Mobile QR Code Coupon Redemptions to Surge
By Jack Grant
The redemption of mobile QR codes is growing – with its best days yet to come.
According to a study from Juniper Research, the number of QR code coupons redeemed via mobile devices will increase from an estimated 1.3 billion in 2017 to 5.3 billion by 2022. The research found that the use of QR codes to deliver coupons and discount offers will increase substantially, driven by in-built QR functionality on mobile devices with Apple leading the way.
Recent changes by Apple, to include QR code reader functionality as part of the camera application on iPhone devices, led Juniper to revise upwards its mobile coupon forecasts. Juniper forecasts that over 1 billion mobile devices will access coupons through QR codes by 2022.
“Apple’s addition of QR code reading facilities directly addresses a major barrier for use in Western markets. The lack of an in-built reader had been a hindrance, with consumers needing to download a separate QR code scanner app,” said research author Lauren Foye.
Juniper believes retailers are set to take advantage of an increasingly receptive audience for QR codes. For example, Target announced a QR code-based payments system to scan offers directly to their device stored payment cards, which can then be scanned at checkout for instant payment.
The research also found that mobile-enabled loyalty cards will double, with nearly 4 billion cards set to be active by 2022, up from 2 billion in 2017. Growth will be aided by digitalization of offers, alongside newer, innovative technologies being applied by retailers.
Meanwhile, Juniper said chatbots and voice assistants are major driving factors in delivering consumer loyalty, with these programs aiding in delivering recommended offers and incentives, as well as addressing any customer queries. However, teething problems such as misunderstood queries or incorrectly recorded information risks alienating users.
Redemption levels will be highest for web-based chatbot coupons, as Juniper believes these interactions are more likely to stem from scenarios where consumers are actively seeking coupons and offers, therefore more inclined to use them. However, in terms of volume, the chatbot coupons space will be dominated by both messaging and discrete app coupon redemptions, as far more coupons are delivered.
Juniper provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.