A few days ago, having registered that in April 2010 “35 million consumers visited coupon sites” (a number that was up 5% from the year before), Compete reminded us of the findings of their “Online Shopper Intelligence” study originally released in February 2010.
In the ranking of sources / tools on which consumers depend while shopping online Coupon Sites (used by 35% of online consumers) are second only to Search Engines (used by 61%):
The numbers of Coupon Sites’ users are growing as it was expected [see my Bright Future for Coupon Affiliates December 2009 post], and it was interesting to review Compete‘s findings regarding online coupons and coupon shoppers:
- Coupon codes can make or a break a sale — 57% of consumers who used a coupon code during their last online purchase said that if they had not received the discount, they would not have bought the item(s)
- Consumers who use a coupon spend almost twice as much — The small discounts consumers receive encourage them to spend more money ($216 AOV with coupon versus $122 without coupon)
- Coupons can increase customer satisfaction — They are an effective way for retailers to build good will with their consumers. Of those that did use the coupon, 92% were satisfied with their shopping experience (as opposed to 88% who didn’t have a coupon to use). The difference of only 4% may, however, be deemed a pretty insignificant one to make a conclusion. Hence, Compete’s usage of the word “can” there.
- Coupons can increase customer loyalty — Those who used a coupon said they are more likely (91%) to buy from the retailer again when compared to those who did not use a coupon (86%).
More (with charts too) in the Coupons Are Good For the Bottom Line post on Compete’s blog.
If you’re an affiliate, and aren’t using merchant coupons in your marketing mix, I hope the above convinces you otherwise, and another big reason for that is that coupons help increase affiliate conversion (substantially, I must add). The above study didn’t look at things from the affiliate marketing angle, but comparing conversion rates of coupon versus non-coupon affiliates, I see a significant difference in conversion. It doesn’t mean that all affiliates should turn into “couponers”, but adding coupons into the mix will benefit any type of affiliate.