Digital Coupons Market Size, Share, Growth, and Industry Analysis By Type (E-Coupons, Online Coupon Codes, Printable Coupons and Others), By Application (Food & Beverages, Consumer Goods, Medical, Electronics & Semiconductor and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

digital coupons market REPORT OVERVIEW

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The global digital coupons market size was USD 5412.0 million in 2021 and market is projected to touch USD 34460.19 million by 2032 at CAGR 18.33% during the forecast period.

The increasing use of smartphones, rising internet penetration, and shifting customer behaviour have all contributed to the market's notable rise in digital coupons in recent years. Digital coupons are electronic copies of conventional paper coupons that may be used on mobile devices or the internet for access, sharing, and redemption. Manufacturers and retailers provide them as a part of their marketing and promotional campaigns.

COVID-19 Impact: COVID-19 Rising Cases Created a Boon in the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

In many businesses, the digital transformation has accelerated due of the COVID-19 pandemic. Companies started using digital coupons more frequently to boost online sales by providing discounts on necessities and services, which further fueled the expansion of the sector. The COVID-19 pandemic has altered consumer behaviour and the business strategy of companies operating in the digital discounts sector.

During the epidemic, consumables, vital commodities, and internet services were more important to consumers. With consumers actively looking for deals on grocery deliveries, meal kits, streaming services, and other online subscriptions, e-coupons became essential for these industries. Many merchants and eateries promoted the usage of mobile payment methods and e-coupons in an effort to reduce in-person interaction. The market for coupons was further propelled by the rising use of mobile wallets and coupon apps as a result. The demand for health and wellness items increased. This segment in the coupon industry grew as a result of businesses using e-coupons to draw clients who offered exercise gear, vitamins, and health-related services.

LATEST TRENDS

"Integration with the Mobile Wallets, Subscription and Collaboration to Boost the Market Share"

Integration with payment applications and mobile wallets makes it easy for customers to organise and manage their coupons. This trend improves customer experience and streamlines the redemption procedure. There is an increasing number of subscription services that provide members with special access to coupons, discounts, and offers. Customers can frequently access a well-chosen list of savings by paying a recurring subscription. Working together with bloggers and social media influencers is growing in popularity. Influencers encourage purchases by giving their followers exclusive promo codes, which give a sense of exclusivity.

digital coupons market SEGMENTATION

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• By Type

Based on type; the market is divided into e-coupons, online coupon codes, printable coupons  and others.

• By Application

Based on the application; the market is divided into food & beverages, consumer goods, medical, electronics & semiconductor and others.

DRIVING FACTORS

"Rising E-Commerce, Online Shopping with the Consumer Demand for Discounts to Uplift the Market Demand"

Digital coupons are made possible by the burgeoning e-commerce sector. Businesses utilise  e-coupons to draw customers, increase sales, and maintain customer loyalty as more people shop online. Online buying increased as lockdowns and social distancing techniques were implemented. There is a growing demand for the e-coupon platforms and apps as a result of consumers—both new and old—turning to coupons and discounts to save money on their online purchases. Customers are becoming more and more cost aware, looking for sales and discounts to save money. This need is met by e-coupons, which give customers a practical opportunity to save money on their purchases. Deals from nearby restaurants and retailers were promoted by numerous e-coupon platforms in an effort to assist local companies who were negatively impacted by lockdowns. With the help of the e-coupons, this change incentivized customers to shop locally.

"Convenience and Increased Penetration of Smartphones to Drive the Market Growth"

Digital coupons are practical for companies and customers alike. Customers can use their smartphones to manage, save, and redeem coupons. Compared to traditional paper coupons, the e-coupons are simpler for businesses to distribute, track, and analyse. With the increasing use of smartphones, users may access e-coupons from any location at any time. Customers can find and use coupons more easily thanks to mobile apps and notifications, which is fuelling market expansion. With a growing number of people having access to smartphones and the internet, there is a huge potential market for the coupons. Customers can conveniently save money by using mobile apps and websites to simply obtain and redeem digital coupons.

RESTRAINING FACTOR

"Security, Privacy Concerns and Dependency on Technology to Restrain the Market Growth"

Digital vouchers can be abused or fraudulently obtained. Businesses may lose money as a result of people sharing or using coupon codes repeatedly. To allay these worries, secure systems and authentication techniques are required. In order to provide customized coupons, companies gather and examine customer information. Privacy issues are brought up by this practice, particularly if users are unaware of how their data is being utilized. It can be difficult to strike a balance between privacy and personalization. In order to provide customized coupons, companies gather and examine customer information. Privacy issues are brought up by this practice, particularly if users are unaware of how their data is being utilized. It can be difficult to strike a balance between privacy and personalization. Therefore, the data privacy, security concerns and dependency on technology to hamper the digital coupons market growth.

digital coupons market REGIONAL INSIGHTS

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"North American Region to Lead owing to Growing E-Commerce Platforms "

The North American digital coupons market share accounts for a sizable portion of the global market. One of the leading coupons markets has been North America, especially the United States. The region's high internet penetration rate, widespread smartphone use, and strong e-commerce infrastructure all helped to fuel the growth of the coupons market. The market for coupons has also grown significantly in the area as a result of the growing number of internet users and the quick development of e-commerce platforms.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. Major players in the digital coupons market include technology companies providing coupon websites and apps, retailers, and consumer goods manufacturers.

List of Market Players Profiled

• Amazon (U.S.)
• Kroger (U.S.)
• VALASSIS (U.S.)
• Ulta Beauty (U.S.)
• RailEurope (France)
• Groupon (U.S.)
• Coca-Cola (U.S.)
• GAP (U.S.)
• PandG (U.S.)
• Frugaa (U.S.).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.