Retailers Are Offering More Coupons Than Ever This Season
As warmer weather has left Northeast retailers with excess inventory of winter coats, hats and gloves, offering discounts may be the only way to move such merchandise out the door. And to kick off the holiday shopping season, retailers offered more coupons than evera 15% rise over the amount last yearover the four-day Black Friday shopping weekend, according to RetailMeNot Inc., a digital marketplace for coupons.
“Searching for deals is a part of the American shopper’s DNA, and smart promotions from retailers have a better ROI than traditional forms of advertising,” explained Cotter Cunningham, CEO and founder of Austin-based RetailMeNot. “This type of advertising efficiently builds brand awareness; it drives traffic online and in-store, and it ultimately leads to increased sales.”
The company tracked overall coupon redemption over Black Friday weekend by analyzing the behavior of shoppers who visited the RetailMeNot website or used its mobile app to redeem offers in stores and online, according to a spokeswoman. It found that Amazon, Kohl’s and BestBuy had the highest redemption rates. Kohl’s, which offered 15% off and 20% off coupons this year, also had high redemption rates last year, the company said.
