22 Digital Coupon Statistics to Boost Your Business Sales (2023)

Are you looking for some interesting digital coupon statistics? If you are, we have got something for you!

Nobody can dispute the impact of coupons on customers’ online shopping habits.

With the help of coupons, brands target their customers to influence their purchasing decisions and turn them into devoted subscribers for their company by acting as a trigger to encourage their behavior.

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Also, most consumers have numerous discount and cashback offer apps installed on their devices to save money on their purchases.

It can be a green light for many consumers when they decide between products from different websites. Let us look at some of the best digital coupon statistics that can be useful for your online stores.

What Are Digital Coupons and How Do They Work?

According to bigcommerce.com, “Digital coupons are discounts, offers, and promotions offered by an online store to current or prospective customers.

Similar to their tangible counterparts, coupons are aimed at enticing a consumer to make a purchase at an online marketplace”.

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The most popular digital coupons have the same design as their paper counterparts, but instead of being sent in print, they are posted online or sent as an attachment with an email. Typically, recipients must print them themselves.

For manufacturers, this type of digital communication is frequently very cost-effective.

Digital Coupon Statistics: Everything You Know

Most Popular Types of Digital Coupons Used by Businesses?

• Downloadable coupons: Consumers can download coupons directly from an email, the corporate website, or social media. These coupons are frequently also available on mobile devices.
• Mobile coupons: To increase sales in this channel, e-commerce platforms with mobile applications integrated into their workflows provide mobile-only coupons.
• Coupon codes: This type of discount can be used at the point of sale more easily by the customer and is quicker than downloading a coupon. These codes are made up of a mix of brand-specific numbers and letters.
• Automated discounts: Because a customer doesn’t need to take any action to earn a discount, discounts automatically applied at checkout are growing in favor. They are effective for e-commerce businesses because they tempt clients with a discount offer, which lowers the rate of churn and shopping cart abandonment.

How Are Digital Coupons Changing the Game?

John Pemberton, who created Coca-Cola, is credited with creating the first coupon in 1889. He issued a coupon for a free glass of the elixir to each client on the list in an extraordinary display of marketing brilliance.

Throughout the subsequent century, coupons have mainly stayed the same with a few minor modifications. After some innovations, digital coupons are still revolutionizing the e-commerce sector.

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How Many People Use Digital Coupons?

In 2015, the number of US digital coupon users was 119.8 million.

This figure kept growing over the years, surpassing 126 million in 2016 and over 131 million in 2017. According to coupon statistics, the upwards trend continued in 2020, when 142.3 million Americans used coupons.

The coupon industry kept expanding throughout the year, projected to score 145.3 million users by 2021.

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Assessing a Discount

According to a series of coupon statistics compiled by Clean.io, 90 percent of people use coupons when they shop.

But discounts are not just as simple as giving people a percentage off and waiting for revenue to pour in. When creating a coupon, it is essential to assess the following:

• Do you have the inventory to handle extra purchases if the coupon is successful?
• Are you considering the percentage loss you will have to absorb if more people use the coupon than you expect?
• How do you plan to spread the word about your coupon or discount?
• What is the best way for people to redeem the coupon, and what other information can you glean from them (addresses, emails, etc.) to make the exchange a value proposition?

The Case for Coupons

Many business owners question the efficacy of coupons because some have experienced failed campaigns.

And plummeting sales in 2012. It is difficult sometimes to make people adequately aware of an offer, and because of this, it can seem futile to create the discount in the first place.

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Also, owners are wary that discounts can make their products seem cheap or have a lower intrinsic value. But, according to HelloWorld, 75% of consumers expect discounts/offers.

And 37 percent of consumers feel rewarded when they receive exclusive offers on products and services.

The Digital Coupon Revolution

Clipping coupons is quickly becoming a thing of the past. Today, digital coupons have dramatically changed the way people shop. The industry of deals is expanding.

Vericast survey results show that 71% of consumers use digital coupons. 

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Between 2017 and 2022, digital coupon redemption grew by over $47 billion, with over 50 percent estimated growth by 2025.

