Retailers Not Offering Vouchers Risk a Third of Potential Sales

Retailers that don’t employ an omni-channel approach to digital vouchers are risking a third of potential sales, according to a Forrester-commissioned study by coupon site RetailMeNot. 

The research found that incentives are playing a crucial role in consumer purchase decisions, with a third of Brits (34%) and over half of shoppers in France (53%) abandoning purchases if they can’t find a voucher.

And it’s not just online where they’re being used, with nearly a third of shoppers in France (28%) and the UK (29%) preferring to redeem mobile vouchers in-store.

Savvy shoppers

This news follows an article published by PerformanceIN on Tuesday which revealed that four in 10 UK consumers claimed to use voucher codes on purchases, strengthening the evidence that consumers aren’t dropping their usage of incentive publishers in search of a good deal.

Indeed, RetailMeNot finds that online channels now influence 40% of in-store sales, suggesting consumers are choosing to scout out the best deals, discount codes and product comparisons before making those high street purchases.

These figures are also expected to rise rapidly, according to RetailMeNot, who believes the use of incentive deals among retailers at the checkout will help pull indecisive customers over the line.

A consistent omni-channel experience is the “holy grail” for retailers, says senior vice president for international at RetailMeNot, Giulio Montemagno.

“Our research shows that online channels significantly influence in-store purchase. If done right, meaning sending the right message to the right person at the right time, digital vouchers can prompt positive sentiment from consumers, increase brand loyalty and drive conversion.”

Quality over quantity

Montemagno adds that retailers must respond to the study by building voucher strategies that improve the customer experience online and offline, while maintaining “consistent and personalised” experiences across all channels.

Retailers looking to up their voucher game should pay particular attention to that last part, with the research finding that 15% of both UK and French consumers have opted out of digital vouchers after receiving irrelevant, non-personalised deals. 

But it also comes down to volume, with a quarter of UK (25%) and a third of French (35%) consumers dropping out after being “bombarded” by offers.