It’s an appropriate question. Because if your store doesn’t have a couponing strategy, you’re leaving money on the table. Just take a moment to consider how many different items you have in your store. According to a study from the Food Marketing Institute, the average supermarket carries more than 35,000 unique items. What strategy do you have in place to move all your items, regardless of the product category? We would advise you to consider initiating a coupon program for your customers.
Couponing Matters to Your Customers
Your shoppers know how important coupons are. They get that coupons save them money and they would love to use coupons in your store. One study demonstrated that couponing can save the average household over $1,000 per year. That’s no small amount of money. So not only does offering coupons provide you with a new touchpoint, it’s financially beneficial for your customers.
There is a perception problem, however. Many people associate coupons with the past. They wonder if people even get newspapers and other print periodicals where the coupons have historically been. They may not, but that doesn’t mean coupons are a bad idea. In fact, technology and growth in digital media have created entirely new methodologies and techniques for winning and retaining customers. With the growth of mobile apps, online shopping, and the cloud, print coupons have seemingly lost ground to digital promotions. But don’t be fooled. Print is not dead. When strategically deployed along with digital coupons, retailers can increase shopping trips, engage customers, and ultimately sell a lot more products with printed offers.
Couponing Goes Digital
Whether they are carrying them in their hand or on their smartphone, customers all over the United States are still bringing coupons into stores. Or they may load digital coupons onto their store loyalty cards and use them to help plan shopping trips. This way they can maximize their savings and optimize their shopping trips. Customers will choose stores that provide them with options like these. Will your store be prepared?
Remember that in some cases, consumers need to be enticed to take a chance on a new product, especially price-sensitive, coupon-using shoppers. And yet getting your customer to try that new product is exactly what you need them to do. One possible strategy is to use coupons. While you could advertise your new product by offering free samples, coupons cost less and require less implementation and rollout time. A tempting, high-value coupon might actually make a sale.
At UNFI Professional Services, we specialize in helping stores like yours develop a logical and effective coupon strategy. Read more about our couponing services and then contact us today!
