If you don’t have a promo code strategy, you aren’t playing the right game. 75% of consumers now expect promotional offerings. If you don’t engage directly, customers will look elsewhere — creating one more barrier between you and a sale.
Getting promo codes right, however, is more complicated than simply offering discounts. You need to go beyond ‘rinse and repeat’ strategies to connect with shoppers. What’s more, you need to avoid being taken to the cleaners and stop your vouchers from going viral, draining revenue without delivering the kind of results you need. Here, we take a look at the key statistics that highlight the opportunities and pitfalls of retail discounting offers businesses.