It should come as no surprise that mobile can be the key to engaging customers and driving consumer behavior, and a new report out of Technavio confirms this notion, especially in regards to mobile coupon offerings. According to the data in the company’s latest report, the global mobile coupons market is set to grow at a staggering rate of more than 73 percent CAGR over the next four years.
 
With more transactions moving to the mobile space every year, a truly seamless customer experience has come to be ones in which the shopper isn’t required to leave the channel to apply discounts from loyalty rewards or coupons. This presents an opportunity for retailers to offer digitally enabled coupons for increased engagement and, consequently, a greater potential for customer loyalty.
 
“The always-connected mobile customers are rapidly changing the face of Internet commerce across all primary sectors,” says Amit Sharma, a lead analyst at Technavio. “The top vendors help clients to maximize opportunities by supporting different smartphone brands to deliver mobile engagement strategies. This will lead to an increase in the number of cell phone Internet users across the globe.”
 
The proof is in the numbers when it comes to this spike in engagement due to mobile wallet-enabled coupons: mobile coupons are redeemed 10 times more than print coupons in today’s climate of digital retail. These coupons aren’t limited to online transactions, as the rise in prevalence of NFC technology allows for these coupons to be used during in-store purchases as well, giving them an added layer of potential value.
 
As the mobile wallet market continues to grow, mobile-enabled coupons will alongside it. Brands that take advantage of the technology will find themselves able to build loyalty thanks to the engagement and added value offered by mobile coupons.

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