Mobile coupons are about to enjoy a major growth trajectory with redemption values set to reach $US43 million by 2016 according to the latest Juniper forecast.
In one way or another, the coupon has always played an important role in the history of retailing. It comes as no surprise, then, that the m-coupon – the modern answer to the cut-out-and-keep shopping vouchers of old – is enjoying a long-awaited moment in the sun. A new report from Juniper Research, the Mobile Coupons Whitepaper, shows that the total value of coupons redeemed via smartphones will reach $US43 billion by 2016, a redemption rate of 8%. This prediction could help bricks and mortar retailers regain some of the sales lost to e-commerce while encouraging them to make the m-coupon part of their multichannel mission.
“For the next few years, users will be signing up to multiple coupon schemes and deciding on the ones they like best — so now is a crucial time for mobile marketing agencies to get it right on behalf of their clients and establish a loyal customer base,” writes Juniper analyst David Snow in the report.
The report also suggests that the integration of mobile payment methods with mobile coupon redemption could also help give retailers the edge and confirms the importance of m-coupons to building customer loyalty.