Survey Finds Retailers Jeopardize More Than a Quarter of Online Business by Not Offering Coupons
Retailers Take Notice: A New RetailMeNot.com Survey Found that 27% of U.S. Online Adults will Either Wait to Make their Purchase or Will Go to Another Store That Offers Coupons if they Can't Find a Coupon for an Online Store
Melbourne, Australia -- October 6, 2008 -- The results of a newly released consumer survey conducted by Harris Interactive and commissioned by RetailMeNot.com, the web's leading consumer destination for online coupons, discounts and promotional codes for merchandise, travel and services, found that coupons are not only a major driver of customer loyalty and sales, but stores that don't offer online coupons risk losing about a quarter (27%) of their online business. The survey, which polled 2,022 online adults within the United States, serves as a call to action for retailers that have not yet incorporated coupons into their marketing strategy.
The survey found that half (51%) of U.S. online adults plan to change their spending habits given the current state of the economy and that of this group, nearly 9 out of 10 (89%) intend to spend less money on gifts this holiday season compared to last holiday season. The survey also looked at strategies that online adults will use to spend less--both on and offline--and found that a third of those who plan to spend less (35%) will be using coupons. In fact, 16% of online adults agree that, in general, they will not make a purchase unless they can find a coupon.
In order to attract and retain shoppers in this economy, retailers must offer coupons. Three out of four online adults say they are more likely to return to a store that offers coupons and 67% agree that coupons drive customer loyalty. For smaller merchants, coupons are a great way to level the playing field against more established retailers: the survey found that 72% of online adults are willing to try a new store if they can use a coupon. When online adults cannot find a coupon for an online store, 20% say they would make their purchase at different store that offers coupons and sells the same item and 8% will wait until a coupon is available to make the purchase.
"It's clear that we are seeing a resurgence of coupon use, largely due to the rocky economy," said Guy King, co-founder of RetailMeNot.com, an online coupon website that receives more than five million visitors per month. "Retailers large and small must adapt to consumer spending habits in order to attract new customers, drive customer loyalty and reduce customer deflection. There is a tremendous opportunity for retailers to capture a larger share of consumers' shrinking holiday budgets by offering incentives like online coupons."
For complete survey results and methodology, including weighting variables, please visit http://www.retailmenot.com/harrispoll/fall2008.
About the survey
This Online Shopping survey was conducted online within the United States by Harris Interactive on behalf of Retailmenot.com between September 10 and September 12, 2008 among 2,022 U.S. adults ages 18+, of whom 1,783 shop online. The data have been weighted to reflect the composition of the online U.S. adult population on the basis of Internet usage (hours per week) and connection type. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
About Harris Interactive
Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research that is powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit www.harrisinteractive.com.
About RetailMeNot.com
RetailMeNot.com is the web's leading consumer destination for online coupons, discounts and promotional codes for merchandise, travel and services. RetailMeNot.com is an online community that posts, uses, recommends and ranks over 100,000 online discounts and promotions at more than 20,000 retailers, including Amazon, GameStop, Banana Republic, Macy's, Best Buy, Home Depot and Victoria's Secret. RetailMeNot.com's mission is to help consumers save money and enjoy a hassle-free discount shopping experience online. RetailMeNot.com, a division of Stateless Systems, is located in Melbourne, Australia.
www.RetailMeNot.com is a registered domain of Stateless Systems. All other domains, names and trademarks mentioned herein are property of their respective owners.
Melbourne, Australia -- October 6, 2008 -- The results of a newly released consumer survey conducted by Harris Interactive and commissioned by RetailMeNot.com, the web's leading consumer destination for online coupons, discounts and promotional codes for merchandise, travel and services, found that coupons are not only a major driver of customer loyalty and sales, but stores that don't offer online coupons risk losing about a quarter (27%) of their online business. The survey, which polled 2,022 online adults within the United States, serves as a call to action for retailers that have not yet incorporated coupons into their marketing strategy.
The survey found that half (51%) of U.S. online adults plan to change their spending habits given the current state of the economy and that of this group, nearly 9 out of 10 (89%) intend to spend less money on gifts this holiday season compared to last holiday season. The survey also looked at strategies that online adults will use to spend less--both on and offline--and found that a third of those who plan to spend less (35%) will be using coupons. In fact, 16% of online adults agree that, in general, they will not make a purchase unless they can find a coupon.
In order to attract and retain shoppers in this economy, retailers must offer coupons. Three out of four online adults say they are more likely to return to a store that offers coupons and 67% agree that coupons drive customer loyalty. For smaller merchants, coupons are a great way to level the playing field against more established retailers: the survey found that 72% of online adults are willing to try a new store if they can use a coupon. When online adults cannot find a coupon for an online store, 20% say they would make their purchase at different store that offers coupons and sells the same item and 8% will wait until a coupon is available to make the purchase.
"It's clear that we are seeing a resurgence of coupon use, largely due to the rocky economy," said Guy King, co-founder of RetailMeNot.com, an online coupon website that receives more than five million visitors per month. "Retailers large and small must adapt to consumer spending habits in order to attract new customers, drive customer loyalty and reduce customer deflection. There is a tremendous opportunity for retailers to capture a larger share of consumers' shrinking holiday budgets by offering incentives like online coupons."
For complete survey results and methodology, including weighting variables, please visit http://www.retailmenot.com/harrispoll/fall2008.
About the survey
This Online Shopping survey was conducted online within the United States by Harris Interactive on behalf of Retailmenot.com between September 10 and September 12, 2008 among 2,022 U.S. adults ages 18+, of whom 1,783 shop online. The data have been weighted to reflect the composition of the online U.S. adult population on the basis of Internet usage (hours per week) and connection type. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
About Harris Interactive
Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research that is powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American, European and Asian offices and a network of independent market research firms. For more information, please visit www.harrisinteractive.com.
About RetailMeNot.com
RetailMeNot.com is the web's leading consumer destination for online coupons, discounts and promotional codes for merchandise, travel and services. RetailMeNot.com is an online community that posts, uses, recommends and ranks over 100,000 online discounts and promotions at more than 20,000 retailers, including Amazon, GameStop, Banana Republic, Macy's, Best Buy, Home Depot and Victoria's Secret. RetailMeNot.com's mission is to help consumers save money and enjoy a hassle-free discount shopping experience online. RetailMeNot.com, a division of Stateless Systems, is located in Melbourne, Australia.
www.RetailMeNot.com is a registered domain of Stateless Systems. All other domains, names and trademarks mentioned herein are property of their respective owners.