As we approach the online holiday shopping season many websites owners are wondering about the value of offering coupons and discounts. While some think that it can devalue a brand, we have found that it actually helps generate additional traffic and sales.
A survey conducted by eAccountable in conjunction with our market research partner Clear Vision Research, provided valuable insight into consumers’ shopping habits as they relate to coupons, offers and cashback promotions.
Our findings show that online coupons and deals are being used by those who can more easily purchase without discounts – the affluent. The survey found higher income shoppers – women and those making above $100k per year – are more likely to use online coupons to find better deals.
Respondents with an annual household income over $100k searched more than one website to find the best deal before making a purchase. These online shoppers were also more likely to join a cashback, reward or loyalty website to get discounts. In the last 12 months, 69% of respondents said they used an online coupon to make a purchase. When looking at just the higher income respondents with yearly household incomes exceeding $100k, that figure jumped to 86%.
Over 1,500 consumers responded to the survey, which was conducted for one week during the height of the December 2012 holiday shopping season. There was approximately a 50/50 between male and females. Read the entire report here.
The majority of those surveyed use online coupons and the report shows that offering online coupons and deals do not cheapen a brand. Rather, merchants can attract a desirable demographic with significant buying power, by giving customers deals on their own website and through affiliate cashback, deal, offer and coupon sites these retailers and merchants work with.
This research highlights just how much consumers value cashback, deal, offer and coupon websites and significant impact on the retail channel. Whether the growth of online cashback, deal, offer and coupon usage was a result of the economic times, a flashback to offline usage or any other factors, the message was clear – discounted deals are here to stay.
So, as you prepare for the 2013 holiday shopping season be sure to include and promote offers and deals with special landing pages and you’ll likely find that Q4 ends up being a very Merry Christmas for your bottomline.
Durk Price is the Founder and CEO of eAccountable, a Denver-based digital performance agency specializing in retail representation for clients including managing affiliate marketing, performance marketing, search, email, and social media campaigns.