The digital coupon shopping cycle
In recent years, shopping behavior has visibly changed worldwide due to the continuous and rapid increase in internet usage. While many shoppers still prefer to receive their coupons in print and by mail, consumers' desire for good deals and bargains has predominantly moved online. In the U.S., about two in ten consumers find coupon and deal platforms as a source of inspiration for new product purchases, and social media accounts for an even larger share of exposure. As of December 2022, there were over 19 million U.S. social media users following the accounts of coupon and rebate sites across Facebook, Instagram, X (Twitter), and TikTok.Alongside social media, many consumers look to websites and rebate-specific apps as a means to discover coupons. Another survey found that many consumers are willing to take specific actions in order to receive coupons while shopping online: seven in ten consumers were willing to subscribe to brand emails in order to receive a 20% off coupon, and six in ten were willing to take a short survey. Regardless of how exactly consumers get their hands on digital deals, there is a preference to seek them out before any shopping takes place.
Bargain business market leaders
In 2023, the most visited coupon website in the United States was slickdeals.net, boasting nearly 19 percent of site visits among its competition. By name, one notable competitor is Groupon. While Groupon has been a well-known market leader in the country’s bargain business for almost a decade and remains a relatively popular option for rebates, both the Groupon website and app are beginning to lag severely. 2022 marked the sixth year of Groupon’s revenue decline, and the number of Groupon’s active customers is also decreasing annually as many online retailers now provide personalized discount offers.In addition, in 2022 the U.S. inflation rate peaked for the first time in more than 40 years, and is expected to remain above average throughout 2023. Under these circumstances, it is no wonder U.S. consumers have made changes in how they shop online due to inflation. Along with other popular rebate platforms, discount and offer apps were also a prevalent option for shoppers. The Fetch: Have Fun, Save Money and the Upside-Cash back on gas & food apps were both downloaded well over 10 million times by U.S. Americans in 2022.
