The digital world is rising enormously which has also effected a lot of sectors, including the ones, offering digital coupons.
A recent research by Juniper Research predicts that the number of coupons issued via mobile and online channels will grow significantly in the coming years. The study has revealed this number will reach 362 billion in the coming five years, which counts to more than 60 per cent growth of the current figures. Currently the figures of digital coupons issued via mobile and online channels are 224 billion.
Juniper Research is one of the organizations that provide research and analytical services to the global hi-tech communications sector. It has been providing consultancy, industry commentary and analyst reports to players in this sector for better working, understanding and implementation.
As per the study, Mobile & Online Coupons: Loyalty & Beacon Engagement 2016-2021, it is stated that social media and use of bots will be the core drivers of the customer engagement and coupon delivery. According to the research it has been found that the growth in digital coupon volumes can majorly be credited to a larger retailer prominence on the proviso of highly targeted and adapted offers to consumers.
According to the research, personalisation and innovation will act as the key for this boom. It states that brands will increasingly deploy artificial intelligence applications which will efficiently interact with patrons via social media and messaging applications.
The research alludes to Domino’s Pizza and Iceland Air as companies that have made use of this strategy before now. In the interim, mass adoption of social media has resulted in a number of dedicated coupon aggregators operating within that space. Some of these include players such as PennyCat in North America and Coupy in India.
The research brought to notice that one of the major hurdles was the need for consumers to have opted for online engagement with a brand or retailer. The mode of this online engagement would have been either through installing a store’s application on a smartphone or by following the respective brand or retailer’s account on social media.
In addition, Lauren Foye, the research author, pointed out that beacons enable retailers to collect and utilise a raft of valuable, relevant data points. According to her, one of the major tools for retailers is, knowing their customers. Tracking user movements in store via beacons can aid in providing invaluable data and statistics to a company, which, then later can be applied to drive sales. Beacons can also allow for targeted marketing and offers.
The research disagreed that with some beacons, allowing a wider range of online engagement channels including web browser interaction, retailers will have a far more encompassing product moving forwards.
However, the research disagreed that retailers will have a far reaching product moving forwards with some beacons (such as Google’s Eddystone) which allow a wider range of online engagement channels including web browser interaction.