Nov 10, 2014
AUSTIN, Texas, Nov. 10, 2014 /PRNewswire/ -- RetailMeNot, Inc. (NASDAQ: SALE), which operates the world's largest marketplace for digital offers, released today the findings of a November 2014 study it conducted using Google Consumer Surveys. The study, which also includes other third-party research, unveils the six stages of the consumer shopping journey and demonstrates how promotions have a significant impact at each stage along the way. Promotions are shown to impact decisions including when and where to shop, how much to spend, what to buy and whether or not a shopping cart is abandoned. Additionally, the study reveals how retailers are able to drive results by leveraging promotions and distributing them via marketing channels like RetailMeNot.
Get the full study here: http://www.rmn.com/impact
"Research continues to reiterate the positive impact that promotions have on both consumers' decision-making process when considering a purchase and in helping retailers achieve their revenue goals," says Michael Jones, SVP of Retail and Brand Solutions at RetailMeNot, Inc. "By leveraging RetailMeNot's marketplace platform, retailers win by increasing customer loyalty, building brand affinity and driving incremental sales both online and in-store."
Promotions trigger both in-store and online purchases
Of those who are deal seekers, promotions triggered in-store purchases for 91% of shoppers. Similarly, 89% of deal seekers said a promotion triggered an online purchase.
Promotions have an impact on consumers' decisions on where to shop and what to buy
Of online shoppers who use promotions, 82% sometimes, frequently or always consider promotions when planning what items to buy, and 81% sometimes, frequently or always consider promotions when planning where to shop.
Additionally, consumers reported using promotions to plan purchases in advance. Nearly three-fourths (74%) of in-store shoppers and 66% of online shoppers said promotions were used to help plan a trip to the store several hours, days, weeks or more prior to making a purchase.
Promotions help reduce shopping cart abandonment
Consumers most often abandon shopping carts due to cost-related reasons. Survey data shows that 78% of cart abandoners have sometimes, frequently or always looked for a promotion before abandoning their cart over the past year, and 68% have sometimes, frequently or always used promotions to return to their abandoned cart and complete their purchase.
Post-purchase, promotions positively affect loyalty, brand advocacy and the likelihood of future purchases
68% of consumers are more likely to be loyal to a brand that offers online coupons or promotion codes; 68% are likely to tell a friend about a company that uses online coupons or promotion codes; and 50% are more likely to buy a product or service at full price later from a company that offers online coupons or promotion codes.
Promotions drive incremental revenue for retailers
Retailers have much to gain from the steady demand for promotions by consumers. Based on the analysis of a third-party, one department store retailer with thousands of locations across the United States found that on transactions involving a RetailMeNot coupon, 18% of total coupon sales were incremental. Additionally, RetailMeNot customers spent and visited the retailer, on average, 30% more than non-RetailMeNot customers. The same retailer also found that customers who go in store for the first time with a RetailMeNot coupon increase their spend over the subsequent six months by 52%.
Access the full study: http://www.rmn.com/impact
For more information on the study and other available research and case studies from RetailMeNot, Inc., please visit: http://www.retailmenot.com/corp/resources.
The findings of the study are based on four surveys conducted using Google Consumer Surveys between August 22, 2014, and August 29, 2014, among a sample of the U.S. adult Internet population. The survey about the online shopping journey reached 1,107 online shoppers among 3,506 initial respondents. The survey about the in-store shopping journey reached 1,110 in-store shoppers among 2,686 initial respondents. The survey about online cart abandonment reached 1,064 online cart abandoners among 3,297 initial respondents. The survey about in-store cart abandonment reached 1,149 in-store cart abandoners among 1,641 initial respondents (Percentages may not total 100 due to rounding).
About RetailMeNot, Inc.
RetailMeNot, Inc. (www.retailmenot.com/corp/) operates the world's largest marketplace for digital offers. The company enables consumers across the globe to find hundreds of thousands of digital offers from their favorite retailers and brands. During the 12 months ended September 30, 2014, RetailMeNot, Inc. experienced more than 655 million visits to its websites. In 2013, RetailMeNot estimates $3.5 billion in its paid retailer sales were attributable to consumer traffic from digital offers in its marketplace. The RetailMeNot, Inc. portfolio includes www.RetailMeNot.com, the largest digital offer marketplace in the United States; www.RetailMeNot.ca in Canada; www.VoucherCodes.co.uk, the largest digital offer marketplace in the United Kingdom; www.Deals.com in Germany; www.Actiepagina.nl, a leading digital offer site in the Netherlands; Bons-de-Reduction.com and www.Ma-Reduc.com, leading digital offer sites in France; www.Poulpeo.com, a leading digital offer site with cash back in France; and www.Deals2Buy.com, a leading digital offer site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit: http://investor.retailmenot.com/.
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SOURCE RetailMeNot, Inc.