Mobile coupon redemption on the rise

As more consumers rely on smartphones and other mobile devices for shopping, an increasing number are opting for the electronic version of 'clip and save'.

More evidence that shopping ala mobile phones is starting to pick up more momentum in the United States: A new report from Juniper Research suggests that the redemption rate for coupons sent and redeemed ala a smart phone or other mobile device will reach 8 percent in North America and Western Europe by 2016.

The report, "Mobile Coupons Whitepaper," projects that the redemption values of those coupons will reach $43 billion by 2016.

These trends could help brick and mortar retailers recoup some of the sales that they might be losing to e-commerce retailers, the Juniper Research report suggests.

"For the next few years, users will be signing up to multiple coupon schemes and deciding on the ones they like best -- so now is a crucial time for mobile marketing agencies to get it right on behalf of their clients and establish a loyal customer base," wrote David Snow, the author of the report.

Another potential area of strategic difference would be the marriage of mobile payment methods and mobile coupon redemption, according to the report.

The research is another signal that the retail industry is poised for an extraordinary transformation in the way that consumers investigate and pay for goods and services. You know all those paper coupons that you receive at the point of sale in your local grocery store or pharmacy, which you cram into your wallet and forget to use? Would you be more likely to use them if they were sent to your smartphone instead? Personally, I would be more likely, since I turn on my mobile every morning and I don't always go through my wallet every day.

Mobile coupons will be a great way to play to customer loyalty, encouraging consumers to make your store their preferred stop as they are running errands. And unless you really are fond of clipping your local paper, they sure would be a whole lot more convenient (and eco-friendly) than the paper alternative.

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Image: Flickr/Cameron Russell

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