Published Thursday, Sep 28, 2017
Consumers Want Deals Across In-store and Online Retail Channels
LIVONIA, Mich., Sept. 28, 2017: Valassis, a leader in intelligent media delivery, today shares key insights for retailers from its 2017 RedPlum® Purse String Survey. Results show a common theme we see in the marketplace – the definition of a store to a consumer has no boundaries – they are shopping physical and online retail channels and they want relevant, accessible deals wherever they shop. Sixty-four percent want brands to provide coupons, coupon codes and deals on cosmetics/beauty products with over half (57 percent) sharing this sentiment for clothing.
Findings from the online survey of over 8,500 value-seeking consumers indicate that despite concerns around the future of brick-and-mortar, 94 percent of respondents still shop at physical stores, and of these, 16 percent are planning to do so more often within the next year. Additionally, even with Amazon’s high visibility and growth online and in-store, 83 percent of consumers shop at online retailers other than Amazon and 21 percent of those respondents plan to increase this behavior in 2018. Amazon’s impact does not go unnoticed, however, as 26 percent of respondents currently shopping on Amazon plan to shop this online store more frequently, maintaining the prominence of the retail giant.
Although subscription box website visits have grown 3,000 percent from 2014–2016, consumers have a mixed outlook around their use of these to shop. According to Purse String findings, 24 percent of survey respondents use clothing subscription services – among them, 20 percent plan to do so less frequently in the next year.
“Consumers are dramatically transforming their shopping habits,” said Curtis Tingle, Chief Marketing Officer, Valassis. “For marketers, this shift is accentuated by disruptive acquisitions in the retail space as well as expanding e-commerce models and innovative service offerings. However, based on our recent research, consumer passion and utilization of coupons, deals and discounts are consistently generating a high level of consumer traffic both in-store and online for large and small retailers alike.”
To remain competitive in this rapidly-evolving landscape, retailers are adapting their marketing strategies. In addition to leveraging coupons and discounts to generate shopper interest, they are often making larger investments in mobile advertising. According to new research from RetailMeNot, 92 percent of retailers are planning to do just that. Additionally, 80 percent of companies that used partner platforms to issue mobile promotions said they received above-average ROI – up from 66 percent of retailers in 2016.