Mobile and tablet coupon redemption is set to hit ten billion in 2013, according to Juniper Research. The figure has risen by 50% compared to last year. The Mobile Coupons - The Smart Way to Shop report suggests mobile vouchers offer the high street a lifeline.
The findings reveal how mobile coupons have notched up a 10% redemption rate. However, Juniper feels that mobile still accounts for a comparatively low volume of coupons issued. Print media and PC voucher redemption is barely negligible at 1% or less.
Report author, Dr Windsor Holden, believes mobile vouchers can combine digital and physical assets for retailers. “While we’ve heard that online retail is killing the High Street, mobile offers a means of engaging with the consumer at every point in the retail life cycle, from product discovery to product purchase,” he said.
Juniper stresses in the report that mobile vouchers should have an expiry date. It notes how a number of offers have gone unintentionally viral, which has led to problems for the brands in servicing the demand for their products.
Mark Pearson, Chairman of MyVoucherCodes.co.uk, discussed Juniper’s findings with A4u. He feels mobile coupons can help level the playing field for brick and mortar retailers by making their prices more competitive for consumers.
“Mobile vouchers have been a godsend for retailers struggling to compete with online prices,” he said. “When prices are low in-store, but even lower online, mobile vouchers are a great way of giving customers that extra push to buy on the high street.”