Last month I put together a series on coupon use and consumer behavior. You can catch the three part series here #1 Coupon Sites More Important as Economy Swings Down, #2 Online Traffic to Coupon Sites increases, #3 Coupon Sites becoming increasingly important.
Internet Retailer released post Q4 information that I think adds even more food for thought for companies thinking of working with coupon sites and coupons in general. From their article: “21% of Top 500 e-retailers added coupons and rebates in 2008, according to data published in Internet Retailer’s 2009 Guide to Retail Web Site Design & Usability. Of the Top 500 retailers, 335 said they deployed coupons and rebates in 2008, up from 278 in 2007.” More retailers are using coupons and discounts, not only out of necessity but out of the need to stand out.
“The addition of coupons and rebates reflects a growing trend among web retailers focusing on ways to stand out among competitors in a tight economic period, says Betsy Emery, CEO at Tellus, a Cincinnati-based retail web site design and planning company. “Coupons and rebates are good examples of the trend toward giving consumers a very concrete feeling of measurable value in offers being made,” Emery tells Internet Retailer. “Retailers are testing physical and virtual coupons. It’s almost like a multivariate testing approach to see which form works best.””
Beyond coupons, over 24% of retailers saw in increase in user generate content such as customer reviews. Email a friend and social networking saw large increases as well. Interestingly enough a wish list feature on retailers’ sites saw a decline. Some things work some don’t.
I hope to see you at the summit next week!