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Study: Mobile QR code coupon redemptions could hit 5.3 billion by 2022

Usage of mobile QR codes is skyrocketing — and momentum shows no sign of slowing.

The number of QR code coupons redeemed via mobile devices will reach 5.3 billion by 2022, up from an estimated 1.3 billion in 2017, according to “Coupons: 3 New Technologies Set to Energize Loyalty,” a new study from Juniper Research.

According to data, the use of QR codes to deliver coupons and discount offers is expected to increase substantially, driven by in-built QR functionality on mobile devices. When it comes to preferred devices, Apple is leading the pack. Based on Apple’s recent QR code reader functionality upgrades within its iPhone camera applications, expects that over 1 billion mobile devices will access coupons through QR codes by 2022.

“Apple’s addition of QR code reading facilities directly addresses a major barrier for use in Western markets,” said research author Lauren Foye. “The lack of an in-built reader had been a hindrance, with consumers needing to download a separate QR code scanner app.”

More retailers are primed to take advantage of an audience that is increasingly receptive to QR codes. For example, 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, Foye revealed.

In addition to mobile QR codes, mobile-enabled loyalty cards will double, with nearly 4 billion cards set to be active by 2022. This is a jump from 2 billion in 2017. Growth will be aided by digitalization of offers, alongside newer, innovative technologies being applied by retailers.

Meanwhile, chatbots and voice assistants are major driving factors in delivering consumer loyalty due to their ability to deliver recommended offers and incentives, as well as address any customer queries. However, teething problems, such as misunderstood queries or incorrectly recorded information risks, still alienate users, the study revealed.
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