Shoppers want technology to automate deal hunting, PYMNTS finds
Shoppers who are most receptive to automated offer management represent $89.1 billion in recent spending, according to a PYMNTS Intelligence report. The report also finds that $42.4 billion, or 34% of recent spending, is tied to missed or unredeemed offers.
Selective automators, who are comfortable with bounded automation like choosing the best payment method, make up 30% of consumers and account for $44.9 billion in spending, while full autopilot shoppers, willing to let a system optimize payment, quantity and brand, represent 22% and $44.2 billion. On average, shoppers take 2.3 steps to redeem an online offer and 2.5 steps for an in‑store offer, while 90% of offers still require active consumer effort. Only 13% of online offers and 10% of in‑store offers are applied automatically, leaving most shoppers to complete the redemption process themselves. When shoppers see an offer, nearly three‑quarters pick a different product, about seven‑in‑ten change the quantity they buy, and roughly four‑in‑ten switch their payment method.
The study surveyed 2,754 U.S. adult consumers and was produced by PYMNTS Intelligence together with FIS. It examined how shoppers discover and redeem offers and how much control they would cede to an automated system. The report is titled “Embedded Offers: The Billion-Dollar Opportunity Inside Recent Consumer Spending”.
What we know
Automation‑receptive consumers account for $89.1 billion in estimated recent spending across grocery, retail and restaurant purchases.
The report estimates $125.4 billion in recent spending, with $42.4 billion, or 34%, linked to missed or unredeemed offers.
Selective automators and full autopilot shoppers together make up 52% of consumers and account for $89.1 billion in combined estimated recent spending.
Only 13% of online offers are applied automatically.
Consumers average 2.3 steps to redeem an online offer and 2.5 steps to redeem an in‑store offer.