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., nearly 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. According to a 2021 study, Facebook is the leading social media platform on which users discover coupons, with over 40 percent of surveyed consumers reporting using it when looking for digital deals.Alongside social media, many consumers look to websites and rebate-specific apps as their primary way to discover coupons. Another survey found that only about one in ten online shoppers never use coupon aggregator platforms while shopping online. However, regardless of the preferred source, approximately 37 percent of shoppers usually or always attempted to find coupons before buying products online in the same year.
Bargain business market leaders
As of 2022, the most visited coupon website in the United States was slickdeals.net, boasting nearly 20 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 popular option for rebates, both the Groupon website and app are beginning to lag. 2021 marked the fifth 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, the U.S. inflation rate peaked for the first time in more than 40 years, and gas prices were at an all-time high in 2022. Under these circumstances, it is no wonder U.S. consumers are focused on making the most of the newly popular Upside-Cash back on gas & food app to save money on gas and food.
