Grocers Woo the 42% of US Shoppers Who Prioritize Coupons
PYMNTS research finds coupons are highly important to many shoppers, and grocers are taking note.
The Context
Certainly, grocers that are able to meet this demand for coupons see the benefits. For instance, grocery giant Kroger shared on an earnings call earlier this month that the company saw record-breaking digital coupon use over the course of last year and, across digital and physical coupons, consumers redeemed more than £1.4 billion of value.
“Our data science teams are using predictive science to serve customers the right products at the right time and at the best value, because we know our customers so well,” Kroger CEO Rodney McMullen said. “We were able to provide recommendations to start their baskets and deliver personalized offers on the products most important to them, saving them time and money and making their lives easier. In return our customers reward us with their trust and loyalty.” Similarly, membership-only warehouse chain BJ’s Wholesale Club has seen its digital couponing efforts drive sales.
“Those who engage with promotions spend the most. One way to look at this is percent of members who engage with a digital coupon,” CEO Bob Eddy told analysts on a call earlier this month. “Seventy percent of our coupons are now clipped digitally. This is up from 20% in 2019.
Now, this drives loyalty because it is a much smoother way for us to deliver value to our members.”
By the Numbers
Research from PYMNTS’ study The 2023 Global Digital Shopping Index: U.S.
Edition, which draws from a survey of more than 2,800 U.S. consumers, reveals that the ability to use coupons is a high priority for many shoppers.
The report revealed that 39% of consumers considered coupon usage to be very or extremely important when choosing merchants, and an additional three percent cited this as the single most important concern when deciding where to make purchases.