Inflation Driving Record Shopper Demand for Digital Coupons
New Inmar Intelligence research indicates digital coupons have increased their lead over all other redemption methods by 10 percent
Inmar Intelligence, a leading applied data platform company, today published findings from its 2022 Promotion Industry Analysis, which found that digital coupons held a 34 percent share of redemption versus free-standing inserts (FSIs), which came in second at 24 percent. This is the second year in a row that digital coupons have led in redemptions.
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With the 7.9 percent increase in the Consumer Price Index announced in February 2022, and continuing supply chain challenges, shoppers are looking for savings today more than ever. Nearly one-third of shoppers increased their coupon usage in 2021 and 54 percent did so because of financial pressures. It’s clear the pandemic and inflation surges throughout 2021 continue to adversely impact shoppers.
Based on the Promotion Industry Analysis, these shoppers are turning to digital coupons over other savings options, with 72 percent of shoppers reporting they used a digital coupon in-store. In fact, there was a 13 percent increase in digital coupon redemption in 2021, as inflation started to take hold. Brands reacted swiftly to the increased shopper demand and increased digital coupon distribution by 28 percent in 2021.
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“Our data shows that shoppers are increasingly concerned about price increases and their effect on household budgets,” said Spencer Baird, EVP, President of Inmar’s Martech division. “There are pressures on families from many angles right now, and the brunt of these price increases is hitting shoppers’ wallets. This is accelerating the trend toward digital coupons as more and more shoppers use their mobile devices to find discounts online and in-store, a habit which we expect to continue throughout 2022 and beyond. It’s critical for brands and retailers to accelerate their incentive strategies in 2022 to meet the needs of the shopper in order to capture and maintain their loyalty.”
Additional findings from the 2022 Promotion Industry Analysis will be released in an upcoming webinar on April 20, 2022, at 2:00 pm ET. As shoppers face higher prices, and a shortage of their favorite products, coupons have become an increasingly important tool for retailers and brands. During this webinar, Inmar will be sharing 2021/2022 promotional data and analyses focused on coupon distribution, coupon variables and shopper habits. Click here to register!
For decades, Inmar Intelligence has played a critical role in helping retailers meet the needs of their shoppers. While the pandemic accelerated the evolution of consumer buying behavior and trends, leaving some businesses flat-footed, Inmar Intelligence’s platform is designed to help manufacturers and retailers meet these changing demands. With a technology infrastructure designed to execute artificial intelligence at scale, Inmar Intelligence generates actionable insights to better inform planning decisions, and integrates activation tools to engage with shoppers at every stage of the shopper journey.
