Through a special arrangement, presented here for discussion is a summary of a current article from the bi-monthly e-zine, CPGmatters.
New research by Inmar Intelligence finds that 54 percent of all shoppers recently purchased a new brand because it was less expensive. However, nearly a third were influenced by a digital coupon.
The findings from Inmar’s 2021 Promotion Industry Trends Analysis and July Shopper Insights Study come at a time when higher grocery prices are causing shoppers to look for ways to offset the impact to their wallet. Digital coupons are proving to be a solution at the right time and right place.
Consumer adoption of load-to-card (digital coupons) has been on an upward trajectory since 2018, and surpassed free-standing inserts (FSIs), or paper coupons, in 2020. Through August 2021, digital coupons continue to lead in share of redemption volume, despite FSIs having nearly 20 times the distribution volume.
Specifically, according to Inmar’s analysis, digital coupon redemptions accounted for 33 percent of all coupon redemptions in the first half of 2021 compared to 24 percent for FSIs. Overall digital coupon redemption volume for 2021 year-to-date saw a 13 percent year-over-year increase, indicating continued and increasing strong demand for both savings and the convenience of digital coupons.
The new data also suggests that today’s shoppers are willing to try new brands — and these digital promotions are greatly influencing this decision.
July 2021 recorded the highest rate of brand trial year-to-date with 72 percent of all shoppers reporting that they made a new brand purchase. Eight-four percent of shoppers who used a coupon for a recent in-store purchase and 92 percent who used a coupon for a recent online purchase indicated that the coupon changed their purchase decision, leading them to either purchase more, purchase sooner or purchase a product for the first time.
“Shoppers are continually looking for value and savings, now more than ever and as their lives become increasingly digital, they are looking to digital methods to deliver savings,” said Spencer Baird, EVP and president, MarTech at Inmar Intelligence. “The flexibility, targeting, attribution and speed to market of digital incentives enable brands and retailers to meet both the needs of shoppers as well as their own objectives.”
- New Research Shows Strong Influence of Digital Coupons – CPGmatters
- New Inmar Intelligence Data Show Strong Growth In Digital Coupons, Which Significantly Influence Shoppers’ Decision To Try New Brands – Inmar Intelligence