The coupon industry has been dominated by paper ever since its inception. The last decade opened up the digital coupon space – for example, online coupons that can be printed out and used in stores. As the mobile industry continues to grow and accelerate, it has the potential to make paper coupons obsolete. More people are using smartphones and it gives them the ability to store mobile coupons in their devices and conveniently access it at any time.
As of 2012, almost 90% of all coupons were still being distributed via coupon books, with some even being distributed in newspapers. While print coupon redemption rates still hold strong at 84%, it’s evident that there is a huge market in distributing coupons. To this day, digital coupons that have been added to customers’ store loyalty cards or “click-to-card” only make up 1% of coupons distributed.
The number of users accessing coupons through desktop is closely reaching its maturity. Users storing and redeeming coupons through their mobile devices/smartphones is in its infancy – meaning there is a huge upside potential for distributing mobile coupons. By 2014, it is estimated that there will be 47 million US smartphone users using mobile coupons. As consumers turn toward mobile solutions, businesses should be ready to meet this demand. The days of clipping coupons are over.
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By Wendy Chan
