Mobile QR Code Coupon Redemptions to Surge, Surpassing 5.3 Billion by 2022
Fourfold Growth Driven by QR Reader Integration on Mobile devices
Hampshire, UK: 3rd January 2018
A new study from Juniper Research has found that the number of QR code coupons redeemed via mobile will reach 5.3 billion by 2022, up from an estimated 1.3 billion in 2017.
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The new research, Mobile & Online Coupons: Leading Vendors, Technologies & Market Forecasts 2017-2022, finds that the use of QR codes to deliver coupons and discount offers will increase substantially, as in-built QR functionality on mobile devices drives usage, with Apple leading the way.
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The Second Coming of QR Codes
Recent changes by Apple, to include QR code reader functionality as part of the camera application on iPhone devices, has led Juniper to revise upwards our mobile coupon forecasts. Juniper forecasts that over 1 billion mobile devices will access coupons through QR codes by 2022.
Research author Lauren Foye explained: "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".
Juniper believes retailers are set to take advantage of an increasingly receptive audience for QR codes. For example, US retailer 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.
New Technologies Set to Boost Loyalty
In addition, the research 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 digitalisation of offers, alongside newer, innovative technologies being applied by retailers.
In addition, the research found chatbots and voice assistants as major driving factors in delivering consumer loyalty, with these programmes 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 risk alienating users.
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Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
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