New Report Tracks the Rise of Digital Promotions Against FSI
Using our exclusive retailer sales data and first-party purchase intent data, we examined the rise of digital promotions over the traditional print FSI, the top digital promotion trends that are impacting business results today and actionable strategies that brands can implement to capitalize on this new opportunity.
While the coupon industry was already shifting from print to digital long before the pandemic, COVID-19 accelerated the adoption of online promotions at an incredible rate. In part, this is due to the recent shift to online. But consumers are also looking for savings during COVID, and coupons are a great way for consumers to seek value.
Evolving Consumer Behavior and Expectations
While coupons were once an exclusively print medium, the way that consumers seek value has evolved over the years.
We live in a digital era where online coupon activations have increased by double digits consecutively for the last seven years, with a compound average growth rate of 55% year over year (Quotient Internal Reporting, January 2013 – October 2020). Additionally, the share of digital coupon redemptions (29%) outpaced the share of the most common type of paper coupons redemptions (27%) for the first time in 2020.
Ultimately, digital promotions offer a greater range of reporting, enable brands to deliver strategic value at scale and are more effective and efficient at targeting consumers—all while offering personalization, flexibility and choice in where and how consumers save money.
Become Part of the New Wave of Digital Promotions
Value has become an increasingly important driver for consumers. As print promotions decline in circulation, consumers continue to opt for digital savings as a result of their convenience, efficiency, personalization and more. Brands can fill this need by taking advantage of the precise targeting, agility and flexibility that digital promotions offer over their legacy print counterparts.
For even more information about Quotient’s strategic approach to the digital future of coupons, check out our National Promotions Platform.