Skip to main content

How the Mobile Channel will Boost Coupon Redemption

Smartphones are increasingly viewed by savvy marketers as a critical enabler -- not merely of ubiquitous connectivity and interactivity, but as a means to engage in a meaningful way with their customers and prospects.

From a marketer's perspective, the fact that smartphones are personal and ever-present with their owner -- and that those owners are interacting with their device constantly -- presents them with an opportunity.

To the informed marketer, mobile is no longer merely a channel through which to sell goods remotely, but a series of related channels through which their relationship with the customer can be nurtured and developed over time.

This is a basic principle of multi-platform marketing communication. The approach can transform legacy marketing practices -- such as the process of offering a discount coupon for redemption -- via the creative application of mobile devices.

According the the latest global market study by Juniper Research, they now forecast that there will be 1.05 billion mobile coupon users by 2019, that's up from just under 560 million in 2014.

The surge in user numbers would be driven by increased retailer engagement with the various mobile channels. Retailers are now integrating coupons into loyalty programs to a far greater extent, while focusing on delivering coupons direct to consumers -- rather than relying on aggregator sites.

At the same time, Juniper observed that mobile coupon deployments were benefiting from retailers restructuring their businesses to reflect the wider transition to the utilization of online engagement channels.

It noted those retail businesses are becoming more agile, more efficient and able to implement change more rapidly than would have previously been the case -- prior to the progressive adoption of the mobile channel.


Mobile Technologies that Boost Coupon Redemption

Meanwhile, Juniper has argued that while the use of MMS for couponing was expected to cease, disruptive technologies such as Near Field Communications (NFC) and in-store beacons had the potential to boost mobile engagement in the medium term.

"While NFC has failed to achieve traction thus far, the emergence of a cloud-based secure element through HCE (Host Card Emulation) is likely to stimulate greater integration into wallets. We believe that this in turn will provide the visibility that should encourage brands to run campaigns using the technology," said Dr Windsor Holden, research director at Juniper Research.

Other key findings from the study include:

  • Geo-Targeting has provided SMS-delivered coupons with a new lease of life, with retailers seeing high redemption rates from coupons pushed to consumers near their stores.
  • Brands are increasingly leveraging the retail database to deliver targeted coupons.
  • Lack of adequate point of sale (POS) redemption technology remains the key hurdle to greater deployment and adoption.

Popular posts from this blog

Industrial and Manufacturing Technology Growth

In an evolving era of rapid advancement, market demand for innovative technology in the industrial and manufacturing sectors is skyrocketing. Leaders are recognizing the immense potential of digital transformation and are driving initiatives to integrate technologies into their business operations.  These initiatives aim to enhance efficiency, reduce costs, and ultimately drive growth and competitiveness in an increasingly digital business upward trajectory. The industrial and manufacturing sectors have been the backbone of the Global Networked Economy, contributing $16 trillion in value in 2021. Industrial and Manufacturing Tech Market Development   This growth represents a 20 percent increase from 2020, highlighting the resilience and adaptability of these sectors in the face of unprecedented challenges, according to the latest worldwide market study by ABI Research . The five largest manufacturing verticals -- automotive, computer and electronic, primary metal, food, and machinery -

Rise of AI-Enabled Smart Traffic Management

The demand for smart traffic management systems has grown due to rising urban populations and increasing vehicle ownership. With more people and cars concentrated in cities, problems like traffic congestion, air pollution, and greenhouse gas emissions are pressing issues. Since the early 2000s, government leaders have been exploring ways to leverage advances in IoT connectivity, sensors, artificial intelligence (AI), and data analytics to address these transportation challenges. The concept of a Smart City emerged in the 2010s, with smart mobility and intelligent traffic management as key components.  Smart Traffic Management Market Development Concerns about continued climate change, as well as cost savings from improved traffic flow, have further motivated local government investment in these advanced systems. According to the latest worldwide market study by Juniper Research, they found that by 2028, smart traffic management investment will be up by 75 percent from a 2023 figure of

AI Software Market will Reach $251 Billion

The growth in Artificial Intelligence (AI) software could lead to many benefits. As more organizations adopt AI, they may become more efficient, productive, and able to offer improved products and services. The global job market could also expand, with demand growing for roles like AI engineers and technicians. Plus, AI apps could enable breakthroughs in fields like healthcare, transportation, and energy. The worldwide AI software market will grow from $64 billion in 2022 to nearly $251 billion in 2027 at a compound annual growth rate (CAGR) of 31.4 percent, according to the latest market study by International Data Corporation (IDC). AI Software Market Development The forecast for AI-centric software includes Artificial Intelligence Platforms, AI Applications, AI System Infrastructure Software (SIS), and AI Application Development and Deployment (AD&D) software (excluding AI platforms). However, it does not include Generative AI (GenAI) platforms and applications, which IDC recent