Can We Finally Say Goodbye to Paper Coupons?
I have had my share of issues with redeeming manufacturer coupons in the past and simply find the traditional system of clipping coupons both time consuming and frustrating. And, like many baby boomers, I never have adjusted to alternative options to collect deals and promotions including using my smartphone.
A group called VisibleBrands in Kirkland, Wash., has found a way to circumvent the issues so many others and I are experiencing related to conventional coupon redemption by offering consumers deals at the shelf. I was intrigued when I first learned about this and contacted the company to learn more. According to Tim Belvin, the company’s CEO, their goal was to find a way to make digital promotions simple, easy and seamless to redeem. The key, he says, was basing the platform on intuitive technology, something he says other systems were missing.
Their technology works something like this: a monitor is installed in the aisle and pre-loaded with multiple brand coupon offers. The customer simply places the item on promotion into her cart and then touches the monitor. The offer is wirelessly downloaded to a chip in her shopping cart. VisibleBrands’ systems integrate with retail point of sale and support redemption through existing channels, which means the stored offers in the cart are easily retrieved at the check out.
Belvin points out the fundamental difference with his system is that it gives consumers a compelling offer where it matters most—at the shelf. He says this is where purchase intent is highest and represents the greatest opportunity to influence a shoppers’ final purchase decision. What I found most interesting is that their system can also measure brand engagement, behavioral insights and purchase data. “Retailers can easily access promotional effectiveness to drive price and merchandising optimization,” says Belvin. “We think it is a game changer for retailers to be able to deliver in real time customized offers and exclusive deals to shoppers based on behavior, preference or loyalty.”
No more clipping coupons or fumbling for my phone when I shop? Count me in.