Study Shows Promotions Can Significantly Influence Purchases
A recent study made available by RetailMeNot.com explains the significant influence of promotions on purchasing decisions, sales, and loyalty. The study revealed that coupons, promotion codes, sales, and special offers were used by 49% of online purchases and 56% of in-store purchases.
Promotions have a big enough influence that consumers will use them to plan what they buy, where they will buy it, and when. They will personally seek out promotions from websites, mobile apps, printed coupons, emails you send them, and they will follow you on social media to get them. According to the study, 60% of one group of consumers surveyed said promotional offers were the reason they “like” retailers on Facebook.
The majority of consumers (91% of shoppers who used in-store promotions and 89% of shoppers who used online promotions) said that promotions were the reason they made their purchases. As shown by the study, promotions can increase the number of new customers and significantly increase the average order amount.
Interestingly, the study also reports that 39% of consumers abandon online shopping carts, 78% of them look for a promotion first, 68% of them used a promotion to return to the cart, and 24% have completed their purchases with a promotion. This presents yet another opportunity to encourage customers to complete their orders or add items to their carts.
68% of one group of consumers expressed loyalty to a brand offering online coupons or promotion codes and a willingness to tell a friend about them, and 50% even said they would be likely to buy at full price later.
This all ties in with what we previously said about promotions and how you can use them to generate income with your ERP system. And InOrder supports them all – Promotions, Email Marketing with Abandoned Cart Notifications, and even Loyalty Programs to say thank you.