Mobile coupon redemption rates to hit 8 percent by 2016
Retail software and store operations are constantly adopting, implementing and accommodating new technologies. With the growth in mobile device use, retailers are finding mobile coupons to be a lucrative sales strategy.
According to a recent study from Juniper Research, redemption rates of global mobile coupons will average more than 8 percent by 2016. This growth is spurred by greater usage of mobile coupons in North America and Western Europe, which is expected to bring the global population of coupon users to 60 million.
However, the study found that growth is not assured. The technology is currently going through an experimentation phase, as companies determine how to connect with consumers.
"As with all new mass markets there is an initial 'shakeout' period," said David Snow, author of the report. "For the next few years users will be signing up to multiple coupon schemes and deciding on the ones they like best – so now is a crucial time for mobile marketing agencies to get it right on behalf of their clients and establish a loyal customer base."
Retailers are also partnering their mobile strategies with social media and other web-based platforms to connect with consumers no matter where they are.
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