In 1887, Coca-Cola released what is widely claimed to be the first marketing promotion that is now known as the coupon. It was a simple piece of paper redeemable for a free soft drink; it was designed to introduce a new product, acquire new customers, and overcome the barriers of awareness and price. The Great Depression solidified the coupon’s use as a staple for both brand manufacturers and families trying to make ends meet. Flash forward 123 years: a global recession, record unemployment rates, and cash-strapped American households cause a major resurgence in coupon usage.
With the upswing in coupon usage, we are again faced with the question, “Do coupons influence brand decisions at shelf?” According to data from the latest Checkout Study, the answer is yes. The influence of coupons on brand selection is enormous, with almost 9 out of 10 shoppers (86%) saying that coupons are at least somewhat influential on their brand decisions and 48% reporting that coupons are very or extremely influential.
The this issue of The Checkout delves in to the world of couponing and coupon users – who they are; how coupons fit into their lives; and more importantly, what brand marketers and retailers can do to meet their needs.
What do you think? Will shoppers continue to use coupons the same way when the economy improves?
Click here to download the The Checkout – Issue 3.10.