RetailMeNot is the world's largest digital coupon marketplace. Over the period of Thanksgiving to Cyber Monday RetailMeNot helped to process 2.6% of all e-commerce sales in the US. Thankfully for all the Coupon Kings and Queens among us coupons no longer need to be cut out and carried with you. As a result redemption rates for digital coupons are much higher between 5% and 20% compared to paper coupons around 1%. Even a small increase in conversion is extremely valuable for retailers as industry data note that up to 65% of shopping carts online are abandoned. Find out more at (VIEW LINK)
The fact that the phone becomes the coupon is a great innovation. Very interesting stat from your article, we check our phones 150 times a day or about once every 6.5 minutes, it is with us all the time and helps us to discover new deals. With digital coupons you no longer need to carry around paper coupon cut outs for your purchases.