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Monday, March 19, 2012

Mobile Coupon Use to Increase to 300 Million Users

Mobile coupons have been growing in popularity, but I was surprised to learn that a report released by Juniper Research is predicting that over 300 million consumers will use them by the year 2014. "Mobile Coupons & NFC Smart Posters:Strategies, Applications and Forecasts 2009-2014" predicts that electronic coupons will be the most popular way for buyers to save money on purchases.

The increase in mobile coupon use is directly linked to the increasing consumer demand for smart phones. As more buyers have access to mobile technology, they will be taking advantage of various apps available, including ones that provide opportunities to save on purchases.

I was especially interested to learn that mobile coupons are redeemed at a much higher rate than the traditional paper version. Approximately five to seven percent of electronic offers are presented to a retailer, as opposed to two percent of paper coupons.

These electronic coupons can help to encourage consumer visits to a brick and mortar location, giving retailers the opportunity to show the customer what the location has to offer. Once the buyer is in the store, it will not only boost sales for the item being promoted, but will also increase sales for other products on offer.

This sounds like a win-win situation for retailers. Since mobile coupons are easy to produce and are the "green" way to save, it may even boost sales from environmentally conscious buyers. It is no wonder that they are poised for such tremendous growth.