Google has ushered in the end of days for the bulging wallet with Google Wallet. But even if the platform supported cashless purchases, tickets and discount coupons all under one account, the system has, so far, not provided a unified service to handle all of these. But since Google’s acquisition of Zave in 2011, the company had been working on a new targeted digital-coupon service that provides real-time data and updates to both consumer and retailer.
It sounds like “savers” and the new company helps consumers do just that. Zavers is “a digital coupon solution that enables retailers and manufacturers to reward loyal customers with coupons that are relevant to them — increasing basket size and redemption rates.”
According to Google, the system lets users find manufacturer discounts on retail websites, and these coupons can be saved in their accounts. At point of purchase (online or offline), the savings will be automatically applied as long as the user is still logged in. This means users will no longer have to manually apply coupon codes to get discounts, so they can just shop and check out and get the best prices for their favorite brands.
Manufacturers and retailers, meanwhile, get to enjoy real-time data about their customers and how products are pushed. Here’s the real beauty of Zavers, at least for businesses’ perspectives. It’s quite interesting that Google’s pitch for the Zavers application is “So dog owners don’t get cat food coupons and parents of teenagers don’t get diaper coupons.” The system basically lets retailers and brand owners push the relevant product discounts to the right consumers, and not just blindly distribute coupons and coupon codes to everyone.
Studies say that $470 billion worth of coupons were distributed in 2011 alone (the latest data we can refer to for this particular market). However, only 10%, or $4.6 billion worth, are redeemed. During that period, only 1% of the coupons were digital. This paints a disappointing picture for manufacturers and retailers, as their marketing campaigns are not as effective as hoped, as the purpose of coupons and discounts is to push products off the shelves (virtually or physically).
Will Zavers make the business of using coupons more efficient and effective? If we’re already using our mobile devices to purchase goods and services online and at point of purchase, then this will certainly make it more convenient to do so, giving both users and businesses the benefits and conveniences of a single system for coupons. The only concern here is whether you, the consumer, will be willing to expose more of your information — such as email addresses and mobile numbers — to business establishments.
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