According to Industry Chamber Association of India, the number of online shoppers has nearly doubled in the year 2016. This year again it is expected that the number will increase by 70%-80%. And with the increase in the number of shoppers, we can also see an increasing trend of shoppers who use coupon codes.
When offered a coupon, customers spend much more and purchase products which they wouldn’t necessarily buy, and they also embrace new technologies. And so, as the e-commerce battle becomes increasingly vital in India, coupons are emerging as a top priority. The results are staggering as well. According to the statistics collected by 7coupons.in, 65% of customers redeemed an offer after seeing it within 5 minutes. And around half of these shoppers were planning to buy a different product from the same website. On a side note, this also emphasises the need for delivering an offer to the customer in the correct spot and at the proper time in the purchase cycle.
Credit: Progressive Grocer
So let us take a look at some of the most regularly used categories of coupons.
Baby Care Products
Diapers and Baby Products are by far the most popular categories where coupons are applied. The expenses on diapers and baby-care products can easily get out of control for many new parents. And they immediately start looking out for these products at discounted rates. With the cut-throat competition in the E-Commerce industry, it is not surprising that the best price can only be found online.
FirstCry stands out as one the most widely used online store for baby needs. Though they have retail outlets in many cities across India, the discounts are huge if you apply FirstCry coupons online.
Another category is Mobile recharges. These are not high-value transactions, but definitely one of the most frequently made payments. Especially college students and young couples are known to recharge their mobiles once in every 5 to 10 days. And in that age group, people are really conservative with regards to their expenses. This is where recharge coupons come to the rescue. There are plenty of websites like PayTM, Freecharge, Mobikwik, etc that allow Pre-paid recharges as well as Postpaid bill payments. Using coupon codes on these sites can easily save you anywhere from 10% to 40% per month.
Bill Payments is another pain point for many people. For an average Indian middle-class family, almost 40% of the expenses go into the payment of bills like Electricity, Gas, Water Supply, DTH, Internet Broadband, Landline Phone, etc. No wonder coupon codes are being highly used for payments related to these services. There are also discounts on services like Delhi and Mumbai Metro Trains, BEST Buses, etc.
Electronics items like Mobile phones and laptops are also widely purchased using coupons. Websites like Flipkart and Amazon list these devices at their best prices. However, many other merchants like Infibeam go with the strategy of promoting coupon-based offers, and it has worked well for them so far. In this way, they are able to give a sense of discounted price to their loyal customers. If you see the product reviews on Infibeam, you will notice that some of their buyers actually waited for 2 to 3 weeks only so that they can have a coupon code to apply before purchasing their laptops.
So that was a little sneak-peak into the world of E-commerce and Coupons. I am sure all of you would be using some or the other method to save money on your purchases. Write your comments and let me know your ideas on saving money.