Study: Millennials seek automatic digital coupon redemption
Boston – Millennials as a generation are known for wanting instant gratification, and that desire extends to digital coupons. According to a new commissioned study conducted by Forrester Consulting on behalf of Linkable Networks, CPG retailers and brands must adopt digital coupon redemption experiences that are automatic to reach millennial shoppers.
This is especially for millennials with children, because they find most digital coupons to be harder to use than traditional paper coupons. The study, “Creating Loyalty With Millennials and Young Parents: How Automated Redemption And Card-Linked Offers Will Solve The Adoption Dilemma For Digital Coupons” which surveyed 516 U.S. shoppers, finds that retailers and brands who offer simplicity will find millennials more inclined to try new retailers or products, driving customer acquisition and use coupons, driving loyalty.
Seventy-nine percent of surveyed shoppers shared they would not buy an item if they forgot to bring a coupon in-store. For CPG marketers, this results in loss of sales and little opportunity to build loyalty. And 63% of millennials would experiment with a new brand if they received a card-link offer. Furthermore, 48% of millennials would spend their dollars at another retailer that accepts card-linked offers.
According to the survey, 78% of shoppers report using a debit or credit card to pay for every day staples including grocery items and half of shoppers are interested in using card-linked offers, illustrating the importance of leveraging seamless and automatic coupon redemption specific to CPG retailers and brands.
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