Market experts argue that the use of promotional codes in the retail sector has been a success in 2018. So, many are hoping to build on their 2018 achievements in 2019. This will see their coupon marketing conversions reach a record high. Of course, there are certain changes expected in 2019 in the promo codes industry.
Here are 5 trends to watch out for come next year:
Even though paper coupons have been the most popular source of discount offers, this is beginning to change. A recent report shows that the current rate of redeeming digital coupons is 2.5% while that of redeeming paper coupons is 1%. In 2019, the rate is expected to improve, and this will see digital coupons commanding the industry more. One reason to explain this is the fact that that about 90% of users will be willing to share digital coupons online, more so on social media.
In 2018, most retailers who are using promo codes in their marketing campaign link a big fraction of their conversions to personalization. This is because customers generally like deals that are specificallytailoredto their individual needs. In 2019, more retailers will be investing in personalized codes so as to beat the steep competition and to enjoy more conversions.
Studies show that 1 out of 3 customers who use their mobile phones to shop are motivated by promo codes. The trend is expected to continue in 2019. We will see coupon sites that are not fully mobile become fully mobile. Another study by Juniper Research shows that 2019 will see the population of mobile coupon code users exceed the 1 billion mark. This is because more retailers will be integrating promo codes into their loyalty programs to encourage more conversions.
In the recent past, influencer marketing has been a common thing for e-commerce businesses. More celebrities, blogger, and market leaders are expected to partner with retailers to help distribute coupon codes in 2019. This is because they enjoy a commanding following online. At least 58% of current marketers believe that influencers will dictate the retail sector in 2019. So, they are currently looking for who to partner with come 2019 with their main focus being social media. They believe that influencers with a massive social media following assure them of improved conversions if they advertise their coupons.
Lastly, gone are the days when retailers would only use a single channel such as eBay or Amazon to promote their brands. Today, they are using multi-channel routes to create brand awareness and to distribute coupons. Therefore, more retailers are expected to use the channels in 2019 so as to woo the customers who like comparing prices before they can make a purchase.
Clearly, 2019 has more to offer in as far as the promo codes industry is concerned. Looking at the above trends, it’s undeniable that the sector will experience much improvement come next year. We can only wait to see the developments.