Over half of consumers (56%) would buy from an unfamiliar brand if offered the right deal at the right time, while 41% have bought purchased something online they would never previously thought of buying, because of a voucher or offer, according to new research.
The study, from affiliate marketing network, LinkShare, looked at the increasing popularity of voucher and discount sites in the run up to the festive season.
This impulsive buying behaviour has been exploited successfully by sites like Groupon and Quidco, with daily emails promoting brands looking to expand their sales, as well as their customer and marketing base. From its creation in 2005, Quidco now works with 2,800 brands – showing the value brands are gaining from this.
The total value of vouchers and offers distributed to customers each year is estimated at more than £500million, and City experts believe as many as 200 voucher websites operate in the UK.
Of those surveyed by LinkShare, 41 per cent said they have purchased something online they would never previously thought of buying, because of a voucher or offer.
This reveals that a well-timed and well-placed voucher or coupon can sway buying behaviour significantly. Brands must therefore ensure they have a presence across all channels and a variety of sites to ensure customers’ loyalty, as there are so many opportunities to lose valuable customers.
The findings also reveal that women are more savvy than men when shopping online, with 58 per cent of women surveyed saying they looked for vouchers and coupons, versus 53 per cent of men who do this.
Claudia Slutzkin, the online marketing manager at fashion brand Lipsy, commented: “We have found that the way consumers engage, and therefore the way we communicate with consumers, has changed a lot over the last few years. Now that our customers are browsing and shopping from their smartphones and tablets as well as their PCs we need to ensure we are represented across each channel to ensure we stay front-of-mind. On top of this, consumers want value for money in these difficult economic times, which is why the affiliate programme we run with LinkShare has been so effective. Consumers get value for money, and we are able to ensure our brand appears in all the channels our customers shop from.”
This suggests that despite the savings vouchers provide to consumers, brands also benefit from using coupons and offers. The data that online vouchers provide to brands and marketers is invaluable in understanding the behaviour of consumers and allows brands to place relevant and valuable content in the right places at the right time.
Anthony Quinn, Director of Advertiser Services at LinkShare, commented: “Soaring access to web-enabled devices, combined with the proliferation of online vouchers and coupons have revolutionised the way consumers shop online. As our research shows, it has opened up the market for challenger brands. In turn, now even big brands cannot rest on their laurels, as consumers get more savvy they will be increasingly swayed by value.”
Methodology
The research, commissioned by LinkShare, was carried out by independent survey provider Toluna on 29th July 2011. 1,000 consumers were surveyed on the topic of eCommerce.
