Commentary

Chatbots Enter The Coupon Market

The old coupon is getting a new technology.

Enter the coupon chatbot.

A new forecast suggests that chatbots offer significant potential in terms of loyalty as well as through the auto-creation of personalize offers.

The number of bots involved in ecommerce and retail is currently limited, according to the study by Juniper Research.

However, by next year, there will be 58 million chatbot coupon redemptions, based on the forecast.

Of course, chatbots are not the only tech invading the coupon area, with 2 billion QR code redemptions and 8 billion mobile app redemptions projected for next year.

The total value of mobile and online coupon redemptions in five years is projected to increase to $91 billion, up from $47 billion this year, an annual growth rate of 14%.

For chatbot coupons, the greatest opportunity will be delivery via app-based channels with retailers personalizing offers, most notably in loyalty apps.

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Redemption levels are expected to be higher from web-based chatbot coupons. Juniper expects those interactions are more likely to be triggered by consumers actively looking for coupons and offers, making them more likely to be used.

By volume, however, messaging and app coupon redemptions are expected to be higher in volume, since more coupons travel through those channels.

At least with chatbots, consumers on-the-go can interact with adaptive technology with a dose of AI, creating a higher likelihood that the consumer will get the right coupon at the right time in the right place.

At least, that’s the plan.

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