Before technology started advancing rapidly every day, we had paper coupons. When we had paper coupons, it was easy for people to reuse their coupons. This is called coupon fraud. Many people would take their coupon they used once and go back to another store and use it again. However, with the digital age we have now, they can’t do this anymore. This is because digital coupons are set for a certain product at a certain time and can’t be used again.
According to Biz Report, coupons, digital or paper, have been a strong thing for retailers and consumers alike. This is because coupons allow retailers to make more money by selling items cheaper, which in turn may make the consumer return to the store to buy something else. They are good for consumers because they save them money on the items they need. Coupons have been a strong thing for retailers and consumers and continue to do so, even with digital coupons. However, Biz Report says, now that we have digital coupons, they are fighting the coupon fraud that used to happen. Digital coupons keep people from trying to use coupons over again.
As Biz Report talks about, coupon fraud was an easy thing to do before digital coupons came out. This is because, although the coupon has to have a bar code on it to be used, people are able to create bar codes on fake coupons with just a computer and a scanner. With computers, high quality artwork and graphics can be made easily. Just by using a scanner and copier on an all-in-one printer, a person can easily create what they need on a fake coupon to be used at the store.
However, digital coupons are now a popular thing and because of them being created in the digital world, retailers don’t have to worry about coupon fraud anymore. Because, as mentioned above, they are set for the one product and for one time only. They are used online either with a computer or a mobile phone.
Digital coupons, and sometimes still paper coupons, are still so popular these days, that, according to an interesting infographic on Business 2 Community, the estimated number of digital coupons that were redeemed throughout the world in 2014 were 16 billion. However, the infographic on Business 2 Community also says that it is estimated that in 2019, 31 billion digital coupons will be used worldwide. Also, the estimated amount of mobile coupon users in 2014 were 560 million as compared to what is predicted in 2019 that there will be 1,5 billion people using their phones to redeem them. Coupons will never go away and thanks to the ever rapidly advancing technology, digital coupons are now here and here to stay.
What do consumers think of digital coupons these days? According to this interesting infographic on Business 2 Community, 68 percent of mobile coupon users think that digital coupons build brand awareness, another 68 percent of mobile users think that they build loyalty as well. Now, how much do people love these types of coupons? 60 percent of mobile users love to receive and redeem digital coupons while 50 percent of mobile users are more likely to shop there again if they receive a digital coupon. Now here is an interesting statistic, 77 percent of consumers spend at least between $10 and $50 more if they get to use a digital coupon first. This is compared to 17 percent who spend more than $50 as long as they get a one. Not only this but, 59 percent of consumers say they are swayed to spend more and shop at that store again because of them, compared to other promotions the retailers use to get customers.
[Photo by Coupons.com/AP images]