News that consumers are increasingly turning to promotions to help decide their weekly shop points to a change in shopper behaviour that has changed dramatically over the last few years, writes Oliver Felstead, Managing Director of Coupons.com UK & Europe.
Driven by a combination of economic pressure and more relevant retailer/brand marketing, when it comes to the weekly shop consumers are increasingly planning ahead. An estimated 90% of consumers now make a list before embarking on the weekly shop and growing numbers are using smart phones as part of the pre-shop activity to track down relevant offers.
However, significantly, the emphasis is no longer exclusively on price. According to figures from Shoppercentric, whilst 25% of consumers look for the lowest absolute price, almost half (49%) are looking to attain the largest quantity or best quality within their budget.
The implications of this ‘coupon recession’ for brands and retailers are significant. Rather than rely on the in store offer or the till based/loyalty card coupon designed to promote brand switching, there is a significant opportunity for brands to get greater value from the data they possess in their loyalty card programmes, online registration and social networking to improve customer profiling and offer relevant, timely promotions that add incremental value.
As the stigma associated with the redemption of coupons in the weekly shop dwindles, success will come to the brand or retailer who can reach the consumer with a promotions based value proposition in the planning phase of their weekly shop.
By Oliver Felstead,
Managing Director
Coupons.com UK & Europe
