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In the ongoing quest for personalization, with an emphasis on digital and mobile advertising, retailers and brands should not outpace the interests and shopping habits of their core customers, according to a new study from InStream.
Foremost among the study findings is that, overwhelmingly, value channel shoppers prefer receipt-based offers for savings while digital offers lag a distant second.
In fact, personalized, targeted coupons printed on receipts capture up to 82 percent unaided awareness, driving shopper loyalty, and increased sales.
“Value shoppers—one of the retail industry’s bright spots—have spoken and they continue to demonstrate a strong preference for receipt-based offers for savings on products they buy and to discover new products they have not yet tried,” said Michael Doherty, InStream’s Chief Operating Officer. “Up to 82 percent of value shoppers are aware of the coupons printed on their receipts, a 24 percent increase over last year, and more than half of them are returning to the store to redeem these offers.”
InStream completed its annual value channel shopper tracking study. The company interviewed shoppers nationwide at value channel retail locations as part of this study and found that value shoppers’ interest in receipt-based offers grew year-over-year, and outpaces awareness of and interest in other types of promotions, including digital offers.
According to the study, customer usage of targeted receipt coupons has increased since 2016, with 58 percent of shoppers indicating they are more likely to use a coupon found on their receipts, compared to only 16 percent who look for store coupons through digital channels.
“In a world of increasing emphasis on digital and mobile advertising, retailers and brands must be careful to not outpace the interests and shopping habits of their core customers,” Doherty said. “Printed receipt offers are an important element of an integrated marketing campaign and inStream has proven that it bolsters other promotions by providing shoppers a personalized experience at the register, in real-time.”
According to this year’s tracking study, shoppers are making 27 percent more trips to value retail stores, averaging 14 visits per month. What’s more, value channel customers use receipt coupons to try new products nearly 60 percent of the time, and 68 percent of shoppers refer to receipt offers to learn about new sales.
“Our value retail partners are enjoying more traffic in their stores each month, partly driven by increased shopper usage of the receipt-based coupons inStream enables,” said Doherty. “The ability to target offers at the point-of-sale gives our retailers the opportunity for meaningful engagement with their customers, while brands benefit from increased sales and awareness of their products. As we often tell our customers, paper receipts aren’t dead!”
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