Coupon fraud continues to rise around the globe, and the prevalence of digital coupon codes and printable coupons will likely only make the problem more severe. According to Inmar Intelligence data coupon fraud is costing retailers and brands more than $100 million per year. Researchers found that 63% of shoppers say they try to apply multiple coupons at checkout and that 52% have tried using expired coupons. They further found that of those trying to use expired coupons, 56% were successful in their efforts.
"Coupon fraud and counterfeiting are issues within retail. We have worked for decades to mitigate this risk for all parties involved," said John Helmle, EVP & President, FinTech at Inmar Intelligence. "Through insights from our two surveys, the retail industry can better calculate the true cost of coupon counterfeiting and determine ways to eradicate it completely. We are committed to our pledge to end counterfeiting of coupons and have developed the tools to do so within three years. We look forward to the day when the retail industry is not losing millions of dollars to counterfeit activity and can continue to realize the awesome promotional marketing benefits of coupon price promotion."
More data from the report can be accessed here.
Coupon fraud isn't the only thing hampering merchants and brands in the wake of the COVID-19 pandemic. Many are still struggling to come to terms with reduced shopping hours, reduced numbers of shoppers in stores, and just how to engage shoppers who have switched all their buying to digital outlets.
A new AdColony report underlines changes to consumers' overall habits linked to the pandemic. Among the more interesting findings: 76% of US consumers are spending more time than ever on smart devices, and many of them are going gaming. Researchers found that consumers are spending about 8% more time on mobile devices now that before the pandemic and that time spent gaming is up by at least 15% across demographics.
According to the report Gen Z has increased their gaming time by 16% over pre-pandemic levels, Millennials have increased gaming time by 18%, and Gen X and Boomers are up 30%.
More AdColony data can be found here.
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