We've long suspected that mobile coupons would be a precursor to mobile wallet adoption, going as far as to predict the point a few years back in an article for Loyalty Management magazine. As it turns out, that prediction is coming true, and it may even happen faster than anyone thought. Mobile coupons are now on a sharp growth curve, and recent research shows that those coupons might get people to test digital wallets.
There is increasing scrutiny on mobile coupons from not just consumers, but also merchants and financial institutions. What does it all mean, and what can be expected in 2013? Loyalty360.com asked Kelly Passey to chime in with his predictions about the mobile coupon in 2013.
Click here to read Kelly's article (free registration required)
Kelly's opinions boil down to three points:
- 2013 is the tipping point for mobile coupons. Action from big time players such as Apple and Google will push the mobile coupon from techy fad to wide adoption. Higher consumer interest will push merchant involvement as well.
- Mobile coupons are the gateway to mobile payments. As we mentioned above, mobile coupons are the clearest path to mobile wallet adoption. Get consumers used to accessing their smartphones at the POS, which will get more merchants involved, which creates an opportunity for a dominant player to emerge. The rapid adoption of mobile coupons could cause the current 3-7 year adoption timeline to speed up. Merchant funded rewards are the secret weapon in payment innovation.
- Merchants hold the power. Put simply, whoever brings the most merchants to the table, in terms of partnerships, coupons, and other content, will emerge victorious in the battle for the consumer's love.
Have you used a mobile coupon recently, or do you have any interest at all in paying with your phone? Let us know in the comments.