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QR code redemption to skyrocket by 2022 - PC Retail

QR code redemption to skyrocket by 2022

You've got Apple to thank
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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, says new research.

According to a study from Juniper research entitled Mobile & Online Coupons: Leading Vendors, Technologies & Market Forecasts 2017-2022, the use of QR codes to deliver coupons and discount offers will increase substantially, with in-built functionality on smartphones – especially by Apple – leading the drive. 

Among all the new features brought in by iOS 11 in 2017, one that was quietly snuck in was a QR code reader directly built-in to the camera app on iPhone. So dramatic has this addition been that Juniper has had to revise its mobile coupon forecasts to over 1 billion mobile devices by 2022. And as everyone knows, where Apple goes, the industry follows.

As 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".

The research firm believes that as a result, more retailers are set to take advantage of an audience more receptive to QR codes. US retailer Target has already announced a QR code-based payments system to scan offers directly to device stored payment cards, which can then be scanned at checkout for instant payment.

Another knock-on effect is that mobile-enabled loyalty cards will double. According to the study, nearly 4 billion cards are 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.

Elsewhere, the research also found that chatbots and voice assistants are major driving factors in delivering consumer loyalty, with these programmes aiding in delivering recommended offers and incentives, as well as addressing customer queries. 

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