Coupon Statistics

Coupons are shaping consumer behavior worldwide; from paper coupons to digital code coupons, they have undergone significant changes and experienced renewed popularity in the internet era. You might want to know more about this evolving coupon market.

Hence, we've gathered some of the latest coupon stats to be aware of. 

Let's take a look at the general stats below.

Coupon Statistics Highlights

1. In 2020, 92% of shoppers looked for special offers and coupons before buying online.
2. When redeeming coupons, 77% of consumers spend $10 to $50 more than they had initially intended.
3. 90% of US consumers used coupons in 2020.
4. In 2019, consumers redeemed about 31 billion eCoupons globally.
5. More than 60% of smartphone users are highly likely to make a purchase after receiving a discount coupon.

Coupon Statistics - Key Statistics

Now let's dive into the stats a bit deeper.

In 2020, 92% of shoppers looked for special offers and coupons before buying online.

(fortunly)

Discounts and coupons hold a special place in every eCommerce store's strategy. They help to increase conversion rates, drive customers' attention to specific products and boost revenue. Based on a recent report by fortunly, 92% of shoppers searched for coupons and special deals before purchasing something online in 2020. This survey was conducted among US shoppers, showing that only 8% rarely or never look for coupons when shopping online.

When redeeming coupons, 77% of consumers spend $10 to $50 more than they had initially intended.

(Spendmenot)

Most consumers are very coupon-oriented when making a purchase, and they usually end up spending more money than they originally intended. In 2021, online shoppers who use coupon codes were predicted to spend 24% more than shoppers who don't. In addition, retailers with a coupon marketing strategy see 26% higher average order values from their customers. This high percentage of coupon users shows that brands are incentivized to gamify their shopping experience.

90% of US consumers used coupons in 2020.

(spendmenot)

Coupons have become a popular and widespread marketing strategy. It makes shopping more worthwhile for buyers as they cut down prices. Over 90% of consumers have used coupons in some way or another. Modern consumers always look for good deals on products they're looking to buy, and coupons help them achieve this goal. Coupons play an essential role in attracting customers, enabling cross-sell, and promoting products more effectively than ever. 

In 2019, consumers redeemed about 31 billion eCoupons globally.

(Invesp)

In 2014, the estimated number of redeemed digital coupons was 16 billion, meaning the number of used eCoupons nearly doubled in only five years. The same applies to mobile coupons having 650 million mobile coupons redeemed around the world in 2014. Five years later, in 2019, this number reached 1.05 billion. More than 57.5% of US internet users had redeemed a digital coupon or code at least once in 2016.

More than 60% of smartphone users are highly likely to make a purchase after receiving a digital coupon.

(Invesp)

There has been an increase in the preference for digital coupons. It has become vital in eCommerce, where consumers try to get the best deals. In fact, 60% of mobile users love receiving digital coupons, and 50% are more likely to go to a store if they have a coupon. Digital coupons are more effective than any other promotion when it comes to influencing a customer's decision to purchase.

The global mobile coupons market is expected to reach $14.8 trillion by 2027.

(Market Research)

The global market for mobile coupons was estimated at $393.1 billion in 2020. These numbers were significantly affected by the COVID-19 pandemic. As of now, the global mobile coupon market is expected to reach $14.8 trillion by 2027, trailing a compound annual growth rate of 67.9% over the period from 2020 to 2027. These stats show coupons and discounts are essential to shopping decisions and experience.

25% of consumers avoid shopping online because they can't use coupons.

(Valassis)

Not taking advantage of in-store deals also affects shoppers when deciding whether to shop in-store or online. According to recent stats, approximately one-fourth of grocery buyers skip online shopping because they can't utilize coupons to obtain better deals. And about 69% of shoppers choose where to get their groceries based on whether they can take advantage of digital couponing.

Additional Coupon Statistics

• 68% of consumers believe coupons build brand awareness, and 68% also state coupons generate loyalty.
• 5.3 billion coupons will be redeemed using QR codes by 2022.
• 61% of all consumers in 2021 used apps developed directly by grocery stores, mass stores, and supercentres.
• Online buyers who use coupons spend 24% more than those who don't use them.
• 39% of shoppers decide to buy a product sooner than planned if they have a coupon.
• According to the latest stats, the average coupon redemption rate in the US was 0.77%.

Wrapping Up

As you can see in these latest coupon stats, coupons are an efficient way for shoppers to save money. They are constantly searching for coupons and good promo deals for items they need. Paper or digital, acquired from social media, emails, or apps, coupons will persevere as one of the most popular and profit-generating marketing tools. 

Hence, Coupons will always be a leading force in the marketing industry, connecting brands, and customers.

That's all for now. See you at the next one.

Sources

https://fortunly.com/statistics/coupon-statistics/#:~:text=In%202020%2C%2088%25%20of%20US%20shoppers%20used%

https://spendmenot.com/blog/coupon-statistics/

https://www.invespcro.com/blog/digital-coupon-marketing/

https://fashiondiscounts.uk/coupon-statistics/

https://balancingeverything.com/coupon-statistics/