In e-commerce, digital coupons are online banners that contain a code, usually with letters and numbers, which serves to provide some type of discount or advantage to the consumer, thus increasing the desire to purchase a product in your virtual store.
Digital coupons work very simply. Right after placing a product in the virtual cart, the store interface displays a form field where the consumer can enter the coupon code. Thus, the discount is applied and the consumer can complete the online purchase normally.
Thus, through coupons you can offer discounts of 5%, 10%, 20% or other value. It is also possible to offer R$5, R$10, R$20 or other OFF value to the consumer so that he is interested in making a purchase. In addition, one can use the feature to offer free shipping and other benefits.
It's worth mentioning that this feature is becoming a trend in e-commerce. To give you an idea, the global digital coupon market was valued at over US$4,67 million in 2020, according to a report by Transparency Market Research . The same report estimates that this market will grow at a CAGR of 18,6%, thus exceeding US$29,7 billion by the end of 2031.
This growth trend alone is a good argument for you to start offering digital coupons to consumers for purchases in your online store. But this is not the only reason. There are a number of reasons why using this feature in e-commerce can be a great idea. Keep reading and learn more!
WHY USE DIGITAL COUPONS IN E-COMMERCE?
In addition to being a trend, the digital coupon generates other benefits for an e-commerce like yours. For example, through this feature you can drive more purchase decisions, gain greater brand awareness and reach new customers.
In general, digital coupons allow you merchant:
Increase your online sales:
- 59% of consumers say that out of all the different types of promotions a retailer can employ, digital coupons still influence them the most when it comes to generating a purchase decision, as per Invesp infographic data.
Increase the average ticket:
- 77% of consumers spend $10 to $50 more than anticipated when redeeming mobile coupons, according to the aforementioned Invesp infographic. That is, in addition to generating more purchase decisions, digital coupons generate larger purchases.
Improve the efficiency of your Email Marketing:
- 14% higher is the open rate of emails with digital coupons. Additionally, this type of email generates 34% more clicks and a 17% increase in transaction completion rate. Ultimately, it generates a 48% increase in revenue per email sent, according to Invesp data.
Generate more brand awareness:
- 68% of consumers believe that coupons create brand awareness, according to data from Invesp's infographic. That is, this feature allows people to increase awareness about your e-commerce brand.
Reach new audiences:
- 89% of millennials would buy a new brand if offered a coupon, as Statista quoted by Spendmenot. This generation, that is to say, is made up of people who grew up with the internet and who, therefore, are used to shopping online.
Generate greater loyalty to your brand:
- 70% (approximately) of customers say that coupons generate brand loyalty. These customers are attracted by exclusive offers, according to Blogheist data. Furthermore, over 50% say these types of offers make them feel rewarded.
As you can see, digital coupons provide a great improvement in the performance of your online store. But not only that, they can also improve your omnichannel sales. So don't wait any longer. Start using this feature right now!
As soon as you can, click on “ E-commerce discounts ” and find out how they affect online shopping decisions!
