friends.
SMS
Six in 10 people sign up for mobile messaging for receiving coupons as per the latest coupon user statistics. 75% of millennials prefer text messages for receiving promotional messages.
Discount Apps
64% of customers download a bank brand 64% of customers download a bank brand app to receive exclusive coupons according to the latest stats of the coupon industry. 41% of the people who use the internet have restaurant apps to be a part of loyalty programs.
Personal Touch
22% of consumers ask their personal network (friends and family) for deals while shopping as reported by Hawk Incentives. The institution further reports 38% of shoppers consult their peers before deciding to make a purchase.
Newspaper
74% of people review print ads for finding deals. Usage of paper coupons is popular among 91% of millennials. 57% of consumers who shop from multiple channels use print coupons more.
Social Media
77% of consumers follow a brand on social media to stay in touch with the latest offers. 67% brands use social media to announce flash sales and coupons. 76% of online shoppers have used social media to find coupons in 2020.

Emerging Technologies


Digital coupon statistics by Juniper research reveals the IT industry will play a major role in how people receive discounts moving forward. Three technological advancements are the future of coupon marketing which includes chatbots, QR codes, and invisible payments.

Invisible Payments
In 2017, $9.8 billion were processed in transactions through invisible payments. According to Juniper Research, by 2022 $78 billion in transactions will be processed via invisible payments.
Chat Bots
64% of Americans prefer chatbots because they serve them 24 hours long. 37% communicate with a chatbot to receive a quick response. 15% of American adults have interacted with a chatbot.
QR Code
A June 2021 survey relieved that 45% of respondents in the USA had used a QR Coupon Code three months leading up to the survey. 59% of respondents believed that QR codes would be a permanent part of the mobile shopping experience in future.

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