Do coupons motivate consumers to make a purchase decision? Very much so, according to new research conducted by Forrester Consulting on behalf of WhaleShark Media, and active coupon users are more open to trying new brands, too.
When asked if coupons or coupon codes helped to “close the deal” when making a purchase decision a whopping 88% of consumers said yes, they do. In fact, 6 in 10 of the 504 study participants said they would be more likely to reconsider a purchase they had previously discounted if they received a coupon or discount code.
Another interesting finding is that participants in the study revealed coupons give them the warm fuzzies and are “brand-enhancing”. Most (88%) said they have a more positive feeling towards companies that give them coupons and 80% say it boosts a company’s image in their eyes.
And don’t for one minute think that coupon users have shallow pockets or stick to known brands. Those who use coupons the most were found to spend over $800 more each year than less active coupon users – $1,850 vs. $1,025. Furthermore, almost three-quarters (74%) of active coupon users could be persuaded to try out a new brand if they were to receive a coupon versus just over half (54%) of less active users.
“For online retailers, coupon users represent a large and powerful customer base with new ideas and high potential. As such, coupons must be a prominent aspect of any e-tail promotional strategy, offering online marketers a unique opportunity to reinvent the coupon in the minds of modern consumers,” said Matt Herzog of the Business Development Group at Rue La La and SmartBargains.