New post (The Emergence of Coupon Sites) has been published on My Emergency Preparedness Blog

By Naveen Kumar

The economic recession and stagnant wage growth for the last few years has turned the people to become price sensitive. This condition has forced many people to hunt for price saving measure and the outcome has been the development of coupon sites.  Although printed coupons have existed for many decades, the economic situation and technological comfort have pulled many shoppers into the coupon zone.  Almost everyone is looking for discounts, while shopping online or offline irrespective of the quality and the number of people who were looking for quality products reduced considerably.  The digital coupon has higher advantage in redemption than its counterpart paper coupon, so its redemption is higher in recent times. When we look at the coupon statistics for the last few years, we can grasp the alterations made by digital coupons in our shopping behavior.

How people are dragged into coupon zone?

Although the poor wage growth made people rely on coupon sites, the growth of e-commerce is another factor which increased the people’s dependency of coupon sites.  E-commerce had a global contribution of 3.3% in the year 2013 which helped people save billions of dollars and it is estimated that it will grow four times higher by the year 2023.  Retailers unveiled that the redemption rate of digital coupons is higher than paper coupons and the credit goes to simple redemption procedure in online shopping platform. In an average, the rate of digital coupon redemption is fourteen percent meanwhile the redemption rate of printed coupons is one percent. According to Packaged facts, the growth of coupon sites is highly influenced by the time spending online.  It further revealed that reading online circular regarding shopping is the popular activity that 62% shoppers do. It is followed by browsing digital coupons, 55% of shoppers are searching for coupons. The coupon had an immediate surge after the economic meltdown. The success of online coupon is because of its acceptance among wide array of people irrespective of income bracket and it is very obvious when we came to know that every 3 of 4 American shoppers are finding a way to save while shopping. Contrary to the popular belief, coupons are not affecting the income of the retailer and in fact it has increased the income. According to Chameleon John, a leading coupon providing site, people are purchasing an extra 30% with the saved money through coupons. With increase in smartphones shipment last year, it is expected that more digital coupons will be redeemed in following years.

 

The issues to be resolved soon

Digital coupon perishes the printed version however, it has some issues to be rectified otherwise, the online coupons will have to face downfall. Many online analysts predicted that all of the intrinsic issues are in preliminary stages. Most reported complaint is, some of the coupons did not redeem at checkout and ultimately it affects the loyalty of the customers. Convenience is prime factor for choosing online coupons, unlike shopping sites, the coupons have to be downloaded and have to be applied in the respective site to redeem the offer, it creates extra burden to the consumers before check out. This is the important issue in coupon sites which need to rectify soon. Other external threats are social media which pulls some of the consumers who rely on social media as immediate source. But it is not a major threat however, it can rectify by creating more convenience.

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The Emergence of Coupon Sites

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