As Vito Corleone said in the 1972 classic film, The Godfather, “I’m gonna make him an offer he can’t refuse.” Well, if brands follow that same mantra, brand loyal shoppers can be swayed.
A new study from Valassis titled, 2K17 Coupon Intelligence Report, includes online responses from 1,000 consumers and focused on shopper behavior.
One of the key findings says that brand loyal shoppers can be persuaded.
“If the right deal presents itself, 79 percent of brand loyal consumers (self-defined) are influenced to buy a brand they wouldn’t typically have purchased due to coupon influence,” the study says.
Millennials are increasingly (94 percent) using coupons, compared to 88 percent in 2016.
The buying process does not end with a purchase: 53 percent of consumers scan receipts with a mobile device to receive cash back and/or points, providing a ripe opportunity to increase brand loyalty post-purchase.
What’s more, the study revealed that coupon use is holding steady with 90 percent of consumers obtaining them from a variety of online and offline sources.
“This finding is consistent across audiences, including various generations and demographic segments, such as millennials, multicultural consumers, and parents,” the study says. “Among coupon users, approximately 30 percent have increased their use of paper coupons (either from the mail or newspaper coupon book) and 36 percent have increased their use of paperless discounts (discounts received on a smartphone/mobile device and/or downloaded onto a store ID/loyalty card), further supporting coupon use from a multitude of sources.”
There is still significant opportunity to impact buyer behavior in store the study notes, with 86 percent of shoppers making a purchase based on a discount in the store. The buying process does not end with a purchase, as 53 percent of consumers scan receipts with a mobile device to receive cash back and/or points, providing a ripe opportunity to increase brand loyalty post-purchase.
“It is important for marketers to understand that the shopper journey is not defined at one specific point – the consumer can be influenced before, during and after the point of purchase,” said Curtis Tingle, chief marketing officer, Valassis. “Our research indicates that there is an opportunity for brands to influence how shoppers plan, where they shop and the products they buy – which can be achieved by dynamically targeting the right audiences with a strategic combination of print and digital incentives.”
Here are some other key study findings:
Preferred sources of coupons and discounts:
Mail ranks as the most preferred way to obtain coupons with 44 percent of consumers preferring this channel.
Smartphones/mobile devices recorded the greatest increase with 32 percent of consumers preferring this method versus 24 percent in 2016.
Brands and marketers can influence consumers during multiple stages of their path to purchase:
At Home: 82 percent of consumers switch stores to take advantage of weekly specials and 67 percent decide which store to shop based on where they can use paperless discounts received via mobile devices.
In Store: 81 percent of shoppers search for deals via in-store circulars while shopping and 51 percent make a purchase based on a mobile notification received in store.
After Purchase: There is a tremendous social currency post-purchase; among mobile coupon users, 79 percent share brand reviews, along with information about product savings, with family and friends following a purchase.