A November 2014 survey by RetailMeNot, Inc. in conjunction with Google Consumer Surveys shows how much promotions impact retail sales.
Promotions have been the reason why 91 per cent of shoppers surveyed made purchases in-store, while 89 per cent of consumers used online promotions to make their purchases on the web. Promotions have been shown to impact a consumer’s plan to make a purchase, with 82 per cent planning their purchasing around promotions, including when and where they shop.
Promotions are also shown to impact customer loyalty. 68 per cent of consumers are more loyal to companies that use online coupons or promotion codes to drive sales, and the same number pass that information along to friends. 50 per cent of those surveyed would even be willing to buy a product at full price from that same company at a later date.
“Research continues to reiterate the positive impact that promotions have on consumers’ decision-making process when considering a purchase and in helping retailers achieve their revenue goals,” Michael Jones, senior vice president of retail and brand solutions at RetailMeNot, said in a press release. “By leveraging RetailMeNot’s marketplace platform, retailers win by increasing customer loyalty, building brand affinity and driving incremental sales both online and in-store.”
