2009 – The Year of the Voucher Code
2009 was a challenging year for high street retailers, but for online retailers and affiliate marketers, the year was much more positive. As consumers become increasingly savvy online in relation to their purchases, online retailers have had to keep ahead of the game to remain competitive during the online price war of 2009.
The launch of affiliate voucher code and cash back sites in 2009 has influenced the way we all shop online. As consumers raced for the best deals and offers this Christmas, retailers were at the same time fighting to provide the best promotions.
There is no doubt that the recession has hit the high street hard however consumer spending hasn’t, and has no signs of stopping. In fact a recent retail report published by PayPal showed that online spending in the UK is set to more than double by 2011.
The Voucher Code Affiliates
Retailers use a range of affiliate marketing techniques to send shoppers to their own websites, by paying out commission on sales or enquiries. A staggering £227m was estimated to be paid in commissions and fees to affiliates during 2009.
Consumer awareness of affiliate channels is consistently increasing, and the use of voucher code sites is a prime example of the online marketing industry innovating and responding to market changes.
Also, now the IAB guidelines have been introduced to protect consumers against voucher code bad practice, customers can now be confident that the discounts and offers they subscribe to are more reliable than ever before.
How can retailers take advantage of the increase?
Consumers in the UK, and indeed the world, are doing more research before making their purchasing decision. Voucher codes sites, Cashback sites and Review sites have a large role to play in this new buying cycle.
A study by LinkShare earlier this year found that 81% of their respondents were doing online research ‘most of the time’ before buying a product and in addition to that, 92% said they now had more confidence in online information than the sales advisors that they came across in shops.
This provides a key opportunity for retailers and their marketing agencies to capture the ‘browsers’ as they are contemplating their purchase decision. The key is to observe their consumers behaviour and offer them the right information in the right format at exactly the right time to capture that sale. This is a massive area where affiliate marketing has the opportunity to gain a larger market share in 2010.
What does 2010 have in store for Voucher Code sites?
Now that the UK consumer has become accustomed to the extra value offered by voucher code sites, there is no chance that they will be going back to the higher prices that they may have paid before. So it appears that this trend is here to stay as we head into 2010.Tweet