It represents a massive shift, with digital coupon redemption rising by around 90 percent in three years.

How Do Modern Customers Find Coupons?

Today, customers expect deals to be available online; over 50 percent prefer only digital deals, and 30 percent want them sent directly to their mobile phones. 

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Another fact you might not realize is that the hunt for deals is becoming more accessible thanks to online coupons becoming more available via websites like Raise or email campaigns.

Though deals can be easier to find, that does not mean people spend less time looking for them.

53 percent of consumers say they spend more than two hours per week looking for deals. Unsurprisingly, perhaps the parental demographic invests even more time, up to four hours per week. 

After receiving the offer, 82% of customers redeem it within a week, and 30% do so within 24 hours.

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The millennial generation is deeply invested in seeking out deals; if you aren’t offering something, you will be outdone by competitors.

There are many ways you can distribute your coupons that are gaining in efficacy online, including:

• Email: E-blasts are effective ways to send out specific offers, and with a streamlined mail platform, it is possible to target emails to particular customers. Nearly half of US millennial shoppers prefer receiving coupons via email, according to a CouponFollow survey.
• Social media: Over 70 percent of consumers say they have followed a brand to see if they can get discounts or deals. In the United States, among millennial shoppers.
• Loyalty programs: Over 90 percent of consumers will consider joining a loyalty program if it means a deal or discount. 60% of internet shoppers add digital coupons to their loyalty and frequent shopper cards. Only 40% of all clients behave consistently.

With all these methods, keeping your angle shifting and evolving is essential. You may find one way to gain new customers but don’t forget that customer retention can be as important as finding new ones.

Coupons and Revenue

For e-commerce businesses, digital coupons are necessary because they increase sales. For a variety of reasons, they are advantageous for online sellers.

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Statistics demonstrate that coupons and deals strongly affect consumer behavior, making them almost 50 percent more likely to consume faster than usual and 25 percent more likely to buy than they would otherwise.

It’s also crucial for brand recognition, with 86%of consumers saying they try new brands because of coupons. 

If they receive messages from them regarding discounts, 61% of consumers are more likely to buy a product.

Recommended Read: How To Run WooCommerce Flash Sales and Increase Sales?

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How Do Businesses Generate Sales from Digital Coupons?

• Coupons are simple to use
• Companies use online analytics to monitor their performance and return on investment
• They support raising conversion rates and decreasing cart abandonment
• Coupons encourage customers to make repeat purchases
• Manufacturer payments are made at a faster rate
• The technology ensures coupons are only used once, lowering denials and incorrect redemptions
• From the perspective of the consumer, digital coupons are more practical
• Because they are given digitally, they are economical and practical
• Companies can show their appreciation for their clients by giving them a voucher
• External auditing mechanisms ensure well-documented reporting

Coupons and Brand Loyalty

According to recent research, almost 70 percent of customers say coupons breed brand loyalty. They are enticed by exclusive offers; over 50 percent said they make them feel rewarded.

Slickdeals.net is the most significant coupon website, that generated almost 72.4 million visits in January 2023. Rakuten.net is the second most popular coupon website in the United States, generating more than 14.7 million visits in January 2023.

There are so many success stories regarding digital coupons that it would be foolish not to consider them when creating your next deal or initiative.

Ultimately, the question is how to best leverage your digital assets to craft the most far-reaching and valuable deal. And remember, unlike the days of the first Coca-Cola coupon, the industry is rapidly evolving.

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Wrapping Up

According to a recent analysis by a reputable company, redemptions of digital coupons will reach $90 billion by 2022, up from $47 billion in 2017. 6 out of 10 consumers prefer receiving digital coupons, according to another study.

Our projections show a phenomenal growth of 93.61% during the next five years.

So, it is a great time to start if you haven’t started promoting your business with coupons. It has great potential to drive sales. Don’t miss this!

We hope you found this article helpful and learned more about digital coupon statistics to help you with your business. If you did, please consider sharing this article with your friends and fellow bloggers.

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