Coupons and Consumer Behavior — Why Shoppers Act the Way They Do?
Who doesn’t love discounts and cash vouchers in this age of consumer branding and premium prices? The question should not revolve around people loving discounts or not, but rather why are they ready to go the extra mile for acquiring them.
Price perception is an important deal for consumers, if they have the slightest of an idea that the product is overpriced, they might delay their purchase and consumption. This has emerged as a massive challenge for marketers who must deal with two major issues, reducing attention span of consumers and fickle consumer loyalties.
• Sense of Urgency
Consumers often feel a sense of urgency when they see either taglines like ‘limited stock available’ or ‘clearance sales’. The potential consumer already starts thinking that failure to take immediate action might result in losing a valuable deal, which might even inculcate commodities and brands that are alien to the user’s needs.
- Real Lucrative Deals
It is true that sales seasons at the end of the year are lucrative for consumers as they can purchase branded products at reasonable prices. There are several credible companies like Beautiful Halo Coupons that provide immense discounts, making a wide variety of products affordable for consumers. Consumers save a lot of money when they buy goods through coupons and vouchers, which is the reason why digital space is filled with such apps. Coupons empower the consumer to trial and test with brands that they would have never experimented with due to fears based on assumptions of poor quality or higher prices.
- Integrated Ecosystems
Around 35% of consumers have increased their internet usage with the sole intent of increasing the likelihood to obtain coupons online. The same research also elucidated the gravity of the situation by quoting that around 32% of consumers use their smartphones as prime devices to acquire vouchers.
Due to constant surfing over social networking sites and search engines, users are more likely to come across discount codes which compel them to make buying decisions, particularly on e-commerce sites. The ease of accessibility and connectivity is an important factor that attracts consumers to continuously look for coupons. The SOPO (Search Online Purchase Offline) phenomenon also supports the viability of online vouchers being used at physical stores.
- Effective Marketing
Companies often design coupon strategy in such a manner that they inculcate every member of the family into the purchase decision. The idea of bundle deals is an example of this proposition where coupons are provided on children’s clothes as well as adult’s accessories. The underlying objective is to pull the consumer to the physical realms of the store or on the e-commerce site and once the consumer has reached the domain, shoppers will be bombarded with attractive deals. The advertisers often promote discount codes on children toys and accessories, a market segment that compels the real decision makers (parents) to materialize the coupons and make the desired purchases. It is imperative to understand that brands use coupons as a means of attracting new consumers and using tools of remarketing to maintain the loyalties of the existing ones.
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