The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The 66 million coupons redeemed represent 2.3% of coupons used by U.S. consumers during the year, according to coupon technology company Inmar. Coupons printed from the web represented another 5.2% of coupons redeemed.
Consumers are increasingly comfortable redeeming digital coupons they access online as well as printing coupons from the web, according to an annual report by coupon technology company Inmar.
Shoppers redeemed more than 66 million digital coupons in 2013, 141% more than the year before, and 2.3% of the 2.9 billion coupons redeemed last year, Inmar says. Inmar says it handled the redemption of 44 million of those digital coupons. The company describes digital coupons as offers consumers load to their shopper loyalty accounts from retailer and publisher web sites and other locations. The retailer applies the discount at checkout when a shopper presents her loyalty card or unique individual identifier, which can be on a mobile phone.
In addition to digital coupons, 5.2% of coupons redeemed were obtained and printed out by consumers online, Inmar says. That’s an increase from 4.6% in 2012 and 1.0% in 2008, according to earlier studies by the company.
Inmar also reported in its 2013 summary report, issued this week:
- Total coupon redemption remained steady at 2.9 billion, while coupons distributed by consumer packaged goods companies grew 3.6% to 329 billion. Food items represented about 40% of all coupons distributed.
- The average face value of coupons distributed was $1.56, down 0.6% from 2012; the average face value of redeemed coupons increased 12.4% to $1.27.
- The most common method of distributing coupons by far remained free-standing inserts, brochures or ads containing coupons inserted into newspapers and magazines. They accounted for 87.3% of coupons offered and 41% of coupons redeemed.