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How Vouchers Influence Consumers Shopping Habits

Consumers have been known to make shopping lists based on certain brands, but then go on to pick products from completely different brands when they finally get to the store. Valassis, an intelligent media company, says the changes are usually the result of in-store deals and paper coupons.

 
And they are not alone in this – other researchers have discovered that consumers will change their purchase decisions depending on the available deals and coupons. So, what's on the shopping list is not usually the priority. In fact, in the UK, eight in ten consumers do not give the shopping lists much importance, but rather pay attention to the discount offers provided in the super markets.
 
 

Let’s see how deals and vouchers influence consumer’s buying decisions.

How in-store coupons affect buyers’ decisions

An in-store coupon is a deal that is shown on the shelves, such as a 2-in-1 deal. “Buyers are quite responsive to these offers and are willing to forget their initial purchase plans.” Says Alex Papaconstantinou, CEO of coupon site Wikigains. “More than half of all adults welcome the opportunity to put different things in their shopping carts when they see a good deal in the super market”.
 
For example, a person who walks into Tesco for a bottle of Tropicana but walks out with two bottles of Del Monte is because the later offered a better deal in orange juice. Essentially, deals with better value for money win over choice brands most of the time.
 
How coupons influence consumers after purchase
 
In the same study by Valassis, the impact of coupons and other discounts outlasts the purchase. Today, more than half (53%) of buyers scan their receipts using their smartphones to get points and cash back offers. Smart marketers use these tactics to establish long term relationships with the consumers.
 
Satisfied customers end up influencing family and friends with reviews or posts on social media even weeks after a purchase is made. A majority (60%) of shoppers share their reviews about a brand or a discount with family and friends. The number is even greater among mobile coupon users, where 79% share information about brands and the savings they made when making their purchases.
 
When buyers use social media in this manner, they turn into influencers who can sway the purchase decisions of other shoppers.
 
Why understanding coupon psychology is so important for retailers?
 
1. Coupons affect sales and purchasing decisions. It is important that marketers have an understanding of the entire purchase process from the creation of wish-lists to post-purchase phase. Also, buyers don’t always buy brands they like. Marketers need to realise how buyers get influenced by discount coupons offline and online and how vouchers have such a powerful impact on what goes in peoples’ shopping carts.
 
2. Coupons give marketers the opportunity to create repeat business. With the help of social media channels, retail outlets can influence customer purchase decisions with sharable coupons and discount codes. The brilliance of coupon marketing is that happy shoppers will tell their followers or friends how satisfied they are with their purchases.
 
3. Coupons contribute to establishing brand image. Other benefits of coupon marketing include the creation of a stronger brand image. The need to turn consumers into influencers in their circle of influence means that coupons have a very important role.
 
 
 

 

 
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