Coupons, call them 007 because they will never die. Coupons been around for decades. Just when you think shoppers won’t put in the effort or Everyday Low Prices (EDLP) will take over, coupons rise again.
Today coupons are still used by shoppers in full force, but they are becoming increasingly digital. Mobile apps like iBotta, Shopkick, and RetailMeNot are becoming popular because they allow shoppers to easily earn cash rebates through their mobile devices, making discounts more readily available and contextually relevant.
While the media of coupon delivery might be changing, one thing is for sure, saving money never goes out of style, and we expect that coupons will continue to adapt to the changing times. How will brands and retailers continue to define value for shoppers over the next ten years if price discounts are par for the course?
Part of the answer lies in changes to the way shoppers pay. Mobile wallets, such as Google Wallet and Apple Pay, are becoming increasingly popular. As our physical wallets begin to be replaced with smartphones, it seems natural that coupons will move to this system as well. As these trends continue to develop, brands and retailers will need to adapt to keep up.
Curious to learn how other shopping trends have evolved over the past ten years? Download our white paper, ‘10 Years of Shopper Culture.’